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I like it Starchild! Best of ...
Every day that passes we are a day closer to drilling (against the timelines we have been told)
The board have a history of only releasing news when it was needed (either regulatory requirements or as a precursor to a fund raise)
If there is no news in the next 2 weeks on percy the jitters will set in.
If there is no news on acquired CERP assets the little red warning triangle might need to come out.
If there is news and it is a cash call, the sirens will fire up.
Relaxed, but just double checking the emergency procedures policy with my next GnT.
Rhetorical question, although feel-free to post:
If from today the SP hovered in the 3.5p-4p range, yet we were still awaiting probable or possible news as I used best endeavours to list this morning, would you be…………
1. Content and patient
Or
2. Continue to be upset at the lack of news?
3. Would you change your answer above if the SP was in the 4p-4.5p range?
The BoD will provide news when it is ready. They will not do so just because some traders, using ‘smoke and mirrors’, want to play with the stock but currently can’t.
GLA
Starchild
https://www.lse.co.uk/profiles/starchild/
ps….. someone referred to me as a ‘medium’ today. I am not. I am a ‘large.’
Harry - inclined to agree with you, we really do need a +ve update RNS covering a fair percentage of SC's "expected news"
Petro$: your early post was a great summary of the investment decision and opportunity. As you can see I ran out of room to acknowledge it!
Starchild
https://www.lse.co.uk/profiles/starchild/
Between now and year-end, Percy-1 and ex-CERP related news is expected. IMHO those marked ‘S’ could have some impact and ‘M’ may have a MAJOR impact to SP.
Expected news
1. ‘S’ Admin. Licensing updates Bahamas Gov.
2. ‘S’ Admin. Bahamas Gov sign-off of the few EA issues outstanding, IF any.
3. ‘S’ Merger admin: Heritage Trinidad and Staatsolie Suriname consent to the merger.
4. ‘M’ Competent person’s report: An audit of BPC's probable reserves.
5.a ‘M’ Funding: soon after 15 November, has the £1.5m Bizzell CLN @ 2.5p been exercised? Why?
5.b ‘M’ Funding, soon after 1 December: update for +/- $10m. Stena JV option at the asset or share level.
5.c ‘M’ Funding via mortgage/loan to develop income earning infrastructure.
5.d ‘M’ Funding via reserve based lending after CPR. (News may be delayed until Jan/Feb. See points 32-35)
6. ‘M Expert opinions from Proactive, Shore Capital, Investec Bank and others on SP / Market-cap leading to spud, and if oil found. Investec purportedly stated 6p pre-spud.
7. ‘M‘ The Stena IceMax ‘is on its way……crew safe.’
8. ‘S’ ‘The Stena IceMax spudded yesterday at hh:mm local time….crew still safe.’
9. ‘MMM’ Initial interim spud updates (news may be delayed until January).
Possible news
20. ‘MMM’ Major Oil company JV/farm-in. Must pay towards actual c$140m (and virtual c$500m) BPC spent until 1Q 2021.
21. ‘M’ 3rd party supplier such as Haliburton pays or offsets some Percy-1 costs.
22. ‘S’ Uruguay project roadmap released. (Probably 2021)
Ex-CERP related news which may affect the first 0.5p (first £20m market cap) of the BPC SP. Some points, courtesy of LGO-fan/in4cedros/ADVF guys and others.
30. ‘S’ Possible deal done with Predator (PRD) for $2-$4m. (lapsed, but may materialise in future)
31. ’S’ New Contract for Goudron with better terms.
32. ‘M’ Test results from Saffron 1 (MC), and turning this into a producer.
33. ‘M’ Saffron 2 design, gov approval, drill date. (CPR updated after drill result?.... leading to RBL point 5.c above and no CLN?)
34. ‘S’ Successful CO2-project Fram/PRD. (see 30)
35. 'M' Suriname. JV with Staatsolie. 24 million boe STOIIP.
36. ‘S’ CERP 2019 financial update. Markets already expect this to be down-beat, but H2 2020 update in same RNS, likely up-beat.
37. ‘S’ Spanish gov to refund $1m for something ex-CERP related which I can’t remember
I excluded general news such as Covid-19, PoO, Brexit, USD-GBP exchange rate. Let me know of any proposed edits to the next version.
Read 20/10/20 presentation https://www.bpcplc.com/bpc-presentations-webcasts/
Watch between 4-6 min timestamp Leo Koot (ex-CERP CEO) interview. He was very excited about Percy-1 while doing pre-merger due dili. https://www.youtube.com/watch?v=1LoJi9l-k4w
IMHO CONVICTION strong buy leading to 15/12/20 Percy-1 spud. This is NOT a SP prediction for tomorrow or next week. All IMHO. Always DYOR and/or seek professional advice. GLA. Looks ready to move!
Starchild
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