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Petrodollar
“only responsible adults should be investing & DYOR!”
“we all have different relationships to risk & our investment approach reflects that”
Fair comment.
A real problem on here though is this school of thought, which is relatively new:
“BPC 4p-5p per share (£200m market cap) even if Percy-1 is a duster? Here’s potentially how and why”
The gist is that in the event of a duster, the ex-CERP assets may, after initial turbulence, ensure nothing worse than 4p-5p!
This is so dangerous. For a start, it ignores how capital hungry the ex-CERP assets are - it is worth looking at how much capital they have consumed to date (and, by the way, it was interesting that when I recently sent 3 questions to BPC about the ex-CERP assets, the one question that they didn’t answer was whether the drilling outfit was still bound, post the merger, to farm in to S2). This school of thought also seems to involve swallowing pretty much whole the BPC BoD’s highly aspirational take on the ex-CERP assets - a take which, on any kind of objective examination, is essentially marketing.
For you BPC is a smallish gamble within an otherwise balanced portfolio, but I suspect that many on here are more significantly exposed. The downside matters.
GG - hardly a fair analysis of the time-line here.
Go through the RNS and news which is easily found by using Google.
Yes we are waiting and have been for a number of years. Some have traded and made a lot over the years, some have tried and lost over the years. Some have just accumulated and some have lost hope of making a penny profit and left their certificates in drawer bottoms.
In the larger scale of things - your time-scale covers 24 years - we have 49 days to 15th December, 7 weeks to the day, a month and a half. So keep your pants on and let the days tick by, during which time we may have news on the other assets now owned by BPC. We should also learn a little about the timeline when the Stena IceMax leaves port for a little testing before setting sail for Bahamian/Cuban waters.
Stay safe as always ;@)
JBT 2007 - It doesnt really matter if I know the first thing about BPC nor does it matter if you know everything there is to know about BPC. What matters is
1. It is communicated that the Stena Icemax is on its way to drill for oil and everything is in place unequivocably.
2. That it is a successful drill that matches the expectations of 750m - 1.3billion barrels of recoverable commercial oil in Perseverance 1.
That is all that matters nothing, you and I are but tiny pawns in this game my friend.
GG.
GG, you really don't know the first thing about BPC do you. If you can't even get basics like the dates correct then the rest of your diatribe is pointless and leaves your credibility in tatters.
GG
Totally see where you are coming from. Still happy with my pre-drill excitement trade because the pre-drill excitement is likely to happen even if folk should arguably be more cautious. If there is a setback at this stage, the percentage fall is going to be nothing like what it would be on a duster/uncommercial drill result.
(I realise that some have signed up to the
“BPC 4p-5p per share (£200m market cap) even if Percy-1 is a duster? Here’s potentially how and why”
school of thought - I think that is dangerous but that is their call.)
Concerning Institutional investors: I think they will eventually take an interest after a successful well result. I would expect to see a share consolidation soon after a successful well result.
All the trades showing are O trades.
Once Stena sails, I am anticipating a steady increase of O trades up to spud.
GLA.
1. The share price may rise. The markets may be interested in this share or more probable just have faith in this company . The price of the share may still be around this mark come mid December.
2. The drill may not be postponed or cancelled due to covid 19 or "other issues ".
3. The drill may not be a duster.
Think I found 'em........... :()
All the best (ya all welcome :)
States Ross as a holder of over 10yrs..................!
soz........... 10 days........ typo....:)
All the best (Ross knows best, and a lot more than yous ............ :()
Sorry couldnt resist this one.
Timeline :
1996 - Set up company with a view to discovering, exploring and recovering up to a billion of barrels of oil in the Bahamas by oil experts.
1996 - March 2020 - Issue 4 billion shares to pay for the drilling to see if there is oil, sign up to all sorts of loan notes and guarantees on the basis of a future successful drill. Pay for thousands of pounds worth of advertising and promoting the Bahamas oil fields as the greatest oil discovery of the 21st century by an oil and gas champion from a company that has not recovered one drop of commercial saleable oil in almost twenty years or has experience or success in doing so.
March 2020 - Cancel drilling due to covid 19 epidemic.
August 2020 - Buy a struggling oil company and its assets on the pretext that it can have a stake in the next great major oil discovery and leverage its minimal assets or have as a backstop in case the bahamas drill is a total duster.
September 2020 - Issue yet even more shares.
October 27th - Share price still at 2.45p with less than 6 weeks to the drill and struggling to rise any higher. No news from the company or the drill ship company. Covid 19 increasing around the world at a staggering rate.
Dont bet against this drill being delayed again !
And you wonder why the SP is not rising.
Nobody on these BB has ever considered the following :
1. The share price may not rise. The markets may not be interested in this share or more probable just have no faith in this company . The price of the share may still be around this mark come mid December.
2. The drill may be postponed or cancelled due to covid 19 or "other issues ".
3. The drill may be a duster.
Ultimately its a case in trust of the Board of Directors and senior management. As shareholders of course we have faith in Potter, Schraeder and co but that is not to say the markets have and any betting strategy of hoping the SP rises prior to the drill and selling pre drill may be taken out of our hands.
I for one hope to be proved totally wrong but dont discount any of the above.
GG
Private_Investor
Good post. It is amazing how over time people’s definitions of the short, medium and long term have changed. We have so much less patience these days. I can wait a couple of months for my reward here though - no problem. But that will do it for me. I’m not going to get greedy and hold out for the drill result - what if it turns out to be a “wafer-thin mint”?!
Try again. LSE eating BB posts. This one appeared then dropped. I assume they are still having issues with the chat.
Maybe they should "give a little whistle"
Time is relative.
In the terms of a human lifespan imminent may mean days, weeks, months at a push. Again perceptions of time vary with age. Birthdays felt so far apart as a child they are often heard saying such things as "I am 6 and a half" as you get older it becomes just actual age (or age you want people to believe) then as old age sets in you hear people say how old they will be on their next birthday.
With BPC we are talking in terms of oil.
Things move more slowly, millenia to form, sometimes decades to find or extract.
Imminent for oil could be months, years, decades even.
But like everyone else I would like to see news flow soon.
Frustration seems to create tension in the posting ranks, that tension presents as disruption in the form of negativity, pointless pontification, or outrageous hostility in some cases.
The goon news is we will not be waiting for another 10+years.
So, as the pythons put it, always look on the bright side of life....
How many started singing?
Time is relative.
In the terms of a human lifespan imminent may mean days, weeks, months at a push. Again perceptions of time vary with age. Birthdays felt so far apart as a child they are often heard saying such things as "I am 6 and a half" as you get older it becomes just actual age (or age you want people to believe) then as old age sets in you hear people say how old they will be on their next birthday.
With BPC we are talking in terms of oil.
Things move more slowly, millenia to form, sometimes decades to find or extract.
Imminent for oil could be months, years, decades even.
But like everyone else I would like to see news flow soon.
Frustration seems to create tension in the posting ranks, that tension presents as disruption in the form of negativity, pointless pontification, or outrageous hostility in some cases.
The goon news is we will not be waiting for another 10+years.
So, as the pythons put it, always look on the bright side of life....
How many started singing?
Harry - not far wrong there of course.
I have a lot more grey hair since beginning my journey here. I have made a few bob on other companies along the way and I have certainly lost a few bob too.
All of the companies have a favour to use such terminology so have come to the conclusion they learn from the same school as politicians though BoD tend not to lie as much and they actually can give a definitive answer at times.
Fear ye not Harry - we will know within a few short weeks - our fate - good or bad. In the meantime we must not let our collective frustration cloud our judgements - stay safe all - ;@)
Change the record please Harry, we're all aware they said 'imminent', could be any number of reasons for the slight delay - news will drop when they're good and ready...
The PRD effect..............!
along with the other CERP assets............... imminent ....... :()
All the best (oh............ and P1 with Stena........obvs......... :()
:-0 BOOM
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