We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Yes I certainly do like the `drill schedule` and hopefully by 1st November this will begin the roll with the mobilisation. It certainly looks good to me but I am happy to keep trying to build my pot up elsewhere for a few more months, I guess news will be quiet over the next few months with such a long time to go until September but lets hope they can tighten up the funding side a little more. But tbh as long as we drill whats a few million shares especially if there is a comfortable strike and I guess we have a pretty decent rig to have a go at it. Long road ahead and still will hopefully come back in here with many multiples of where I left, give me a few more Tui days like today and I will be all in here by August time :) Keep safe people
Interesting- thought something was afoot with price action today and heyho 2 million buy @ 17.10 hrs - always a good sign -Whales in the water - 2p by w/e - and yes I wouldn’t want to be out of this over the w/e!
Luv ya guys.
GL
IK
XX
Trek - I’m curious too. Your post got me into AVCT so I’m in your debt but surely we now have more options than previously was the case?
Trek
I must be missing something.
The finance is nailed on.
However we now have the opportunity to optimise it with alternatives and I do believe The BG will get involved.
Serious? - why do you doubt Bizzell and Family office - they are contracted.
I do ask this with great respect for you as I know you know your stuff - just want to make sure I'm not missing something.
IK
XX.
Personally I think the rns is scrambling. The finance is not nailed on but at least the bod, who now have some decent skin in this, want to avoid dilution. The positives are the nailed drill window, the penalties and that makes a farm in more likely especially now the finance ‘gap’ has been articulated.
Now a farm in would be a great rns.
Trek
Hurt my holdings THERE!
Good and bad news for me unfortunately. I have sh%t loads invested in Seadrill and didn't see that one coming so its going to hurt my holdings here.
So win here but cancelled out via SDRL.
Bummer
Anything above 1.55 is a buy !!!!!
Need to wait patiently b4 adding more, this sp will not move much sooner. Vgla
As per lately, no RNS showing up on here from this morning, they need to get a grip surely its not that hard!!
Tiburn, agreed. Although delay in itself is usually not viewed positively (as we keep delaying and they always find a reason for everything). Nevertheless, the most interesting part of the RNS is BPC offering a 10% farm-in option to the drilling contractor. I am now more inclined to think that there could be a higher chance we farm in before drilling as opposed to afterwards.
Maybe, just maybe, that was a nice little indicator that this could actually happen.
Nevertheless always DYOR, as investing/trading is not an easy game.
It could be maintained that delay at this time plays into BPC advantage in strategic terms, they are funded until drill, the oil has waited patiently and can wait longer.
Delay is longer time for a Major to farm in or gain other finance/partnering for multiple drills, oil price to rise, BG to finally understand that their only viable means of GDP growth is through total involvement and backing to expedite oil production revenue by all means available to them.
Not sure why people are disappointed in the delay? Anyone in their right mind would do the same... Oil prices are at an all time low and COVID will only increase risk and cost if you try and operate with social distancing and potential sickness. To me we have the benefit of securing a rig when it's cheap but cashing in as late as possible - the longer we can wait the more chance of a higher oil price and more stable markets. Either way we have to drill by Q1/Q2 next year depending on the force majeure outcome, so be patient and enjoy the ride. GLA
I was going to add more last week but decided to wait. Doh!
Time to significantly add to my holding.....
Full steam ahead !!!!
Gla
Star.
Spot on mate!
Xx
Leansniper, I respectfully disagree. Hurricane season lasts till +/- Nov 30. Makes sense to delay till December for this reason and also Covid-19. If you read the RNS small print, the BOD have even got a penalty clause in-built for several million in case drilling partner cannot fulfil contract. It is unlikely any drill supplier would have agreed to such a risk clause in normal times. I think it's a great RNS.
.....and further distance from the current covid situ.
All positioned very well indeed & glad to be holding a position in BPC for the rise expected to Drilling!
Excellent news
Nice to see cost down by almost 15%.
Probably a 3 months delay, which I personally expected. However, on the plus side it'll give us more time hopefully to get a farm in, including the POO looking healthier.
Excellent news with some (other) key points emphasised regarding reduced costs (all fully covered) and processes to potentially reduce further shareholder dilution going forward to drilling.
The share price was way oversold previously, so can reasonably expect a good Re-rate towards a higher price level.
Atb all