Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen 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.
Another slight concern is that, in order to meet the conditions of the CLN, BPC needs to have approximately 19 months working capital.
According to latest RNS they have 12 months G&A.
10/10/19 and 18/10/19: "The Company maintains a lean and efficient overhead burn rate, and currently has sufficient cash available to meet general working capital needs through to H2 2020."
10/10/19 and 18/10/19: referring to the CLN conditions "The Subscribers being satisfied that the Company has sufficient funds in cash (but not including committed cash or cash subject to refund obligations) which, when aggregated with the subscription amount of the Conditional Convertible Notes, would be sufficient to fund the cost of the intended drilling operation in full and the operating costs of the Company until the end of June 2021"
Just to emphasise "...and the operating costs of the Company until the end of June 2021"
Well, that's that - Open Offer & placing shares now into the market and a slight dip off that. At around the OO/placing price of 2p, really a bit of a 'no brainer' accepting the usual rosk caveats that ho with ANY stocks trading in the markets.
Institutions have done their due diligence and are comfortable entering at this level and as Etyan stated in his recent interview, a few pennies against the potential upside is pretty negligable. Whether oil is hit or not on ine the biggest potential offshore resources, we can reasonably expect a very significant upside from these levels and a negligable dip off the 2p placing price.
In the meantime Farm in discussions proceed, Rig announcement due soon......and we steadily approach actual drilling.
Atb & have a good evening
the beagle is stranded.
(translation - they are now tradable)
I will try to get out of the dog house if we see 3p this side of Christmas by selling half of the OO shares (value at OO not volume) if not I will at least try to make it a bit more comfortable in here.
still waiting for mine to show. clearly on the wrong platform.
All Open Offer shares now freely tradeable on the market.
Sorry, missed the relevance of today?
Thanks
Should be interesting
Atb
The shackles come off tomorrow and it will either float down, or up, more freely. Let's hope for some good new news on progress to push it up.