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Utter, utter madness.
There are some logical points that a farm in becomes viable. First one could be getting EA approval (well that’s ticked off the list now). Second could be striking oil.
If majors are comfortable that oil can be struck (based on all the analysis and work done this seems likely) then I would hope a farm in is now being finalised, pre-drill, rather than post drill.
It would also be worth them taking some risk as strong drill results will dramatically change the farm in commercials.
My guess is a farm in confirmation next week.
Tex.
Joyce Meyer quote wasn't it robbla ? may be true but a bit rich coming from the female of the species :)
"my opinion" the farm in was conditional on ea approval"
100% imho JM - can't imagine the Farm in partner signing without the EA - now all systems go, imo
Now switching off the screen ;)
"my opinion" the farm in was conditional on ea approval !! no way to verify so add a mighty pinch of skepticism like i did and draw your own conclusions .
Patience is not only about our ability to wait but how we behave whist waiting.
I think buying will kick in. USA and Houston will now know EA is approved and that the rig inspection is being conducted and potentially the farmin situation with the Government's green light today.
Thanks PageofCups,
Confirms what I saw in the techs which is always good as it's bound to happen self-fulling prophecy and all that if everyone else sees it too.
Suspect we are seeing a combination of forward selling and increased trading (due to recent price volatility) and maybe a little wider market nervousness. Might continue until 3rd March (assuming no new RNS's posted) when placing shares issued to market. Buying more today and trying (with some difficulty) to be patient for news:-). IMO.
Good luck All
Chart thing suggesting 8p if 5.2p broken.
Https://www.share-talk.com/share-talk-bulletin-board-heroes-thursday-27th-february-2020/#gs.y9bj9f
" I've been in the same camp as you in recent months, flogging off the deadwood. But , blimey o riley theres some bargains out there at the moment... some of our best blue chips are getting battered! Eyes on the prize...."
Well said molokai. Did that this morning bought into a bluechip. However, as usual, could of got an even better fill had I waited a little longer.
I sold out of ukog to top up in bpc. Ukog just mystified me , they found oil, and are selling the oil however the share price has tanked. Some people blame it on the market makers . I know aim is like the wild west , I just hope they don't hold back bpc share price . I'm just be astounded the way some share prices should rise but they do nothing .
Bonum.... I've been in the same camp as you in recent months, flogging off the deadwood. But , blimey o riley theres some bargains out there at the moment... some of our best blue chips are getting battered! Eyes on the prize....
Perhaps one reason for todays lack of upward movement in the sp is the need to regrow confidence that this is going to happen, which may seem as certain as it can be to us long term holders, but with the recent rapid rises and falls hesitation to commitment is understandable.
Quick reminder - 6m 11s.
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Thanks for clarifying that bonum. Have to be wary that these posts can influence inexperienced peeps and whilst we can see the advantages in owning stock in BPC we don't really know how it will end. We can only speculate based on the information supplied.
The good thing is we have an excellent experienced mangerial BoD who seem to be looking after their shareholders which just builds confidence in our choices.
Let me put that into context Prospect - I meant those stocks that are languishing or indeed are pretty much 'dead' - most PFs have a few of those.
BPC on the otherhand is primed for a significant rise into drilling and the associated Newsflow we can expect.
The header does say 'Losers'!
Here's what my intial post actually said;
"I remember offloading many of my losing stocks and those which had completely stagnated, to Buy BPC.
Many would have just been tucked away doing nothing and others, like my SXX holding, gave me an opportunity to make back the significant losses incurred by those holdings.
I think many followed the same suit and will no likely continue to do so and given the reasonable anticipation for a very significant Upside through drilling.......and seperately, the possibility of finding a huge, World Class resource at the end of it.
Hopefully the Farm in can provide us further Opportunities beyond solely Perseverance 1!
Good strategy to rebalance & rejuvinate a Portfolio, imho.
Make your own choices of course."
I think that's actually a very canny way to approach things tbh, but again, everyone makes their own decisions.
AKA - Eytan.
In other news
https://www.proactiveinvestors.co.uk/companies/news/913807/bahamas-petroleum-shares-jump-as-it-gets-environmental-greenlight-for-perseverance-well-913807.html
https://www.proactiveinvestors.co.uk/companies/news/913807/bahamas-petroleum-shares-jump-as-it-gets-environmental-greenlight-for-perseverance-well-913807.html
bonum,
We're all on the optimistic side. However, I wouldn't sell other holdings and put it on here. New cash yes. Spare cash yes. If peeps have done proper due diligence and they feel it's a worthwhile play then yes. Today, since, seeing the 5s rare their ugly head at me I decided to buy another less risky stock on a pure dividend play. Some diversification is good.
Having said that I'm a long term holder in BPC and have always held due to the prospects.
Black gusher ;)
Who was it that said...
'put up or shut up'..?
I expect us to be in good double figures within a few weeks and significantly higher on any FARM IN announcement, for which I expect an RNS soon, imo.
It's impact on reliance on the CLN & possibly further development beyond P1, is a gamechanger and the EA opens the door now for its conclusion.
It's been emphasised that it's 'Firmly on the table'....at this stage and just after the EA.....for a reason.
Atb
I've done the exact same thing. Was in here a few years during the 1p days and made a profit.
I remember offloading many of my losing stocks and those which had completely stagnated, to Buy BPC.
Many would have just been tucked away doing nothing and others, like my SXX holding, gave me an opportunity to make back the significant losses incurred by those holdings.
I think many followed the same suit and will no likely continue to do so and given the reasonable anticipation for a very significant Upside through drilling.......and seperately, the possibility of finding a huge, World Class resource at the end of it.
Hopefully the Farm in can provide us further Opportunities beyond solely Perseverance 1!
Good strategy to rebalance & rejuvinate a Portfolio, imho.
Make your own choices of course.