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SinCe the OO announcement, was there any rns about directors buying shares? It was ridiculous to say that they would buy if the OO is not fully subscribed. Why not they buy even if OO is fully subscribed?
The time for a share consolidation is only when the gusher is so huge that BPC has to consider paying a dividend. At that stage shaking out tiddly holders means it is cheaper for the co to hold a smaller register of shareholders and make a smaller number of divi payments.
“At present far to many share in issue.“
Doesn’t matter how many shares in issue it’s mcap that counts and demand for shares. So you buy 100 instead of 1. The spread at 8% indicates the MM wants to deter buying atm.
Who would buy and sell and loose 8% in a blink.
Imo This has legs now.
Trek
BPC will need some kind of consolidation like GKP did
At present far to many share in issue.
https://www.gulfkeystone.com/media/108652/Proposed-consolidation-of-common-shares-and-notice-of-2016-AGM.pdf
Dutch
No Chance due to Shares in Issue..
what's holding this up is quite simple: they still have a shed load of shares to off-load following the placing with the bucket-shops. This will move eventually, but will be range-bound until then. Could well be another month or more, who can say.
if we do a GKP from 1.7 (ok 2.025) to anywhere close to £5. there will be people on this board looking for property in the Bahamas.
At 20p I will be happy enough.
At 50p or more ... I am likely to 'have a moment'
At £5.00 I am probably beyond help either through delirium or through coronary.
Doesn't stop me dreaming though.
Agree with Linton. All of the pieces of the puzzle are being put into place. Just remember GKP, I HAD AT 1.7P AND IT WENT TO NEARLY £5
The exact rig & well location needs to be put in the EIA.
EIA requires final sign-off to meet one of the key CP's of the CLN.
Then the CLN will pay out.
Its all going to plan as far as we can see to date.
Farm out by end of this year a distinct possibility now IMO.
Morning,
Well price not moved up much on that news although I think it will as the day progresses and news filters down, so what is holding this up, I can think of a few points that people are still wary of but the upside is huge.
1. The funding is in place apart from the CLN and there was a comment about 24 months working capital in respect of the CLN, is that correct?
2. The CLN should be just signed off, why wait if they are not convinced now they never will be, get it done, I thought BPC were close to these people, just do it or get someone else if they can.
3. The main one I think is the Seadrill rig contract, get this done and all is in place as Seadrill board will have approved the contract.
I still think the best way is a farmout and I hope that happens very soon, hugely then derisked.
IMHO. DYOR