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Yeah because it’s surely climbing everyday the sp, oh and let’s not forget all new shares coming into issue just to rub salt on the wound only ever seen one poster say they was up a few days back and even they will be sat on a loss now !
Imagine being in a share that’s like 95% down and trying to take the moral high ground on losses lol
Ok Bully 95% down I agree with you ,What about new investors who gets in You still think that they are not gonna make any profit is that what you mean ? LOL you’re full of s..the
Hey Jonny how’s your wrist this morning - worn out I suspect….
So you going to tell the thread about those losers you invested in…?
I see you
Bo is the settling of those outstanding finances required to be paid in full before or on May 23rd 2021?
SvS, they have now been adequately transparent about the funding picture, or so I thought.
They had $7m in the bank. If the OO/Placing delivers $9.6m and if Bizzell provide $2.6m, then they will have $19m.
They owe LO $4m and the drillers $14m, hoping to get the latter down to $10m in which case they would $5m of the $19m left for S2 and Suriname.
But if the OO does not reach £5m (and then Bizzell’s £2m drops away too) they have less than $14m. How then could they go ahead with S2? Going ahead regardless - spending LO/Stena’s money on S2 - would I think be trading while insolvent, a criminal offence for directors.
Jono we will be informed of the EGM results in due course. For me this isn't about guessing or a need to prove who was right or wrong.
Based the the Q&A video which came after the RNS, I am of the understanding S2 will spud on the 23rd of May. You are of the understanding that if none of the resolutions are passed, drilling will be cancelled.
I am ok with us disagreeing on this.
Egg grow up.
I do respect your opinions but.
"Spud is expected to occur on or around 23 May 2021, subject to successful completion of the current open offer and placing process, and subject to passage of the various resolutions that have been proposed at the Extraordinary General Meeting to be held on 17 May 2021."
Oh look Jonny can see the future - so great is his investment prowess he spends all his time commentating on a share he has no financial interest in - or does he???
You see life has not all been riding those winners has it little Jonny - a little bird says your investment strategy has not been as golden as you would have readers believe - you clearly are nothing short than certain door furniture… and that you will find is all fact….
Jono we are all entitled to post our opinions and debate them here.
I'm pretty certain Eytan said S2 will spud on the 23rd of May regardles and only weather & Covid would delay it.
I am of the understanding that S2 & Suriname funding has already been committed and its the following field development of the SWP that requires the funding that will come from the OO & the potential 750M share placings suggested by year end 2021.
Why would you think otherwise.
It is so obvious that they are struggling to get enough shareholders to take up the offer which is the only reason to extend it or it simply wouldn't have been extended.
The rns last week was also in a way a demand to shareholders to take up the offer
"Spud is expected to occur on or around 23 May 2021, subject to successful completion of the current open offer and placing process."
Successful completion is dependent on shareholders and its so obvious, can't believe you can't see it for exactly what it is.
Jono no one can possibly know that other than the computer counting the votes or the human verifying them.
There were 5 resolutions to vote on. The extention may have been necessary to allow any or all 5 to reach a conclusion.
To claim this as a fact when you cannot evidence it is inane.
By all means claim its the opinion you have.
Let's be truthful here.
The open offer has been extended because not enough qualifying shareholders have taken up the offer.
It's as simple as that and we all know it.
Saying otherwise is in denial of the facts and some will look to try and paint it in a positive light and I can't really blame them as they have a lot to lose.
But been in this situation myself and can honestly say I don't envy them but also I would never ever try and convince others that bad news is not exactly that, for my own sake.
All the trouble started before the p1 drill..
I ended up being trapped in a share that i thought was fully funded to drill.. And endless share dilution was to follow in placings.
To be honest even if they did hit oil, i bet this share would have just been around 10p today with over 6 billion shares in issue no doubt..
The open offer has been extended to allow more time for qualifying shareholders to have funds in place so they can take up the open offer. As for the placing, nobody knows how many shares will be placed until after the result of the open offer at 4:35pm on May 19th. Only after this time will placing shares be offered at 0.35p. Any one wanting to take up the placing will have to do so on May 19th with the result announced the next day at 7am on 20th May. It may be oversubscribed or it may not. The aim is to raise £5m.
willec, you stubborny refuse to recognise that the S2 drill is dependant on the successful completion of the OO. That has obviously not happened. The "Intention" was to place any shares not taken up in the OO with II's. Again this has obviously not been taken up by the RI's as the OO has been extended.
The company has enough money to mobilise and get on site for S2, that's it!
Bohemia "the circumstances " is what evidently what caused LO to withdraw the finance deal. For anyone to dismiss the circumstances as an excuse when they were the determining factors I also think is asinine.
Had the original funding remained & P#1 went ahead as planned in Q1 2020, the result of non commerciality would still be the case. The SP would still have fallen dramatically, also the merger with CERP would have not happened. One could take the view that BPC would have been dissolved by now had the sequence of events not occurred in the way they did.
Forget P1 FFS - we are drilling Saffron 2 in less than 2 weeks
Glide is there a resolution to vote on the handling on the P#1 finance?
P1 was a 30% chance. We all knew that. If it had been successful, this board would be singing the praises of the management. As it wasn't a massive hit (70% chance), this board is saying the management is not up to the job.
What a fickle bunch of posters we have here.
@svs … Asinine? In the circumstances where the BOD are asking for more money from PIs, it is surely very relevant that we discuss their management record surely? The response to the OO is telling.
Bully I am not offering any excuse for the company. Both CEO's have explained the sequence of events. Whether or not they omitted information or have been disingenuous makes no difference. We can't get our investments back or sue for mismanagement.
Continuing to debate what should of happened or what anyone would of done had they been incharge is asinine in my opinion.
It’s also a rubbish excuse to blame the whole LO deal on the circumstances. Yes the deal was written in December and they can blame Christmas and the court case. But the first $15m wasn’t really the problem. That problem was the second $5m option taken. They elected to take that in mid January after the injunction was thrown out, and they had a whole extra month to find better funding or reestablish the
Why didn’t the Bizzell money come good in January once the legal threat that might have stopped the drilling was gone?
Ibiza this is something akin to what Captain Hindsight would say at PMQ's in my opinion.
Why would BPC have secured funding in place, then seek back up funding in case the agreed funding gets withdrawn?
Who gets an agreed loan then goes and applies for another loan in case the agreed loan offer gets withdrawn?
I understand the resentment & frustration and certainly the need to finger point to assign blame but I don't think the BOD had any control over the environmentalists, Covid or the financers decision making. I think your sentiment is emotionally compromised but I understand that we are not robots & need to vent.