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"... .....it's going to require significant or regular news flow to squeeze the coffers of these PIs still further or to attract new punters. Patience required"
Quite agree and as Simon Potter's statement made clear, we have a raft of news releases in the coming weeks, to bolster such a move for the share price. it'll be good to get Xmas out of the way and then push right into the bulk of that news and our progression into actual drill ops.
Atb
Why would they bother to actively pick up stop losses when they know they have a broker ready to drip feed at around 2p anyway? The small drop coincided with the talk around seadrill, which may have got a few punters nervous about a dip (or saw it as as opp to buy in cheaper). We've been in a channel of 1.90-2.10 with the same 5% spread for the past 6 weeks since the open offer / placing price was set. The low volumes suggest that the natural PI base for bpc is out of ammo. As others have said, it's going to require significant or regular news flow to squeeze the coffers of these PIs still further or to attract new punters. Patience required (and fingers crossed).
lots of interesting posts over the last day.
I blame the market makers. Why, after Simon's very positive post, has the share price dipped a tad?
Makes no sense. Unless you realise the MMs love to get people to sell so they can then resell at a higher price. The number of times shares open down 5%, 10% or even more%, so they collect all the punters on stop losses, is sad, but bemusing to me, because I never have a stop loss, because I know what these psychopaths do to get cheap opportunities.
Also, I think, maybe, people are now very suspicious of the blatant shills on this and other sites and they are reluctant to believe them any more.
For once, the shills are posting comments that align with the reality of a forthcoming bonanza, but because these soothsayers have been banging on for a decade about, not marmalade in ten ten years time, but jam tomorrow (for ten years!), perhaps people are wary of their posts that at last may have some credence.
For what it is worth, I am convinced Simon and his board are going to deliver a drill. I believe them now, I never believed their posters who for over ten years put down and dismissed anyone who thought there may be problems. I see pot of gold at the end of a rainbow and I am Irish, so I must be right.
brynjon I noted your reference to Greta in your post. It brings me to mention the passing yesterday of a great environmentalist, natural history commentator, biologist and character, David Bellamy. Never off the box some years ago and one of SIR Lenny Henry's take off characters. This until his opposition to global warming scare mongering, then never to be seen again.
I note Clarkson has drawn his horns in, in case the same happens to him.
It is a bit of a mish mash of thoughts on the outcome of this election. Not sure the Scots actually want out of the union, though the Brexit issue may persuade some of those on the fence types who may not usually vote.
They we have the youth of the day who are up for a bit of a fight it seems and are quite vocal - we had Greta getting Time person of the year the other day. Will they all vote green and glue themselves up?
Sunderland may be first to announce again and until now has been a Labour stronghold - perhaps the result there will guide us on what carnage will be brought upon us.
It will be an interesting nights viewing on the tellybox thing.
What would interest me more though would be to see a little flashing red dot appear on my laptop screen.
Stay safe all - whatever colour you vote for - it is a mad old world outside.
I know where I would like to be going...back over 2p would be the first forward step on the remains of this epic journey.
Intrigued as to what will happen in the election and what the implications will be for the future. As Fatal points out it could be a rocky market ahead. Blue win = Brexit and all the challenges / opportunities therein. Red win = new deal followed by an informed referendum, mixed feelings on that, is it the right thing to have an informed decision or is it going against a democratic process? Yellow (north), could bring about the end of The Union. Yellow (south) not up to date enough to hold an informed view. Purple/Green/NI/Welsh/Other, may as well promise zero tax and a free unicorn as they are not playing on a level playing field and will never have to deliver.
However it plays out we can take comfort in the fact it is not Donald or Vladimir - conspiracies welcome here. Be thankful we have the right to a democracy.
As a BPC shareholder do any of us know where we are going? :-)
Iām saying that when the draft agreement was instigated, the specification of drill was provided and it was agreed that the actual rig identity would not be made known until later in the process,
We did a ThomsonāsāSquare Dealā holiday to Cyprus in the 90ās and didnāt know where we were going until arrival. As you say, cheap as chips.
"On this occasion, I would wish to support Mr Fatalcharm. The rig rate was agreed on the basis that the exact identity of the rig would not be known until the last possible date"
Spiritefan - are you saying this is an allocate on arrival type of arrangement? It reminds me of a holiday 20 years ago with the ex-wife to the Caribbean. Hotel at the last minute & as cheap as chips. Great holiday. Lousy company. :-)
All going ahead then and very positive statement from the CEO!
Good enough & let's get drilling!
On this occasion, I would wish to support Mr Fatalcharm. The rig rate was agreed on the basis that the exact identity of the rig would not be known until the last possible date. It might be 1 of 3 of similar specification. However, that date is surely not long off now as the final detail in the EIA requires this information. When the Board have something to say, they say it. There must be a million details to tie up by a fairly small team, so we must be patient. When the next news is released, Iām confident it will be positive.
steady on Fatal, you will be accused of becoming a ramping shill. Wind it back in before it gets knocked down mate.
joking aside, I think even as an objective person it is hard not to see the case the board are making for the drill to go ahead now. It is very much in their interest to get the drill done. They have the cash (or at least have the cash mostly lined up subject to a couple of hurdles) They are doing what they can to bring the Bahamian people on board. They have letters of intent with major players - can argue the merit of the rights and wrongs of the chosen contractors.
In 6 months or less we will have a fair view of what is in the ground, there will have been opportunities to top slice if that is peoples approach.
Given the time frame many of us have been in BPC 6 months is but a few sleeps away.
Cheers Fatal, keep your pecker up buddy.
Pretty clear to me. Simon is adamant the company will be drilling next year. Simon, while successfully diffusing all the baloney on this site, has made a very reassuring message and we should all take heed this drill will be done. That rig will be moving, never mind 6 inches, all the way to the Bahamas and we will then discover what they find, but it all looks like a good punt to me.
I am feeling really good about this now, after Simon's positive message, so I will now go and have a lie down.