The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Should be really good conditions (as far a conditions go) drilling the Bahamas, I expect news to leak extremely quickly during the spud due to close proximity to land and most likely cell reception on the rig. Very interesting times. People on land with binoculars will probably be able to see oil gushing out of the well :-) :-) :-)
Believe rigs coming. Just read Seadrill news and they have 2B of contracts in the bag, 750m of that coming in this year alone and believe BPC must be one of them. Their only delay is one for Norway which I understand is being tweaked to operate better in the deep and much harsher weather conditions up there.
If we take what Simon Potter said in both his recent telephone interviews, regarding rig costs...
He said, and I paraphrase, we don't want the rig for a day too long, or a day too short, we want to time it all just right.
LW,
Sorry that didn't make sense. Anyway, think you get the gist. lol I must put down the wine switch off the computer and switch on the laptop and rest on the sofa. lol Dow is back over 25k....
LW.
Hard to stop peeps speculating. Especially, day traders. I'm quiet happy to go away for six months. Mind you had I done as I was thinking 2 days ago I would of increased my position. Besides my dog was telling me what to do most of the day today. He's a better speculator then me. I was do what he tells me to do. rofl.
I think you’ve absolutely hit the nail on the head and I say that as someone who has been through this exact scenario before, us investors want things to rush so we can get our money, the company cares not about timeframes to much extent as they are focused on getting all the i’s dotted T’s crossed, because if they jump the gun the ramifications of a delay due to something missed is, as somebody already said, somewhere in the region of $220k a day plus ancillary costs. This part of the process is painfully slow from memory so everyone needs to stop (wrongly) speculating and let them get the things done that need to be done. Imo.
LW, Agree but they have been at this rig contract for some considerable time now and they have publicly stated they have the rig, albeit not in an RNS yet. I am absolutely sure there are no threat or worries with obtaining the rig, i'm 100% confident it is in the bag, i just think it is convenient for the company to do this at a leisurely pace. The volatility and uncertainty in the SP is of no concern to them as they are 'in the know'.
Also don’t fail to pay attention to the bigger picture - the wall st daily cash just broke 25k - a key level and oil
Just broke $50 so no point I releasing a super positive drill RNS into that kind of market, nobody would care. Better to hold back if you can until the market settles.
It always easier to suspect that there is something dodgy going on it the background as a reason the price isn’t where a person wants it, truth is there is an awful lot of paperwork and sign offs and insurances to attain before they can say they have a drill rig.
Because BPC are dragging their heels with it to allow the wealthy Bahamian family-office investor to get his hands on his 48m shares so he can flip them straight into the last pivotal piece of news on Tuesday (3rd). No good to the investor if we all fill our boots prior to this - I scratch your back, you scratch mine. That's what i think.
Get 'em while you can.