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willec
So Saffron is now producing more than its initial 25-50bopd? Can you provide a link to confirm that?
Touché
A prolific basin that had 50 drills before success, you have written off Bahamas play after just one drill! Connect the dots??
If BPC had a licence there, I would be interested. But being as the North Sea is a prolific basin, I wouldn't be that concerned of a possible non commercial find.
Really? So historical drill benchmarks not of interest?
We are producing more than that come on read up on the SWP.
The SWP will be the company maker.
I'll take your word for it as North Sea discussions don't interest me.
50 non commercial Wells is hard for me to accept though without reading it somewhere.
willec
25-50 bopd initially, presumably less now, if anything. Are you serious?
yep, but 1960s tech - far inferior to today.
AMOCO’s Montrose field in 1969, followed by BP with Forties field in 1970.
.......and we have already a commerical discovery at Saffron, so not doing badly are we.
So why all the negativity
50 non commercial Wells were drilled in the North Sea before commercial quanities were finally discovered?
Heres some historical drill facts from another BB
"People forget over 50 wells drilled into the North Sea by many different Major/Tier1 companies
before a commercial discovery was made and look at it's success since.
Never say never , it only takes one transformational thing to turn a multi year dog into a multi bag market winner"
GarryGraham, great posts and I certainly agree. Sadly I smell a COVID drill delay and it even being paid for in shares, if good news was available why wait to deliver it. As I said I will sell up fully on Friday if no news, and wait. It is pain for a loss but any further dilution on large scale then IMO this will never deliver shareholder growth and only become a trade game stock for me. Certainly time for many % swings if they are going to run on a dilutive game like UJO and UKOG of past. Trust and sentiment has gone for the moment. The next RNS will either blow us out the water and get growth back or start that long spiral drift down of dilution. Keep an eye on those trades ! We all have a choice to buy or sell but for me unless they deliver a blinder that gets me 3p then trading may be the only way to get some of my losses back here!
If Potter is not doing interview, then basically IMO there is nothing spectacular to deliver.
Ross: Nothing would give me greater pleasure to doff my cap to Mr Potter our CEO if he pulled a few rabbits out of the hat or turned the company around and ultimately the share price responded positively as a result of his leadership. In truth, I am not brimming with the confidence of this happening. I can only go on past performances and I think the board of directors and senior leadership of BPC are very weak. All in my own opinion and I would love to prove wrong and I will be the first to congratulate him and eat humble pie on this Bulletin Board and apologize to everyone. GG
willec?
Actually potter stated in his last appearance that they are in talks with company’s that may drill for shares so may dilute for drills
(this offer expires at 4:30pm today)
(I’m happy to treat an S2 spud on or before 20th May as being mid May)
willec
I have £10 for the charity of your choice if Saffron is spud in mid May 2021, as long as you have £10 for the charity of my choice should it spud later. Deal?
We have a spud date so what is the problem with S2. They would not go ahead with spud if they had no funds for the drill - would they now!! duh
GG
Yes, but you then basically give us a list of assumptions. Assuming the worst can help you to protect your capital and past performance certainly encourages such assumptions in this case, but again let’s just wait for the RNS.
Just wait for Saffron 2
Ross: "Neither of you has a firm basis for saying what you’re saying - you’re just speculating. Wait until you have an RNS to get your teeth into". Absolutely agree. Everything on this board is assumptive and based on wishful thinking. It is nearly 3 months since the ill-fated RNS of 8th February and we have heard absolutely nothing. The reason we have heard absolutely nothing of any substance is simple because there is nothing to state. There is no Joint venture or farm in , there is no further news on the court case, no amazing findings from the drill results on P1 drill. Nothing. We are all sat here on 80% losses and totally boxed in. Leo Koot has left all the old cerp shareholders dangling with a wilting carrot and the BPC shareholders sit daily arguing amongst ourselves because our CEO and commercial director ( Remember him ) have downed periscopes and gone submarine on us. The share price will go absolutely nowhere and may drift further downwards without anything of substance. Potter is boxed in he can hardly look to raise more funds as the SP is so low it doesn't look financially feasible to raise more funds through further dilution. In short, this company and its shareprice will be floating around like a pair of Fred Smith's speedos in the crystal clear waters of the Caribbean. All in my own opinion : GG