Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Zag
There are many things that could have been executed better. The LO deal was a stunner, weather we can blame it on EU, or anyone else is up for debate. I didn’t like it, but imagine what would have happened if the drill was pulled before it hit the seabed.
Cheers
Patoir
Here we go again - more trolling
Didn't Eytan orchestrate the worst funding deal with LO know to mankind?
The more I think about Eytan, the more I believe it’s a shoe in for him. He’s got the skills, the youth and he’s got the drive. I think he’ll pull the company around and deliver a sale / farm in or at least a forward presence. I’m still of the opinion that the Bahamas was always going to be farmed out, on terms directly linked to the result at P1. What I wasn’t thinking all this time, is that Uruguay was the farm in de jour. I think we’ll see that attract a partner first.
Cheers
Patoir
He is remaining but going from his position as CEO which is good
Star exactly if Bahamas where going to be an oil producing country it isn’t with BPC otherwise why the name change to failed space mission
Pretty sure potter is staying just in a different role ie working from home still being paid
Potter is going and Uliel is in who seems better anyway through loistening to him in the past so have confidence he will work well as CEO of BPC
FFS more important drills than P1. Saffron 2 is going to be big and drilling next month why sell now of all times.
Just what I throught which begs the question why so much negativity on this board by all of these trolls.
1. They want the price lower to but more shares.
2. They do not own and what to buy lower
3. Just complete idiots with out a clue about stock and shares who have nothing better to do.
There won’t be a farm in, if there was why keep diluting. The BOD just keep thinking we will empty our pockets to keep paying for over paid directors that don’t produce.
I’m not selling at this much of a loss and neither am I forking out for more wages and wasted international travel for people who think this is a big axxe oil company when it’s just hanging on by the skin of its teeth.
You can change your name you can re brand yourself but the share holders want some proper effort in giving back the support we have given when asked to be fully funded again and again.
They are in talks yes. They have also stated May for S2, dependent on the result of their cash call.
Are they not negoiating a farm in, also the spud of Saffron 2 next month and the drills planned for the next 7 months should help. As Eytan Uliel said it is going to be a very busy 2H to 2021.
Hi Willec
I have been a BPC bull since I paid my first pound into the dream. I’m still optimistic for the company.
But, being a realist too, I believe it’s going to take a monumental shift in sentiment to see 6p near term.
Or a farm in.
Cheers
Patoir
Ps 6p current money not after consolidation.
It is what some forecaster are saying acvtually, and I do not see 6p to far off the mark (current sp)
I mean come on!! I'd be happy as hell if true but
how is this a sensible forecast to a new investor "after the 10:1, target of 60p floating around. Great Year ahead time to buy more"
How the hell did your work this out??
So most of us are trolls are we in here?
the only people usually spouting crap are the people who are generally invested in one share only.( Biased opinion)
Its becoming quite clear who to listen to in here these days..
That is what I am trying to tell the idiots who think this is going bust, for example Bully1985.
The problem with this board is too many trolls doing the rounds.
Now is not the time to sell when there is guaranteed oil on next drill have already pumped and sold it.
after the 10:1, target of 60p floating around. Great Year ahead time to buy more
So it looks like my 2p target will now be possibly 2 years away rather than 2 months away. If at all. I doubled my holding at . 45 thinking it was a smart move. Feeling a bit of a fool now.
See the part where it says drill was funded six parts to test three already tested to secure the 11mill barrel estimate. Three more to test so could be more than 11mill on this site alone.
Yes, I do note that the current board of directors are searching for additional NEDS. Our new CEO will need their guidance, both for technicals and commercial. I am sure he can deal with motivating his 80 strong team.
The fact that the restructured BODs (post Open Offer closure) will take shares in lieu of salary is one of the cost cutting exercises (well, let's say cash out saving). But I do prefer a strong BOD, so I would urge the BOD not to waste any time making new appointments, assuming they can find suitable NEDS.
There are two ways to look at this dilution now and i honestly do not know which way it is going to fall so i am edging toward getting out partially but not altogether.
1) This is last minute desperation to keep the lights as Zag puts it and gives us a bit of capital to drill in TT etc.
2) It gives us a bit of capital to say to a major that any bottom draw offer would not be acceptable and get all the bad news out of the way to leave a clean sheet for EU and new board.
The problem i have with the second it is not a new board it is the old board re-hashed. If SP left completely i would be far happier I do not like ex CEO's hanging around for the pension paycheck especially when they have been so responsible for the mess that has been.
As regards P#1 drill. One of the questions that was raised every where on this site by many people were we fully funded. I do not have a problem with not being fully funded for exceptionals like Covid 19 protocols as no one would know what these were going to be or even to cover legal fees for vexacious legal cases bought to try and scupper us.
What i do draw the line at is experienced oil men saying we are fully funded but have failed to take into account problems that seem to happen with many drills. Ie Drill bits breaking, rock surfaces that are difficult to get through so that we end up by not going anywhere near TD because of basics like this. I would have expected experienced oil men to have built into a drilling contingency broken drill bits, a re-route if necessary and those horrible little things called rocks.
If it were my builder saying sorry but i have broken my drill because of the brick work and therefore we cannot go any further non of us would be amused. these are fundamentals in my book. I would also have had a contingency in place to hopefully cover such eventuality. And i thought we did have and that was the CLN could that not have been drawn down on at last minute to cover the last few metres. No this has been a "dead cert" mismatch. So why am i still in because the now the up side is far higher than the down side. But no more money from me and a scaling down of my holding to put else where.
Next week we going to test 0.20s ... and then the only thing that it will take the share price up is consolidation to 1.10 ...And then down again