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Willec
This is the start of a new beginning with dfrilling for most of 2H of 2021. Looking forward to many drills and much high sp end of 2021
New beginning of what ? Surviving ??
The BoD of BPC need to rewrite the prospectus as the BOD consists of: William (Bill) Schrader (Non-Executive Chairman)
James Smith (Non-Executive Deputy Chairman)
Adrian Collins (Non-Executive Director)
Ross McDonald (Non-Executive Director)
Simon Potter (Chief Executive Officer)
That's on page 8. I won't be reading any more until the Bod gets it's act together and writes it properly.
Did you miss that Starchild?
Bully, good info thanks,
and hat's off to a bona fide public service from Jamesbond001!
While we're comparing things...It has also been implied on this BB, that the Suriname onshore is comparable to the Suriname offshore. I would love to see a justification for this!
I think these birds are unaware of their feathers! If I was looking for a Comparison to BPC, I would not look to TXP or Trin. I would look to LGO or RRL..
Star
Are you serious about your comment below,
"Some dilution may be used to acquire other assets such as CERP. READ the prospectus"
This dilution is about keeping the lights on and nothing more, and you are talking about acquisitions, get a grip man.
This is the start of a new beginning with dfrilling for most of 2H of 2021. Looking forward to many drills and much high sp end of 2021
Starchild: It's really unfortunate that while you acknowledge my post but, you couldn’t acknowledge my silence till this post. My post will only hurt the ‘person’ who is managing this share with no skin in the game, but it will help the ‘person’ who has 10’s of millions of shares invested.
In all honesty Starchild, how can you share the ownership of this company with a CLN lender who can just takeover the company if the loan is not paid? If the company does well, they will get the 1st dips and if the company struggles then they can take over everything, sell and recover their money.
See the scenario now, if you and other PIs do not cough up £5 million while diluting yourself, the CLN cannot be drawn at 8p. We all know how successful the open offer funding call was before percy-1, even then, PIs did not put their money, what are the chances now that too for £5M, I wonder!
I just couldn’t fathom how someone who runs their own business and been successful at it to has 100’s of thousands of pounds to invest into BPC, not understand the risk reward benefit left in this stock. Hence, my conclusion that you were not invested and the reason for my last post.
However, if you are a genuine investor, I wish you very well and will repent for my action… as you know KARMA cuts both ways.
I think bizell are just going to buy in, cause before one of the conditions were that Simon Potter be the chairman. They are look, for a big no brainer smash.
Secondly stop responding to trolls as you put it, just do not reply so their post just drops of the boards. Your helping to control sentiment.
The £2m at 0.8p has been unconditional since the 16th Feb and was unconditionally meant to be settled on 28th Feb. The agreements can be RNS’d but unless the board is going to hold Bizzell to account (rather than renegotiating and giving them a board seat), the commitments are meaningless.
Now apparently they are going to put £2m in even if S2 fails. Fool me once....
(And the original terms for the £3m were 2.5p, not 0.8p. 0.35p is the second capitulation.)
90% water, now your just a liar. Pulling numbers out, the middle cruse was always known about.
Jamesbond001: I am saddened by your post attacking me and accusing me of being a paid manager of the stock. I am not.
What makes it worse is i'm more than £100k down, so posts like yours do hurt. I have 10s of millions of shares and substantially increased my holdings since the spud result.
However despite all of this, I wish you well.
Starchild
The only thing I do not like about Uruguay, is the attitude towards uruguay, why the hell do we need to reconfirm things if professionals for their state company have done it. Why waste the money?
They are not cowboys, so much work has been done in Uruguay where not to go should be pretty certain.
You are missing the point entirely, the point being they were funding via a bank in Trinidad before they had a dam thing.
They would not even have had decent collateral. Trinidad is different when it comes to financing, the only reason they have not probably even looked is.. Well, I do not know why, probably they are not that familiar with how things can roll in TnT.
The devil is in the detail, and the parameters of similarity between touchstone and cerp were completely missed on you.
There was always a chance touchstone could have been a duster.
Ah, in fairness Starchild, that is what you were saying. My apologies.
ZagEgypt: you have no shares in BPC and therefore cannot vote. I will vote how I wish and generally vote in favour of Board recommendations as they know their company better than I do. If I didn't like the direction of a company I would sell up.
As for dilution, the BoD are shareholders and don't want dilution. Some dilution may be used to acquire other assets such as CERP. READ the prospectus
Are there any actual BPC shareholders on this BB anymore?
Starchild
3.3.3 (b) The date for funding and issue of the £2 million of Convertible Notes PREVIOUSLY committed on an unconditional basis and initially intended to be drawn / funded at the end of February 2021 has now been rescheduled to be no later than 14 June 2021 (that is, concurrent
with the anticipated completion of the drilling of the Saffron #2 well, but not dependent on
the completion or outcome of the Saffron #2 well), as well as NOW EXPRESSED TO BE CONDITIONAL on the Fundraising having successfully secured at least £5 million,
Thanks for providing the prospectus info Starchild.
Have a good Sunday.
We have a great plan ahead and all we be good in 3 - 5 years - just be patient. Saffron 2 is the start with a lot more to come H2 2021. And FFS trolls who do not own shares (probably 95% of you) Just BU@@ER O@@ !!!!
Common man, enough of the now Starchild... I am not the type of person who wants to affect other’s chances of exciting this stock with minimal losses, hence I was not weighing in till now, I took a loss of 80% after percy1, took my money out and moved on.. I did not comment because I wanted others to have the space to understand and leave the stock as and when it allows...
I initially thought you were a genuine guy who invested massively, so after the percy 1, I thought you were averaging down to get above water and exit but I was sooo wrong man. You are being paid to manage this stock, maintain the sentiment, and fool the new lot of investors who have no time to do proper due diligence, they just see your long post and think this is it... I guess you say to your conscience that people like this should lose their money but you know KARMA right? wait for it....
This stock is done..... if you are a gullible investor then may god save you... if you are a paid manager of this stock, then he know what to do.....
I know why Bizzells are funding this.. and what this will become in future.... I can't say this here but any one who can do a thinking exercise for 10 minutes can figure out what will be the end game of this and who will benefit, it’s a CLN, let that sink in to your brains....
Remember the infamous line from our new CEO ' 2p, 3p, 5p... they are just numbers... if we find what we are hoping to find then.....' just change it to ' 8p, 5p, 3p... they are just numbers... if we can get what we are hoping to get from you then.....'
All the best guys... and also to you Starchild... please have some mercy on people.
Star
Madness, you are voting yes to everything the BOD want, and this is giving them the opportunity to further dilutions. If I read correctly, they want to be able exercise 750 million when they see fit.
The next placing after consolidation will be swift and you will still blab how needed it was
Uraguay is very very interesting, as the country is hungry the market will like the sound of farm in and the expenditure has been so low, with no commitment to drill, the pressure is on the government. THANK GOD FOR THAT.
Cause no offence to the bird, they do not know how to do things on the cheap at all.
READ the prospectus. £2m @ 0.8p (8p new shares) is UNCONDITIONAL, subject to a minimum of £5m being raised in the offering.
Bespoke: The answer is obvious based on SP being 0.5p-0.6p until thursday and for 20 days before. Read the whole prospectus. DYOR and and I suggest you email Bizzells direct for their motives as I appear to be lacking communication skills this morning trying to explain a simple concept taken straight out of the prospectus. But, I will try and explain one more time, before doing other family stuff.
1. Bizzells do not want to fund anything at the current SP, until the legacy debts were +/- paid to LOL and Stena etc.
2. They will fund £2m at 0.8p as stated in my previous posts, because they believe in SP upside without having these debts to service.
3. without legacy debts, BPC has a lot of potential to move forward as stated in the prospectus
have a nice day
Starchild
Whats to stop it getting renegotiated nearer the time.
As for Bizzell seeking advice I think they are in the business of giving advice.
Star. Why is the first tranche from the CLN getting converted at 0.35 and not 0.8?
Please explain
Comment.... 'If Bizzells were so confident why would they not lend £2million at today’s share price? This is so stupid, its laughable'
A: because they want the placing to clear legacy Percy-1 costs and LOL. Then, Bizzells have the confidence to lend more at 0.8p (8p new shares), because they believe in the company and its SP will be more than this in future.
As for 'laughable' or 'stupid'... if referring to me for misquoting the prospectus, read the prospectus to prove it was stated.
If referring to Bizzell being 'stupid', I do believe they got professional advice, and the collective experience and motives of those involved, is somewhat at odds to a non-shareholder who wishes for BPC to fail and machine gun posts negativity 24x7.
Always DYOR. I am sure Bizzells did
Starchild