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I concur with your post Tuckman.
Totally agree, the post from Eggchaser was spot on.
Repost
Fantastic posts Eggchaser, extremely valid.
Starchild unless you have some inside knowledge of what is coming in lines of funding mechanisms then (not investment advice) your lack of CONCERN is IMO very worrying. Your 0.8p target drift up could be so easily a drift down to 0.4p on further share issued dilution. Unforeseen problems with technicalities or contracts, licenses etc for the Saffron drill could cause more concern. Not all drills go to plan. You IMO are sounding more like a gambler as you only see the upside and win and have no concern or lack of any thought of potential negatives within the company, some would class it as reckless. I really hope this works but I now see your posts in a different light. Your money your choice , like we all took the gamble on P1 and it failed. Maybe you know something we don't , but yes we shall be rewarded if all the ducks line up and pass the test. Years of underperformance and lack of share price growth if the company have not learned lessons from the past and dare I say it , any problems further down the line.
SC
Two fully funded spuds.
I assume one of these fully funded spuds you are referring to is Saffron 2.
If it is fully funded has the contract been signed to start drilling?
Can you tell me where to find that info.
If it hasn't been signed its reckless to say it's fully funded and tell people to buy.
From this Friday 16 April or soon after, news is expected on various fronts:
1. How much, if any, is owed for the £3.75m LOL 188m shares Put option and how it will be paid.
2. Whether BPC and the Australian investor will exercise the additional £3.5m loan option, repayable by 31/12/23.
3. If agreement has been reached on the disputed $7m Percy-1 costs with suppliers, mainly Stena, and if so, the payment schedule over the coming months (or year)
4. Short-term funding / cashflow reconciliation.
5. Confirmation the Saffron 2 spud will happen middle of May or very soon after.
6. An update on Suriname/EWS preparation for the summer.
7. An update on the court process and whether the judge has accepted the environmentalists’ excuses for unilaterally extending the $200k costs order until 15/4, without seeking permission from the judge.
8. Technical information of the Percy-1 autopsy.
9. And possibly…. Bahamas farm-in/JV news.
Opinions
As an LTH with more shares than most (10s of millions), my BPC ROI investment objective and strategy is based on weeks and months, not days. As such I have NO CONCERN whatsoever on the upcoming news-flow and very much looking forward to it. However, I accept and respect that day-traders do not share the same strategy.
In the meantime, trolls/BPC haters some possibly acting for special interest groups, allegedly have NO strategy other than to hurt BPC, its share price and its shareholders. They saturate this BB by posting negativity and generally appear when the SP has increased or is expected to rise, as is the case now.
I believe the SP will meander its way to 0.8p this week based on expected news and potentially increase substantially more leading to, and during the Saffron spud. Refer to my previous posts written in good faith for detailed deep-dive research and opinions for the how’s and whys: https://www.lse.co.uk/profiles/starchild/ . Caveat: I know BPC inside-out, but I do not profess to guru status nor being a clairvoyant.
Simply put, if you agree with my recent analysis, BUY. If you believe despite two already funded and COMMITTED spuds (Trinidad in May and Suriname in the summer), there’s a long-term funding issue or the spud results will be inconclusive, don’t buy.
Above is IMHO, so always DYOR. GLA
Starchild
(This post is slightly edited from Sunday and reposted. The whole message thread was deleted for reasons I am not aware of)