The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Ps: See latest news from BPC website re Suriname potential..... 'Upstream - Moving into the shallow waters' (Source https://www.bpcplc.com/news/ )
Direct: https://d1ssu070pg2v9i.cloudfront.net/pex/bahamas/2021/02/26172225/2021-02-26-Upstream.pdf
Have a great Sunday
Starchild
Mother AIM is swift to punish and reward her children. Rises and falls sometimes SPECTACULAR are based on a company’s fundamentals, market sentiment, newsflow and externals such as PoO, Covid-19 etc. BPC’s Mcap today is only £26m and arguably there is not much room it can spectacularly fall further.
Under-pinning everything is BPC’s revenue to pay the bills even at $40 WTI PoO and 500boe/day production. This means BPC is nowhere near insolvency, especially at the current oil price.
BPC has many enemies who want it to fail. Some to the point of hatred and spite who post day in day out on this BB and ADVF attacking and trolling BPC and its LTHs. Others have conflicts of interest and post to suit their trading positions. And yet others have or are acting for special interest groups, 3rd parties and possibly predator companies wishing to leverage assets on the cheap. Karma.
Some argue (without evidence or research), BPC is stuck in a trench surrounded by its enemies and will need to surrender. IMO BPC is by far in the ‘last chance saloon’ or ‘Custer’s last stand.’ The Percy-1 CoS was 35%. Despite the odds of failure being greater than success, BPC management subscribed $400k in the placing on 30/9 at 2p. (Source https://polaris.brighterir.com/public/bahamas_petroleum_company/news/rns/story/rdz1k8w ) Why? The BoD has had ample time to war game all permutations with a road map to eventual shareholder value. Had Percy-1 been commercial, this success would have been spectacular. It wasn’t, but we got the next best thing: …… ‘The validation of a competent seal, good reservoir quality, charge and the presence of oil points to SIGNIFICANT hydrocarbon potential remaining in various independent, untested play systems and structures within BPC's extensive acreage.’……. (Source 8/2/21 result RNS)
We now await the following news:
1. Percy-1 autopsy (news definitely and imminently)
2. Farm-in (news possibly. If the autopsy meets or exceeds expectations, I will dare to say, ‘probably in weeks')
3. Trinidad: production update. Anything more than 500 boe/day is pure profit. CERP reached 1000+ in 2018. (news probably in March)
4. Trinidad: Saffron appraisal well (news definitely in March)
5. Suriname: Appraisal well and extended well test (news definitely in March)
Outlook? The SP WILL fall if ALL the above news is below expectations, but IMO there is not much room for a spectacular fall. On the upside, if some of this news equals or exceeds expectations, IMO the rise could eventually be spectacular.
If you are a newbie, please refer to my in-depth research and opinions here https://www.lse.co.uk/profiles/starchild/ . You will note I only research and comment on BPC as a hobby. This is because I am NOT a ‘day’ trader (with a recent caveat), and have no need, time nor inclination to post about other FTSE or AIM shares I own.
IMHO. DYOR. GLA.
Starchild