Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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POC - the comment "Time to buy more shares. 2p is a gift." I would add that not as much of a gift as the price was a week ago!
Let us not jump the gun as yet - the whole scheme of going it alone/self funding has yet to be ratified at the AGM.
Certainly not suggesting it would be problematic but never a guarantee here.
Agreed. It's no biggie that we self fund the drill due to keeping 100% of the asset. The fact the investment comes is a testament to the work and technical robustness of the prospects and their chance of success, imo
The AGM is roughly halfway between this week’s update and the 11 October so what sort of half-time team talk will Potter be able to deliver then. Hopefully we will be a couple of nice strikes up and able to coast a little in the second half rather than having to come from behind. Note the CLN also seems to be subject to DD still by the issuer. Good Potter has retained the right to totally ditch that component should attractive full farm-in or other offers be on the table. Given the binary nature of the 11/10/19 date with the rig supplier, would imagine further fund raise to tick Seadrill’s box on full funding being in place by that date should FO not be secured then they would be looking at a fairly sizeable placing that will circa double the number of shares in issue at current price (depending on what other funding options also alluded to are). Hard to see the will do a rights issue given the longer time to organise.
We will find out in next 6-7 weeks - one way or the other - and what that will mean for existing shareholders!
Hope so. Apart from the prospects, the drill costs can't be ignored and the fact Seadrill, BakerHughes and Halliburtons are signed up.
Hopefully they sign on the dotted line soon then Page... :-)
Hi Par
Simon did not “refuse” to speak to the journalist he was unavailable for comment.
Hopefully that means he is up to his eyes in negotiations and hasn’t the time.
The RNS was very detailed and I suspect had everything that could be said in it so no value to BPC to talk to the Press. The less oxygen given to anti drill factions the better.
In addition I suspect that Simon is probably paranoid after all this time and at such a sensitive point in negotiations about making a dodgy comment.
He could of course be unavailable as he is signing a deal in some Major’s head office!
GLA.
Exxon execs impressed with drill costs.
:-)
In Houston, so not able to talk.
"Unavailable for comment" doesn't necessarily mean 'refused to speak to'...
I would imagine it's a very busy time for BPC at the moment, and any press interviews will be carefully managed.
Nice to read Neil Hartnell's report in the Tribune. I wonder why Simon Potter refused to speak to Neil about the latest RNS.
Neil has been avidly following BPC. Hmm. Not very positive in MHO.
Time to buy more shares. 2p is a gift.
Farmout more likely than less likely. and on very favourable terms or BPC will just drill it and keep it for themselves. All going to happen quite rapidly due to imposed time frame of 11th October and BPC drilling in 6-8 months time.
http://www.tribune242.com/news/2019/aug/22/oil-explorer-in-2020-first-half-well-drill-goal/?news
Mr Potter was not available for further comment, but one source familiar with developments said the series of agreements BPC had put in place gives it options as to which route it will take to reach the end goal of drilling a first exploratory well. “All doors are open,” they said. “This is potentially nation changing for The Bahamas.”