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Trek, BPC came to AIM 12 years ago this month (Sept) by reversing into Falklands Gold & Minerals so how have you been investing in BPC since 2000?!
Hello Page, by "quite" do you mean fully or only partially?!
Thanks.
Trek thanks for shareing your workings.
I agree sp will drop if the placing price is low (It will be!) as soon as they start selling to derisk for their free ride. We will have to wait weeks for a recovery to the heady days of 3p and £120m mc.
I'm only hear because an old boy who used to dive for exploration company has seen oil coming out of the seabed!
Gla
Bookbuild quite successful.
Hi Jimtheknow, et all,
Your post at 2041 was v good and portrays the financial risk.
You (I know) see how important that is.
Unfortunately many peeps investing don’t know how to read a balance sheet and hardly understand the finance terminologies.
Therein lies one of the reasons why punters lose on aim and why I get regularly ‘****ged’ for calling the money side before anything else!
You see it’s easy to be seduced by aspirational figures like TMS - total market share or TAM- total addressable market or ME structures-Middle Eastern structures. You (and others) get the gist.
I have always maintained bpc is a one drill punt. The other bits and malcy ramps don’t interest me.
Having been mostly invested in BPC since 2000, I remember ‘The Mysteron’ and his sign off of
00
He was the poster that started me on this incredible journey of working up from next to nothing to a fabulous holding on AIM and then came Bluehorseshoeloveschipfat! who through his generous posts got me to be contrarian by reading TA. I don’t care what anyone says it’s an important ingredient for any investment decision and I now have many free carries as a result of his logic!
Anyways both ‘TheMysteron and BHSLCF, or just BlueHorse or Blue has probably moved on to join AB and our Creator now!
Ok Trek what’s your point!
You don’t know how difficult a decision it has been over the years to sell bpc! I have done that successfully many many times.
Tomorrow I want the price to tank! Worse case is it holds then tanks.
Lower the better imo!
Bring it on! Those fully invested just close your eyes for a week!
The dilution is minimal, no complex financial strings attached!
Imo this atm is the best trade on aim.
Watch the sp then buy or sell before TD or 10p ish whatever your position m.
Listen now to my opinion lth’s.
Look at Txp. No big rise before drill it seems to be the way now.
Imo reduce into buy side news buy sell side news but keep a core holding.
Always what you can afford to loose!
Atb usual caveats!
Trek
Thoughts on placing. Investec have some clients that want in and on better terms than the Bahamas Family Office. Oversubscribed at 2p however probably will be nearer 2.5p if they raise more than 7.8m due to demand. Investec will back it at a fraction under the placing price and forward on to their clients. ie 2.4p for 2.5p placing. Profit the difference. These won't be flipped for profit due to the investment case now presented by BPC. Mention of the farmout in the placing and how the money will be used for expanded drilling if a partner comes onboard. Maybe they've had a nod and wink and institutions are being kept sweet for future needs.
Hi Jim, I’m not going to argue as I have great respect for your views. I believe BPC has such faith in P1 that it will unlock the unrealised potential of the CERP assets and that will justify the “merger”. Time will tell. Go well.
SF, in may ways you are right, except for the bad taste CERP leaves. We could have done exactly the same without them, at a higher sp and therefore less dilution. A placing is no surprise and one of sorts had to happen in some way, but until we shown different it would appear there were better ways to do it without CERP in tow. We all know in the current oil climate we are still going to be dead in the water if P#1 is a duster, with or without CERP.
We continue to patiently await the magic we're expecting as a result of the CERP deal.
If successful, this will reduce the overall finance cost. What’s not to like? It’s replacing one source of finance with another.