Member Info for armatrading

Yes, I believe it's still on the cards BlackBat17.
The hope is to extend the Mutual Fund so that anyone with $1,000 to invest can do so, instead of the current $10,000 minimum.

If we take what Simon Potter said in both his recent telephone interviews, regarding rig costs...
He said, and I paraphrase, we don't want the rig for a day too long, or a day too short, we want to time it all just right.

https://www.malcysblog.com/2020/02/oil-price-rockhopper-uog-iog-bpc-and-finally/

CorVir-19 Vaccine trials to start within six weeks:
htTps://www.cnbc.com/2020/02/25/us-health-officials-say-human-trials-on-coronavirus-vaccine-to-start-in-6-weeks.html

Thanks Novice2006.
From the article:
"Shore Cap has today updated its valuation to reflect the progress towards Perseverance and, pitched at 8p per share, the broker’s ‘risked NAV’ for the company compares against a current share price of 4.25p."

Possibly delayed reaction to coronavirus. Remember how the price confounded the market drops... the anticipation of good news imminent. The RNS didn't happen, so the coronavirus effect is now happening.

It would be something of a genius move to sneak in a placing at say 25% discount to 5.5p, whilst market chaos was occurring. This would make placing price around 4.1p.

CorVir19 aside, I was wondering if some of the BPC falls today were to do with a sneaky placing. We might yet circumvent the CLN. That would be great news.

Not forgetting the RNS of 20th Feb re the Bahamian investor. Pretty material stuff that one.

Thanks Tiburn for those detailed estimate drilling times. It's great to see the schedule written up like that, and as long as it gets started in April we should be okay for results being reported by the end of June/early July.

As a LTH, I certainly remember noblenoggs. I too joined LSE after II changed for the not-so-better.

SLarry - would the £700k revenue from the MF cover the operating costs until at least next June... difficult to gauge, as BPC have now employed extra staff for the project, and have their office in Houston, Texas.

To my mind, nothing i confirmed. There are agreements in principle with Seadrill, but we await the conditions for the CLN to be fulfilled: EA, Seadrill contract actually being signed.

...as long as the EA is agreed.

I think before the anticipation of the drill, we need definite confirmation that the drill is going ahead - i.e. RNS saying EA approved, CLN conditions met, and Seadrill contract signed.

Probably Seadrill rig West Saturn, according tot his article from January:

https://connect.ihsmarkit.com/upstream-insight/article/phoenix/2674525/bahamas-petroleum-nears-charter-for-seadrill-rig

Simon Potter made those remarks way back in 2015, but they still apply today.
http://www.tribune242.com/news/2015/may/22/oil-explorer-new-fiscal-regime-does-not-apply-us/

I tried to set a 12p sell order last year and the broker rang me to query it. Too far from the underlying price, as Bonum said.

It's all nonsense, industry will still need oil for a long time, and there's no shortage of demand (maybe a blip in Chinese demand caused by the CorVirus.). Other countries are still producing loads of coal, etc. It's all just talk.

I would say that if there was a more comprehensive update on other matters, ready to go, that should have been RNSd first thing today. No news = uncertainty, and markets hate uncertainty.
Issuing an RNS wouldn't change the result of the MF, and wouldn't have any bearing or influence on it, as the MF has already closed.