Member Info for armatrading

Ross, I was not suggesting that BPC would be 25p pre-spud. I was commenting on Afterburn450's comment about BPC being a penny stock. It doesn't matter if it's a penny stock. What matters is the MCap.

All things being equal, a ten-fold rise is a still a 10-fold rise, in sp/Mcap..
That would equates to 25p for BPC.

Awww no...

looks like we need a Plan B....

or should that be a 'Plan P'....

I too heard Simon P saying "...off the back of a boat"... it was a little tongue-in-cheek in what was a relatively light-hearted interview with, if I recall correctly, the chap from Vox Markets podcast. But FSPO is a genuine route/ooption for us.

When Simon's phone rang during an earlier interview, he said "That's the rig!".... I believe it's just his sense of humour.

This will no doubt be a pre-spud price target, though.

On 8th October, Investec (our broker) issued Buy notice and Price Target of 6 pence:

https://thefly.com/landingPageNews.php?id=3171795&headline=BSHPF-Bahamas-Petroleum-initiated-with-a-Buy-at-Investec

12 to 14 days seems to be the consensus AFAIK.

So departure 1st December at the latest to be safe?

Wisdom has Private_Investor got.

I can't see anything game-changing being announced this afternoon, unless another RNS prior to that.

Clear as drilling mud!!

Harry - Eytan will be doing a presentation at the UK Investor Magazine virtual conference tomorrow (Tues 20th Oct 2020):
https://ukinvestormagazine.lpages.co/uk-investor-magazine-virtual-conference-20th-october/
He's due to speak at 1:45pm

It would definitely be a good thing to not have the expense of Bizzell loan. But they can't surely leave it for the market to just infer that the facility has lapsed, just by the absence of anything explicitly to the contrary?

https://energynow.tt/blog/columbus-energy-oil-discovery-at-saffron-well-onshore-trinidad
"I am particularly pleased to share with our investors and the market that, in order to fast track the appraisal/development of the Lower Cruse, we have signed a Term Sheet with a third party drilling contractor to drill a second well in the Lower Cruse, the same contractor who drilled the Saffron well."

From Proactive Investors article by Jamie Ashcroft, 08:02 Mon 27 Apr 2020

https://www.proactiveinvestors.co.uk/companies/news/918136/columbus-energy-resources-confirms-oil-discoveries-from-saffron-well-onshore-trinidad-918136.html

Meanwhile, Columbus has signed terms for a full carry of the second Saffron Lower Cruse appraisal and development well which is slated for the third quarter of 2020.

According to Koot, the company believes the appraisal of the Lower Cruse will be the first stage of development with a net present value of around US$90mln.

“in order to fast track the appraisal/development of the Lower Cruse, we have signed a Term Sheet with a third party drilling contractor to drill a second well in the Lower Cruse, the same contractor who drilled the Saffron well.

“It is expected that the well will be drilled in Q3 2020, subject to a stabilised oil price (above US$35 for a sustained period) and operating environment. The well will be fully funded by that third party in return for a share of the production from Saffron 2,” Koot said.

He added: “I am really excited with our results to date with the Saffron well.”

You could always hire a professional drone pilot....

Lint - oh well, why not, 12p it is!
Patoir - Yes, a fab film. Love Tarantino's work.

“I will execute terrible vengeance against them to punish them for what they have done. And when I have inflicted my revenge, they will know that I am the Lord." or...
"The path of the righteous man is beset on all sides by the
Inequities of the selfish and the tyranny of evil men "

Sounds like desperate straw-clutching. They're criticise the fact that the EIA lists a Seadrill rig, and not the Stena one, without realise the Stena one is an absolutely world class vessel.

We knew prior to today's RNS that the drill is 'technically' fully funded, i.e. that there is access to the Bizzell note. However, the BoD will surely announce whether the required funding 'gap' is from Stena, Bizzell, and/or RBL.
And there's the prospect of the extra options upon the rig sailing "one nautical mile" towards The Bahamas.

7 times your (break-even) investment, would that put the sp at spud at 17.5p?