Member Info for bapuk

I think BPC do read the BB as that’s how the pick up on the sentiment/rumours driving the SP...so I’m hoping there’s no technical reason why they couldn’t still adjust the OO terms (other than the 2p price to buy at) before Monday, ie add warrants to any open offer shares bought.

As announcing something like that would certainly create a positive feedback loop: a) current shareholders b) prospective shareholders enticed to buy even at/above 2p in order to qualify for warrants, which would then drive the SP above 2p, which would validate everyone’s purchasing at 2p in the open coffee and then successfully make for an oversubscribed Open offer....

Can but dream
:)
Bapuk

As a shareholder, I’ll definitely be taking up the OO as I want the company to be able to drill, as that will set a light under the share price such that 2p will be a distant memory.

I just wish they’d offer eg 1 warrant for every 2-3 shares subscribed to, surely that would further incentivise shareholders to buy via the open offer than on the open market ...?

Exciting times,
Bapuk

Dear all

I don’t wish to go over what’s been covered in posts these past few days regarding the tragedy, but in trying to read the media write-ups, the destruction seems to be confined to the northern Bahamian islands Abaco and Grand Bahama ie the main government centre of Nassau (New Providence island) escaped unscathed? I’ve only been to the Bahamas once on holiday, to Nassau, but it seems to be a vast collection of islands but 4 main big population centres.

At least the main decision making hub/bureaucracy in Nassau can get on with the business of rebuilding, and like some have said, prospective oil exploration (with a view to revenues) may be given closer attention now...but at the same time, there’ll be more scrutiny of BPC’s Environmental permitting that any planned infrastructure is made Category 5 hurricane-resistant to avoid oil spills as has happened here...?

It would also seem likely that any drilling for oil would be planned for to avoid June-November hurricane season, which will narrow the window further for BPC/potential farm-in partner(s) to get on with things...?

Hope matters on the ground improve for those suffering, I don’t think BPC is the devil or saviour,

Gla
Bapuk

Hi all,
Like many, have been waiting for news to bring some life to this baby...looks like it’s all stirring into motion now...it’s taken awhile to digest the pretty long & repetitive paragraph in the 21 Aug RNS: and good to note short term time frame for news in the next few weeks, assuming all the resolutions get passed at the AGM -
“the Framework Agreement requires BPC, on or before 11 October 2019 (or such later date as the parties may mutually agree) to notify Seadrill that it wishes to "Go-Firm". Along with a Go-Firm notice BPC must provide Seadrill evidence of BPC's finance capacity in order to enter into the Rig Contract. At the same time, the parties must confirm the rig selection and critical Drilling Plan dates.“

Exciting times to be a BPC shareholder,
Bapuk

Hi all As someone may have already posted, some of the sells just below the midprice are actually buys...for example, I just bought the 176401 shares at 1.695 but it’s showing as a sell... The reason I’ve toppped up for the 4th time in 2 months today is this share will go ballistic with the next set of positive news, this is just the lull before the storm...there’s never been a better time to be positive about BPC than now, Imho Bapuk

But so long BPC hasn’t signed the dotted line with any major at the time of placing rns last week, they haven’t done anything wrong , even if in 3 days time they announce with fanfare a farm-in deal....sure, they may want to seem cleaner than white so not as to have such a close timing of such an announcement but mates rates’ placings before big pay day are surely the way these companies/governments operate....:) Imho Bapuk

Jimtheknow, I agree entirely with that opinion...although I’m not “in the know”, with the placement done, I think THE rns we’ve been anticipating could still drop anytime, multiplying the current sp several times Gla Bapuk

Considering the political sensitivities, I think BPC would be advised to time any deal-making RNS pertaining to drilling either simultaneously or after BG makes the announcement first - otherwise once again environmental groups will claim the company is being high handed .... Which means we either get that announcement we’ve all been waiting for in the afternoon ( Bahamas morning time) or after hours UK time , which can then be RNSed to all market participants at 7am the following day before trading opens, IMHO Bapuk

I know some traders close out their open positions on a Friday to bank their profits/not be locked in over a weekend. But confirmation of a deal could land at any time eg 7am Monday rns/out of hours. If you’re not in it, when the sp opens at some multiple of current sp, you’ll have missed out big % gains compared to the 20-50% last 24 hours trading gains. Unless you bought at sub 1.5p, then hats of to you as already 1 bagged but even so 4-8 bagger is on the cards just sitting tight on 1.5p rather than selling now. Sure there’s a risk no deal announced but if you look at the last couple of Rnses and AG’s comments, there ain’t no smoke without fire...even if Macquarie are trying their best to keep any deal-making confidential till ink is on paper. Imho, but to each his own, Gla Bapuk

The cat’s out the bafmg is why ...a deal is around the corner not months away That’s why the sp is chugging along as the smart money knows even at 3.5 now to buy, there a huge profit to be made Imho Bapuk

Investz, There were a whole bunch of posts here after the rns last week but they all seem to have disappeared! Strange shenanigans... Gla Bapuk

Is today not tomorrow. I got it wrong when I also thought it was 18 th, had to read up what it meant! Anyone buying today will not be considered on the shareholder list tomorrow due to t+2 settlement nature so today is the first day the share will trade without the “value” of the dividend ie ex-div date. Imho, but as someone posted the other day, just call your broker and they’ll explain it to you, Bapuk

Hi all I can’t see how the sp will drop on the 18th as that is the ex-dividend date, not 17th ? From Rns “The Company intends to pay the dividend on 8th February 2019 to those shareholders on the register on 18th January 2019.”...so you can’t sell on 18th if you want to benefit from the 15p per share dividend. But you can sell on 19th, and so long it doesn’t drop by more than 15p than whatever your own purchase price on, then you’re in profit.... That’s basically it as far as I can work out imho, Cheers Bapuk

Why wait to buy back in the NY? Sure, all the weak/week traders have sold out since unlikely any news till post 7 Jan but those same people will be driving the sp back up to 13-14p when they buy back in first week Jsn in anticipation of positive flow rates news. So good chance to beat the crowd by grabbing these sale prices now :) Imho Bapuk

In a minute....it makes sense to buy now that we’re above the last resistance point of 12.8p, whether as shortterm trade to the next resistance point or beyond, nice profits to be had .... Imho Bapuk

As can buy at 13.569 which appears below midprice of spread... Beware such MM games in coming days and weeks as always.... Imho Bapuk

13.475p to sell now so strong demand for these shares of gold (oil)! Gla Bapuk

13.3/13.5 on td direct investing now... Gla Bapuk

The other thing about the RNS is that it says at least 3.5 million so it may generate more revenue than that. Like some others here, I think a placing is highly likely but as an investor I don’t mind if the terms/ amount of dilution is reasonable for the exponential growth in revenues to continue. The mcap is ridiculously low for the current revenue expected let alone any future contracts announced, even if one factors in 25-50% more shares in issue, Would like the placing to be announced early next week to clear the uncertainty, Imho Bapuk

I bought in here yesterday at 11.2ish p after SCC positive news, already have UKOG. Surprised this hasn’t gone up much, are people holding back in case there’s any placing ala UKzoG recently? Is the company fully funded for the upcoming drills? Gla Bapuk