Member Info for barnaby67

I’m going to try and sell half my shares today to take some money off the table. New money here would need to be sub 1p entry point as there are so many unknowns here now including a very high risk of not meeting drill commitment this year. All I hope is that the BG will be reasonable and allow them to defer the commitment to 2021.

Will drop 15-20% with that news in current climate for sure. Doesn’t deserve to but that’s where we are at the moment.

Harry, good post and a rousing reminder of why we are invested here. Had a massive downer when I saw the RNS this morning and shot from the hip. Said this would fall to 2.5p and whilst I am not at all happy with that prediction being correct, I did actually keep my nerve and did not try to sell anything of the 4.75m shares I currently hold (some direct and some IG CFD). My break even is 2.3pm so I could have got out neutral, but I truly believe this will have a significant positive outcome hence why I hold (and see as a joke brained to hold). Jim, Interest, Page and others, thank you for all your posts. Past, present and future. But especially Bonum for your blue sky opinions- today was a blue sky spring sort of day, we are all safe and well so let’s look forward (and get stuck into the card at Cheltenham tomorrow - no-one knows What’s around the corner so we can all afford to punt a bit).

The wording on the insurance bit is interesting, which everything as regards the CLN conditions fulfillment seems to hang on. They say they have proposals, but it is not clear if they are unconditional proposals or containing clauses that the company can fulfill or whether they cannot readily fulfill at this time or indeed at all.

If the latter, then (a) this would be a major f**k-up" by Potter to have said some of the things he has said to the market and (b) it would make us entirely dependent on a farm-out as we would not be allowed to drill without insurance by the BG (leave alone we wouldn't get a rig!). If the majors / super-majors they are in discussions with have wind of this then we are well and truly f****d in terms of the farm-out terms that will be on offer (if indeed we get any knowing we might be facing loss of our licences if they wait longer). Farm-out not the only alternative to the CLN (if we cannot fulfill the conditions), but rather a heavily discounted placing (but that's still no good if we can't get insurance).

To my mind Potter has effectively generated huge uncertainty as to whether we are still on target to drill in April, or indeed if we are going to survive.

That is a big question - has he been misleading the markets with some of his recent statements. One can speculate that showing a position of strength in where the business is regarding its ability to self find the drill helps him with the farm-out discussions. Can’t really blame him for that as long as he stays on the right side of the line in talking things up from his perspective.

Not sold any yet. Going to reflect on my position rest of day and see what happens more widely.

Would settle for spudding anytime at this stage with that update this morning! The question is whether Potter has been entirely factual about whether we will drill in April - must be Severe doubts about that now and what does that mean about license retention. Maybe the BG will see the mitigating circumstances and allow a 1-year extension

First time for a while the price today will reflect again the possibility we may not drill and may go to the wall. I will offload all mine if I can sell at 2.5p for the volume I have. Time to take money off the table with that update.

Will take a brave punter to buy today even if you get a seeming bargain (<2.5p). Going to offload some of mine as would still be in profit at that price!

Prospect, yes, not going to stay in come what may irrespective of actual news and outcomes, but would never be so flakey to sell absent any new news based on the artificiality of no news price concoctions! Struggle to believe in the market gyrations supposedly based on CV at the moment - no evidence of severity of outcomes at the moment. Had a cold and was a bit poorly last week so who knows I had CV and am better this week. Total overreaction IMHO (but with total sympathy for those that suffer poor outcomes as in any winter flu outbreak).

Busy all day so missed the downs and ups of the market rigged price trajectory! Not in the market to buy more at any price (ok within reasonable bounds) as have just under 5m shares but won’t be selling a single one anytime soon as believe in the prospect and its potential. Enjoying a beer Chelsea way watching the footy so always have to keep the right perspective as might bet CV quarantined any day now!

Sounds like Fatal is hoping for multiple rises from BigBoy!!!

Is it my poor reading between the lines or does Fatal sound like a total saddo?

Blissful might want to check your facts again! Was on my way to the Thing that BPC are presenting at this evening in Covent Garden but too many good pubs in the area to waste time listening to something that will be on line later. Presume the message will be something like we are going to drill, we are very confident of a major discovery, investors at, or anywhere near current price will make shed loads of money. What am I missing in a synopsis you could post in a sentence?

Probably many think all the excess applications going to see potentially many more (ie hundred of millions) shares issued at 2p rather than just the £2m at that price and so selling out thinking they are on a bet to nothing to get in closer to that price. Boy are they in for a surprise.

If it hits 15.29p I will gladly pay his dealing fee so he can spend that profit on a couple of pints and a bag of nuts!

Am in to stupidly excessive amounts but the one thing that nags away at me is the comment I heard from 2-3 years ago that the BG would never let the drill go ahead without a major farm-in. Of course any major would know more than me and my info (good though that is) so that would suggest a disproportionate hand in negotiations so why no farm-in to date. It suggests that the company have to conclude (successfully) farm-in discussions on the best terms possible (but ultimately terms) before we can move forward. Yes the BG will give us more time if we have funding to do but no major backing but ultimately something has to give. GLA.

Bully’ special prize for me is a 15p increase on my shares - beats winning a caravan!

There are very few (professional) dart players that guested on that programme that are still living. Truly the hey day of competitive darts. Hard to believe it but when I grew up, Alun Evans was a sporting idol of mine!

Suspect quite a few PI’s pushed the boat out and subscribed to the OO to do their bit in ensuring the fund raise was as successful as possible. Now it has been, some might offload what they regard as excess shares, believing the fund raise would be successful, at a higher price. Probably a bit of greed and FOMO in respect of their excess holdings, but in many cases existing holdings probably bought over recent months at much lower prices (leaving them in for their OO shares at 2p)!

If the SP is anywhere near 12p then we are going to get extremely pi**ed.

All the Sam Smiths pubs (at least in Central London) ban the use of mobile phones, laptops in their pubs. Have to sneak off to the toilets if you want to send a cheeky email or check the racing results! The Grenadier is indeed a fine pub. I also like the Antelope on Eaton Square and the Star is also a fine pub (Fuller’s from memory but as that is often the final pub when I am out drinking around there memory probably isn’t to be trusted).