Member Info for bbrinkw

I sold up for a chunky profit. I don't like companies who raise money when they are not making money. That's a possibility here, in my opinion.
As JoeKenny says, RBG is now more of a gamble.

Highlights from todays news update aka Aditya Kalra and Aditi Shah :-
Cairn Energy has filed a case in a U.S. district court to enforce a $1.2 billion
arbitration award damages of more than $1.2 billion plus interest and costs.
Cairn asked the U.S. court to recognise and confirm the award, including payments
due since 2014 and interest compounded semi-annually.

Cairn aims to enforce the award under international arbitration rules, commonly
called the New York Convention, and recover losses caused by India's "unfair and inequitable
treatment of their investments", the court filing showed.

The company has registered its claim against India in the
Netherlands and France, telling regulators in the two countries
that they may receive court orders to seize of some Indian
assets, and the firm was preparing to do the same in Canada and
United States, Reuters reported last month.

Reuters reported last month that Cairn was identifying
India's overseas assets, including bank accounts and even Air
India planes or Indian ships, that could be seized in the
absence of a settlement.

Bridget Lea became non exec in September 2019. In June 2020 she bought 25k shares @ 62p. She's bought another lot at same price 10 months later. If she sold the lot today that's 15k profit.

The key fundamental is that CNE will get more than their current market worth via the Indian government.
The tribunal ruling was "legal and binding".
Just look at past history of similar situations.
Bingo

Mr Potter talking as if he is more than +30% confident of declaring oil.

Relevant EKF Shareholders will become the beneficial owners of their respective Dividend Shares upon completion of the transfer of the Dividend Shares to Broadway Nominees Limited ('Broadway'), at which time an 'omnibus' share certificate in respect of the Dividend Shares will be issued and held by Broadway, to be held on trust by it on behalf of the Relevant EKF Shareholders for a period of:

365 days following admission to trading on AIM (or another recognised stock exchange) of the issued share capital of Trellus; or
if the issued share capital of Trellus is not admitted to trading on AIM (or another recognised stock exchange) within two years of the date that the Dividend is settled, two years from the date that the Dividend is settled (the 'Lock-up Period').
During the Lock-up Period, Relevant EKF Shareholders will not be permitted to transfer the legal or beneficial ownership of their Dividend Shares.

Yep. U can trade your EKF but ask AJ Bell where are your Trellus shares.

If you have a Dealing account I would have thought they would be in there.
If no dealing account then Bell do not have any where to put them.

Potter on at 7:30pm tonight

India's budget is expected on Monday, 01 Feb 2021.

Surely, N. Sitharaman (Finance Minister) has to mention what the country's intention is regarding a +$1.2bn payment to CNE?

Tulip Oil press release 03.12.20
L Koot is the new Executive Chairman
BPC RNS 25.01.21
L Koot resigns as a director.

L koot has/had a lot of shareholder support with CERP and gave them an opportunity to come aboard BPC.
I do not think the RNS goes far enough.

However, last June Mr Koot explained why CERP hooked up with BPC....
" Great seismic, show multiple structures 90km long. It feelsand looks like Saffron before we struck oil. It's massive.
Saffron was 11mm and BPC is at least 700mm.

Investing is really a gamble (on the stock market). Always has been.
There is no tax to pay (unless you cash in your "bet" and make a profit).
You can make £12,300 before you start to pay tax .
"Gamble" in an ISA and there is no tax to pay.

Share price calculated to remain the same after consolidation.
So , after consolidation, same sp but less shares.
Say 1000 shares consolidated to 850 shares.
Same sp but hold 150 shares less( but compensated by the special dividend).
Your share holding after consolidation is not as much in sterling but you have a dividend to compensate for this.
So you do not win either way - if the sp stays the same.
Unfortunately, the sp usually drops. So you start scratching your head. Is this smoke and mirrors and you ask: why is it important to keep the sp the same?

Just a reminder of Aim's busiest oil explorer's schedule for 2021 (by Jamie Ashcroft) :-

Pivotal, high-impact results will emerge in the first quarter for Perseverance exploration and can be a major share price catalyst.

Elsewhere, BPC has added a 17-well campaign aimed at boosting production in Trinidad and Suriname.

Unlike Perseverance – a comparatively expensive and high-risk / high-reward venture – these wells will be cheaper and are intended to deliver fairly rapid development and production.

The plan is to ramp-up some US$35mln of annual revenues by the end of 2021. The target is to establish production at a rate of 2,500 bopd, up from around 500 bopd at present.

Drilling is slated to start in February in both Trinidad, at the Saffron field, and in Suriname, at the Weg Naar Zee block.

32p per share returned from $250 m gain.
India owes $1.2 bn plus interest plus costs.
Say $1.25 bn total

1250 m/250m is x5
32p x5 is 160p

Share consolidation adjustment. (not as many shares as when 32p divi)
160 x13/11 is 189p

So when CNE have the money they can give a 180p special dividend or a reduction and buy a distressed company going cheap.

RNS is an advisory note about CNE but CNE from TSX index; that is, Canacol Energy.
Just a **** up by the investment research company Edison Group.

The core rationale for the merger with Columbus was the intention that the suite of assets introduced in Trinidad and Tobago and Suriname could, with appropriate work, become material cash-flow generating assets within a 12-18 month horizon.

BPC has established an operating target of achieving 2,500 bopd by the end of 2021, and a corresponding financial target of a revenue run-rate by the end of 2021 of >$35 million per annum. Successful drilling of appraisal and production wells (and thus expenditure of capital) is critical to the ability to achieve these targets.

And finally, in Potter's words last December; "Going forward, BPC is an exploration and production business, intent on generating reliable, growing production cash flows capable of supporting exploration activities, and which together will create significant value for all stakeholders.”

Small holders getting involved for a few days, now. Want to see a bit of fun.

The big holders looking for a quick profit as they now the share will go up.
Say looking for 10% profit. 10% and 5% dealing costs is 15%.
115% of 2.15 is 2.47p
So keep your eye on the sp.

G Brown. Xrist almighty.
He single handedly stole form the ordinary working man and they didn't feel a thing until they retired.
We wear masks to go shopping but he was the first to do so. Shopping for fiscal gain.
And remember when he increased the pension by 10p per week. 10p per week.
And his cohort.... unashamed butcher.
In my humble opinion.

Nope. You missed the 32p due to be paid 25 January.
CNE sp today is for the new consolidation.
11 for 13. So a reduction of 15.384%
That is, if you held 130 shares last week, you now have 110 new shares.

Last week, holding was 206p x 130 = £267.80
Today, 200p x 130 = £260 if buy now.
If held from last week holding value is, 200p x 110 =£220 + £41.06divi = £261.06

So 32p is smoke and mirrors. Someone benefits but it isn't the shareholder.

21/31 is the new Nominal value of the share. It has nothing to do with calculations. Share certificates (If you held them instead of a nominee account) would say : ordinary shares of 21/31 pence. Thus distinguishing them from the now worthless "old" share certificates.