Member Info for Bespoke

Joe.. BigMj is a UHNV investor. Do a little research, He is well known around AIM. He would have taken part in the actual placement. Not the PB offer!

https://excaliburhealth.co.uk/news/results-from-arcadia-phase-ii-clinical-trial-of-a-potential-therapy-for-covid-19/

10th at the latest !

News will be released when it’s ready

In the grand scheme of things, day of week doesn’t matter. The following trading session will reflect on what is released

Book looks good today. Certainly an appetite for the shares. Let’s hope it’s the news we are all hoping for. GL all

Zag - How much of an overhang do you think there is and at what price were those shares acquired?

MacRs - you are way off in your assumptions !!!

Cookie - Are you suggesting that II's will pay a premium to take part in the placing?

The 0.35 was never underwritten. Any placing will be at a discount to the SP at the time.

The funding options were pulled due to the legal case

The LO was literally the only option that allowed them to drill as deep as they did

All well and good saying it was a poor deal. It was. But it was the only option. They rolled the dice and I’m sure we would have alll done the same in the circumstances given the time and money already committed

Star. Why is the first tranche from the CLN getting converted at 0.35 and not 0.8?

Please explain

Star

“It is encouraging Bizzell has the confidence to lend 2 million quid at DOUBLE the current SP, despite the dilution on the way. What rational funding organization would do so, unless they believed the SP will be more than 0.8p/8p in future?“

Do you realise how ridiculous this sounds ? They can buy on the open market for 0.4. BPC are absolutely desperate for cash. They need it to keep the lights on and you are saying that an institution will lend them money at double the current SP (not factoring in the dilution) lol… seriously ?

Tell me, why is the first part of the CLN getting converted at 0.35 instead of 0.8 as per initial terms ?

Willec - They do not

They have 10m cash available

There is a $14m liability for P1 and also $4m owed to LO

I'm sure you can run the numbers on that!

Who takes the other side of the trade then Bully?

Bully: Where do you think they could short this at any given size? There would be no counterparty to the trade!

Star: Are yuou sure about this part? "Note a key point, …. ’ Any shares not taken up will be sold to institutional investors at the SAME [0.35p] price…..’ . "

As in it is underwritten at 0.35p?

The RNS states " with the Company intending for any shares not taken up in the Open Offer to be placed with institutional investors at the same price "

Key word - "Intending" SP & Co have intended to do a lot of things..

That would have worked if the share price was 0.5 but I cant see II's filling the gap without a substantial discount to the sp which currently stands at 0.375

Absolutely awful RNS

No way shareholders will back this plan. Not really sure if / how the company can move forward from here

Bully.. what is the threshold for issuing a notification of a short position ?

BPC Saffron 2 drilling to commence on 17 May 2021 - to find out more about our operations click here: bpcplc.com/operations/tri… #Trinidad #oilandgas

https://twitter.com/bpcplc/status/1380119145761673223?s=21

CERP - at what price would you expect them to be able to pull a placing off ?

It depends on the use of funds. If they need to raise cash to cover LO in April then we have a problem

Not the best/most enthuiastic interview in regards the Bahamas. He didnt seem so excited by the WPS that was found! The next few weeks are critcal IMO. A placing at these levels will not be pretty and would be setting the company up for consolidation