Member Info for Bespoke

Probably using a guaranteed stop (50% ) on a cfd or spread bet ?

BPC exercised the put
Lombard have the option to exercise the call before the dates agreed

They are yet to exercise the call. I suspect that they will offload the first tranche completely before they take the call option. They have the benefit of time on their side so cant see them handing over the extra money until they are required to

> 2.125

Is that accurate enough?

Uncrossing or not.. Trade price is 2.20p. Was also another 5m bought at the same price. Could have bought in chunks of 1-2m at a lower price throughout the day. Someone keen to get in ?

So yes, Make of that what you will :)

12.25m + 5m buys at 2.20!!!

Retail money taking a punt orrrr???

Make of that what you will!!!!!!!!!

Ties in*

Trading volume increased dramatically tries in with the IM crew change

All coincidental I am sure :)

I'll take that R:R!!

BPC also raised the stakes by exercising the put option.. I don't think they would be bluffing at this stage!! They have an edge - Knowing what the drill had presented to date!

Some 9 figure volume days could see the HF rid of the initial allocation by the end of the week, at that point I would expect them to exercise their call option and relax the selling into results

GL all!

'It's mountains out of molehills' - Simon Potter

https://ewnews.com/pm-govt-to-accelerate-implementation-of-sovereign-wealth-fund

"These funds will enshrine accountable and transparent means for Bahamians to ensure that our national assets are deployed and developed for the benefit of the entire country.”

Really does sound like he is laying the foundations for an oil strike announcement! Get the people onside to avoid the backlash ?

It's all very interesting. Some 4D chess going on here with this and the put option!!!

Bodes very well moving forward in the event of a successful drill. I do find it a little strange front running any announcement of an oil find. A little premature perhaps?

The shares are almost trading at 2p, opportunity is there for anyone who wishes to buy on the open market

I look at it this way

It was either a hugely discounted placing without the guarantee - 1.6-1.8p - (given the legal threat)
Or a 2p placing with the guarantee (the guarantee was the risk premium attached to the legal situation)

Now if the board are confident on a strike then the guarantee becomes irrelevant (Put & call) as the shares will trade way above 2.3p thus less net dilution than the discounted placing option!

I am betting on my own assumption that the BOD are privy to info from the drill that we do not know about and are comfortable taking further funding also with the guarantee in place. Make of that what you will!

Any info on what might be below the base aptian at 4800m? First time I have actually seen reference to it so its got me curious!!

The 12-18month budget is available via Drawdown on the CLN. Not cash sitting in the bank!

Last cash balance we were given was the October 31st Balance of 17.5m$

How much has been spent since then? T&T workovers? Legal fees? Over heads etc.
We raised 10m from the HF
4m CLN

Run the numbers! Money wouldn't have just been sitting in the bank doing nothing!

17.5m as of 31st October - Spends since then? Legal fees?
10m Hedge Fund
4m CLN

I do not believe they would have enough to complete the well and carry out the evaluation work

Sharescare - You are assuming that there is enough money in the bank to cover the ongoing work/evaluation?