Member Info for BigBear2

With no news due and fat car directors milking this expect a placing around 0.5 very soon.

Have a look at old RNS to see how the directors have shamelessly paid industry standard salaries for doing NOWT over the years...

Just watching this play out. I am happy with the story Potter is selling for incremental production increases and profit reinvested. But anyone that thinks there will not be an equity component for the funding gap that exists is severely deluded. Lenders will want BPC to have some skin in the game. one of my other major holdings is COPL who agreed a 65 mill debt package, but still were required to raise some 13 mill of equity to strengthen the balance sheet. Expect something similar here....only then will the re rate begin.
Potter needs to stop arsing around with theoretical funding and just get it done. Soon as that happens I will double my holding.

We need the Nigerian govt to confirm,extension of licence ASAP

These lot have milked the company dry over the years and imho a 25 percent cut is a joke. Should be shares in lieu of fees till farm in secured.

Looks on the cards again shortly....

The Company's strategy remains to seek a farm-in partner for PEL0094. In parallel with the farm-out process, given the Company's reducing cash resources and the continued delays regarding its Italian licence applications, the Board has also decided to explore all strategic alternatives, in order to maximize shareholder value.

So they have 700k unrestricted cash 15 mill or so debt and require 10 mill ASAP to fund 2 wells to increase production. Absolutely staggered the MMs have not put the boot in here but I guess they are waiting on an equity raise

I’d love this to be the case but does this not discount it from being us as there is no previous contract?

For the jack-up rig "Natt" Borr Drilling has received a letter of intent with an undisclosed new operator in Nigeria to start operations in April 2021 for an estimated duration of 150 days, in direct continuation of its previous contract.”

MMs getting primed to open us up seems they have missed a 1 off the price though

Considering we had a farm in sorted and discussions were underway to conclude debt finance why on earth is it taking till summer to get this sorted?

V poor from Asher who gave the impression this was almost over the line. With POO around 60 and likely to rise post COVID what on earth is taking so long for what must be a relatively modest sum.

Has this spudded yet?

O/T but relevant. RMP have just announced their RTO on the ASX. Considering they are some way behind us eg the t/o has not completed as yet be interesting to see to see how long it takes them to sort things out.

Volume Is often less than I hold, plus the increments are plain silly.

Ideally free carry on existing licence as per current agreement and new licence and we pay out share with cash in kitty

Yup was just hypothesising . I think we can all agree if/when the planes start moving freely POO will move up sharpish...

Just glad that Art is focussing on Atomic. anything from Nigeria or Mozambique for that matter is now a ‘Brucy bonus’

Brent crude to hit $80 a barrel.....

https://www.ft.com/content/f4e155b5-ac1a-43cb-921a-e4128917b491
Late last week analysts at Goldman Sachs said they saw the price decline as a “buying opportunity”, maintaining their forecasts for Brent crude to hit $80 a barrel within the next few months.

WTI around $75 then let’s see how they price us if that plays out.....

Small amount but shows confidence

We did not get a more detailed technical analysis

I would expect a placing to shore up the balance sheet. Sooner the better then the company can move on.
Yes I know there are CLNs @ 0.8 but doubt these will be exercised until after a placing and Trinidad kicks off.