Member Info for BigBear2

Plenty of buying this morning and why not at 20p this is a steal

Have essentially been warned.
85-100 percent of 1.5-1.9 billion barrels inbound with 50% (enhanced) recovery.
Expect them to go into overdrive….

To me will be massive
To date mr market has priced the discovery at nil
Ryder Scott come and say we have 85-100 percent of 1.5 bill barrels (art hinted may be more) and this has to re-rate.
Spivs look in a hurry to churn there stock so by mid-end of may expect all the doomongers to be fully loaded up here

Huge trade

11:01:59 19.85 4,765,000 945.85k

Great way to lose cash….Never understand selling at the bottom.
Add at these levels if you can and trade some when the inevitable rise comes to recoup funds IMHO.

1. Sp gets back to decent levels
2. BS Placing mates snout in the trough again
3. PIs want to Jump off cliff
4. Sp dips below placing and mates load up even more
5. Miraculously positive news flow arrives and mates make a tidy profit
6. COPL is funded mates have had their fill and eventually find a new trick

I am like most gutted at yesterday’s placing, particularly at the price but I guess when you allowed the finances to dip below the permitted level you essentially have your balks in a vice.
The main thing I believe is that we have CUDA.
This gives us unhedged production to double our cash flow plus we have that 90 Percent WI on the deep. If that flows. As expected this placing will be a distant memory.
Let’s get this pipeline built asap and have our current production up to the levels promised.

I have to say I am in Copl and have just experienced something very similar.
Namely great assets but a CEO who repeatedly lets his ‘ii mates’ have their snout in the trough at ridiculous discounts.
It’s just plain poor if the assets are so good why can they not do a premium placing?

Hopefully now Art has CUDA in the bag the upgrade to resolve the high pressure caused by the MF can be sorted ASAP.
Simply seeing production up with a large chunk unhedged will make this seem a blip on the road to something much bigger.

The ‘problem’ is art is a man with the bigger picture in mind (we have CUDA for a song and I think we all can agree that is good.)
The beef is that in the process of rapidly building the company little attention is paid to maintaining value for current equity.

I very much suspect this will be exactly the same pattern as the last raise. churn for a while, then we will get a CPR upgrade and move back closer to 40 again. We then have the equipment upgrade as well so, art can turn on the taps with the MF program.

The main trigger here to me will be the 1st horizontal with 90 percent WI, sold at WTI spot.
4 of those over the summer and we could be looking at anything between 6,000 and 12,000 bopd with a 90 percent WI.

Keep rolling in

Shows great demand

So after the usual kick in the nuts where are we at?

RBL to be done on better terms with higher level of booked reserves
Unhedged production on the newly acquired WI
Cash in bank for deeps wells

Should be a case of 1 step back 3 steps forward

GL all.

The exposure to Wti at spot prices is massive.
Watch our ‘problems’ suddenly get fixed now in a hurry.

Well we finally have CUDA.
2 very important things
1 unhedged production
2 uncreated WI on the deeps

Of course I am disappointed at the equity component but it really is a case of switch off and leave till the summer now

Also worth noting the NPV increase

Hope art does release news over the bh so numpties locked out

Own up who just did it

I agree we should have our sp underpinned but as ever if we dust the MMs will not hesitate to fully put the boot in.
It’s best to accept the risks as well as the upside.
Fantastic chance of multi bag here but likewise a nuts drop.

IMHO as soon s CUDA and Finance done and we sink 3 horizontals the price will be multiples of what it is now.
At that point majors will see the flow on horizontals (3 per mile) and do the math quickly and see the crazy potential here.
£1 post successful flow tests , £3+ once majors have a bunfight to take us out.

Skegs plain and simple the sp drop is simply de-risking.
You know the drill we strike it’s min 300 percent IMHO. Dust and 75% drop.
I have an amount left in I am comfortable with so now just awaiting the results.