Member Info for BigBear2

Should be done by now but v little sentiment at present no doubt due to wonga seller

I’ve been slated by a few on here but my position is quite simple. I believe BOR has an outstanding asset in the best average in the falklands. The question is though will they get a farm in. To do this this a I think the BOD would have to swallow their pride and give away the lions share of the WI as they are totally skint. Is that fair, no it’s not but they are literally out of cash.
The alternative is to get enough cash to pay for say half the drill costs but then retain a higher WI.
IMHO we will see either an equity wipe out to retain higher WI or a Farm out that sees them maintain something like 25 percent for a full carry on a appraisal drill.
Once the financial situation is know BOR then becomes investable again and it will get a good wedge of my cash…

Cuda will be fully aware of any production increase so really not quite sure on the rationale behind not announcing this.
Be glad when this charade plays out as the current price action is an absolute joke.

Financial Position
At June 30, 2020, the Company has a working capital deficiency (including the credit facilities, the convertible debentures and the promissory note) of $59,053,802 and an accumulated deficit of $66,309,794. For the three and six months ended June 30, 2020, the Company reported net losses of $5,387,345 and $4,470,119 respectively and cash flows from operating activities of $387,947 and $1,346,809, respectively.

With the best will in the world this is now becoming a dire PR performance.
At the very least let’s have an upbeat production update.

Can’t see any reason for not drip feeding market news other than can’t be arsed lazy all in one RNS
Art needs to remember whilst this is fine for the likes of Tullow we are a mere Minnow and the market needs regular news to support the sp.
The guy badly needs to up PR

Hopefully it’s the latter. Better to let CUDA crash and burn then get any cheapos on offer.

Patience is now wearing very thin.
With WTI going through the roof why are we not having flow rates drip fed to the market and a production update that crystallises the big uptick in cash we are receiving.
Things may be going well on the ground but the sp is in the toilet.
News ASAP required

How the fek are we still down here with wti closing in on 85?

If they had appraised and flow tested Darwin instead of drilling stebbing they would be in a far stronger position for either a farm in or a finance deal. They did not so no finance and farm in seemingly only option for a drill or a keep the lights on placing…

His performance is quite frankly a disgrace. If he pulls something off from having zilch in the pot will be staggered.
Let’s see if he actually does something as they have done zero apart from drain the cash resources for years…

Jeez
1 BOR only did a exploration well. 2. They need to do an appraisal well as I stated this would be in the region of 50-70 mill.
Don’t know what getting your back up but READ what I said.
I AGREE BOR have the best asset (and acerage) in the Falklands particularly with the price of gas now.
What I am saying is that quite simply BOR are totally skint through mismanagement on a colossal scale.
So how do they do the appraisal?
No point farming in in as if BOR do not show FI govt they can fulfil obligations they will lose the license and someone will get this for nowt…..they have implied as such in last RNS.
So it’s a placing, or a farm out on not the best terms as they don’t have a pot to p9ss in.
So stop banging on about how great the asset is…..that is clear. And focus on the reality of how BOR will fund a drill.

50 mill for drill I meant autocorrect messing with words

Looks like mms are expecting one.
I can’t see any finance deal here as they (foolishly) have not even done a Darwin appraisal yet.
Best that could be hoped for is a farm in on derisory terms that leaves them with a minority interest for a carry on a drill…. but why would anyone do that ?
Still I guess is min 50 mill usd and that’s multiplex of the market cap. Placing to keep lights on and pay little Johnies private school fees is my guess..
We will find out in next few months as something has to give by then

Tiburn I think we all share your frustration Tbh it’s been driv*ng me up the wall.
My main concern was a crash in POO, You would think with Wti at 80 and predicted to go higher it would be a case of feet up and nice daily tick ups as the value of this asset rises daily and production increases.
Where is this new website that was touted a few months back (another easy win)
We need each piece of news drip fed to the market in an Uber positive manner. I have mentioned that internal volumetrics need to be fed to the market in a separate RNS not buried in some broker note. So as soon as they have a number let mr market see it, likewise the flow rates let’s have them out pronto and future drill plans. If the deeps are as good as they are implying on the broker note surely we don’t need a new acquisition …..let’s have an accelerated tef drill plan.

I would go the other way here and suggest it is prudent to raise before the drill. He has alluded to the fact there is a ‘buffalo lookalike’ nearly done which will require some decent coin. Of course we would all hope buffalo to be a success bit of it is not a raise then would be highly dilutive, plus any overhang could be cleared pre buffalo due to excitement of the prize on offer…

Tilburn I think you are the man for the job!

Can’t wait for that RNS as per the broker note we are expecting deeps to have more oil than our current p2 numbers plus we own it 100 percent. Wake up numb nut mms…

As a Us producer with known rising production we should at least be tracking Wti….something stinks here.

Combination of IIs and penny traders have finally squeezed the volume out of this stock that is now so out of touch with its value Investors are now thinking why buy when it just gets spanked down again….