Member Info for BigSi

Lallee- yeah it’s been a long haul but seeing the drill bit spin is a result even if it doesn’t quite enable the same possibilities as years back when Potter implied drills and farm outs were “imminent”
Fingers crossed for you bud

The spread is very narrow - sells reported as buys -
Lombard are clearly selling by the million as evidenced
In today’s TR1

Lallee- as my posts invariably just contain a recapitulation or clarification of BPCs own statements- fundraising/ COS etc I don’t see how that can be construed as overly negative -if you thinks BPCs own clarification as to its situation is TOO NEGATIVE then logically you probably shouldn’t be invested no?
I’m not posting information based on rumours and here-say. Big boys or not I’d rather not be even remotely responsible for someone over investing and facing the consequences when the things don’t potentially work out as suggested.

your a decent sort - certainly no BB moron - keep it real ;)

Have you ever constructed a post based on an intelligent appraisal of BPCs facts and fundamentals or do you just attack any views contrary to your own? With what can only be described as playground insults.

I come on BBs to put forward my opinions and to seek out honest cogent perspectives that differ from my own as even if I disagree It can often assist me to make informed decisions. even if I do strongly disagree with a statement I will post why without feeling the need to become emotional and make a personal attack against the individual.
Can you make such a claim??

Too many emotionally attached individuals, heavily invested with everything riding on the result -
They’re definitely the ones to trust

FWIW - I sincerely hope BPC find those 700mbls of commercially viable oil -

I have also followed this share for 10years as you know.
I’m sure you won’t deny I know it, it’s fundamentals, it’s BODs methods and how to determine likely eventualities as well as anyone.
Thankfully I can sit this result out, retain past gains and await future volatility/news to trade whether it’s a commercial success or failure -
If however you wish to make statements that encourage others less well informed to invest or even over invest then I sincerely hope you are very sure of yourself as I’m sure you wouldn’t like to think yourself responsible for potentially life changing loss of capital if your shown to have posted recommendations that subsequently where shown to be incorrect.

Too many emotionally attached individuals over invested for far too long.. with too much riding on this result.
Trust them ?? Up to you

Greetings
My problem with that statement it “He is invested”

I don’t doubt your integrity my friend just your judgement.

Tullow - HUR more recent examples of “fluids” GEOLOGICAL finds which proved worthless

The point I’m making which anyone familiar with this kind of drill will back up is that at this point the BOD can not know for certain if they have a COMMERCIAL discovery-
lest we forget the example of Desire petroleum ... DYOR

The BOD at this point are highly unlikely to know what they have found - the best technical information WDI available would be that they have encountered “fluids” ... just as easily water rather than the black stuff.

BPC need a commercial find (10-12% CCOS) as opposed to finding “something” but it failing to be commercial (GCOS 30%+)
So do the maths ...
At 2.0p (likely going nowhere but down due to selling) you have a 10% chance to make perhaps 2-300% and a 90% chance of loosing 60-75% approx of current value. It is what it is

Is it really a gamble for BOD? Their futures and salaries are now assured with CERP assets to fall back on. Albeit future fundraising would be even harder and on even poorer terms.

THE GAMBLE or burden of RISK is being shouldered by any existing holders as they would see the value of the equity holdings decimated on drill failure and now potential profits on success severely curtailed due to ongoing dilution

Lombard are clearly already selling in volume and if continue at the same rate will be OUT by TD -
so BPC will have to make the “reconciliation” whether they are successful with drill or not

A large number of shares were cleared by Lombard at prices greater than 2.3p - however I suspect the aggregate now is very close to or below 2.3p given the reduction in today’s TR1

They have tapped up shareholders recently with an open offer - (check historic RNS) where they to do this again it would not have raised anything like near enough the funds required - hence previously and currently relying on funding with such generous risk free terms to lenders -
Securing as much cash as possible prior to possible PV1 failure - BOD are “prudently” securing the companies and thus their own futures at the expense of existing holders - DILUTION

Risk free

As part of the terms of the Funding Agreement, on the earlier of (i) 60 days after the date of spudding of BPC's Perseverance #1 well; (ii) 31 December 2021; or (iii) such other date where a reconciliation is permitted under the Funding Agreement, BPC may be required to make a cash payment to the Investor to the extent that the Investor's aggregate return from those new ordinary shares has been less than 115% of the subscription price

Yes - it’s guaranteed 115% of 2p
If Lombard sell at aggregate price below 2.3p BPC have to make a “reconciliation” payment

15% guaranteed profit - 100% risk free due to guarantees provided is an excellent ROI in current financial markets.
Lucky Lombard