Member Info for bonum

The 'pond life' posting last night had some valid concerns, imo........just as Jiving has some interesting points himself.

It's pointless getting partisan in investing, to the point of filtering out any contrary viewpoint / perspective that doesn't sit conveniently with a given position in a company.

The situation certainly isn't clear cut enough, to have that luxury here.

I'm open to what everyone has to say - investment specific if course.

Atb all

Lol!

Listening to the respective arguments here, there's merit in the various scenarios given and it could go either way - we'll see how this plays out.

I find it difficult to put too much 'faith' in what Millholland says though, given his track record of 'misleading' comments and even his great bluster during his recent interviews.......just prior to announcing the last Placing.

We know he's cynical about shareholder interests, given his stubborness in addressing the very important issue of overheads - thats just reckless for someone in his position and obviously exacerbates the level of dilutions impacting shareholders.

High Risk / High Reward, so let's see what transpires.

Atb all & let's be thankful (today) for the other things in our life beyond the Markets.

It's great to discuss and speculate on the financials going forward etc and can give further insight into the investment etc. However, of note also is the previously mentioned large Buying by the Financial Director, who one would assume has the best insight into the financial strength & prospects of the Company going forward.

Looking strong & confident.

Atb all

Nice stable price range and solid platform for further growth after the previous re-rate. The Finance Directors buys around the current price speaks volumes.

Lets await the next breakout, which wont be long coming imo.

Art can certainly 'engage'......but is he completely honest in his engagements??

Atb

......let's hope you wont be jumping from that balcony!! ;)

I think unless we have a major, consistent holder offloading, we can all reasonably expect a significant price appreciation through various stages of the drilling process......and beyond just the actual results.

We're significantly up on a few weeks ago, so need to take that into perspective. I think where opinions may vary more, is the extent of such price appreciations going forward.

I know my strategy, which is as stated in my previous post, hence somewhat detached from emotional attachment to price movements in the interim.

Lets see how Petromatad plays out for us.

Atb all

That's my strategy now - just wait for the drill results on my complete holding and not any form of advice to anyone else.

I'm good with it due primarily to the Appraisal prospects , so lets see how our various drills play out.

Atb all.

Why change something thats worked well - Interactive Investor did that and destroyed their discussion forum!

Maybe they're skeptical for another Placing, in line with the company's consistent policy towards growth through cash calls...?

Well done UJO holders who have made money here and the above is speculation only, based on the Company's previous strategy.....but maybe why many are somewhat cautious with profits atm.

Arb all

YES!!

The company refered to ie UJO, has a long history of Placings to facillitate a growth strategy, hence when I was invested there a while back, the rhetoric was the same - fully funded for current Ops etc.

Then they had Placing.....after placing.....after placing....after placing etc - and guess what happened to shareholder value, whilst the Management secured their own futures through said 'growth'! Todays news there mitigates the losses of many shareholders but wont necessarily cover them.

That's why it's useful to know the background to various investments before comparisons are made.

BPC has had inummerable delays and its own fair share of placings to cover overheads and generous renumerations amidst that. However, the critical catalyst we're all waiting for is the Farm in agreement. We have a precedent with this share in the way its moved before AND held its price gains with the recent exclusivity period etc.

Further, once / if a deal is agreed, we can then move into the obvious further operational stages, triggering price appreciations - with a vastly bigger 'potential' egg at the end of it.

UJO has done well, but shareholders who have been around the company, know another Placings on its way and any talk of potential buy outs etc is all hype atm.

Again, good to know the background of investments and given the factors mentioned / precedents set, I'd certainly expect magnitude greater returns with BPC from current levels CONTINGENT on the deal being agreed.

Irrespective, as we move into the period specified by the company, a natural price progression should be seen anyway.

Imho etc

The

I have to agree with you Cash2 and am pretty much viewing it in the same way - that's not to say I'm recommending that approach to anyone else but am artìculating my own strategy going forward.

We have excellent prospects here and a very good chance of striking oil and the fact that the multiple drills are so close together, hence providing a degree of price bouyancy on any singular drill not delivering.

Accepting the usual caveats of course with oilers generally, MATD is pretty uniquely positioned and a 'fresh eyes' approach is probably more useful than any past issues - especially with a new, more competent Management team at the helm & better Seismics to go by.

Obviously, due to the previous drop, we're experiencing some profit taking from the lower entry positions, albeit the transience is relatively minor when seen from the new trading range thats established (from several weeks ago).

That'll give us a more solid platform for further price appreciation, as we look towards the next breakout and trading range to be established - well watched so like last time, it'll be a rapid & sudden breakout.

Atb

An Ostrich egg is a lot bigger than a sparrows egg, lol

Obviously we need that egg layed first, but UJO will b miniscule in comparison, contingent on the Fàrm in agreed and operationsl advancement from that.

CLARITY has been provided - multiple drilling operations imminant - excellent COS - all Fully Funded.

Should be good times ahead and good to be holding now.

Newsflow in ABUNDANCE!

"The Company expects to spud Heron 1 in early July.

The well will be drilled to a planned TD of 3,050 metres and will take approximately 40 days to drill and log. The Heron Prospect is the southerly extension of the proven oil-bearing structure drilled by the T19-46-3 discovery well in adjacent Block XIX. The latest mapping based on reprocessed 2D and newly accessed 3D seismic shows the majority of the structure, including the crest of the trap, lying in Block XX. The Heron Prospect is estimated to have mean recoverable prospective resource potential of 25 MMbo. Heron 1 will be located 1.1 km south of the T19-46-3 oil well and is prognosed to encounter the top of the primary reservoir targets at approximately 2,800 metres.

On completion of operations at Heron 1, the rig will immediately move to the Gazelle 1 location.

The planned TD of Gazelle 1 is 2,500 metres and the well is expected to take approximately 35 days to drill and log. The Gazelle Prospect is located on the south-western flank of the Tamsag Basin, which is the primary source kitchen charging the Block XIX discoveries. The Gazelle 1 well will be drilled 5 km west of Heron 1 and 4.5 km southwest of the T19-46-1 oil well in Block XIX. The mean prospective recoverable resource assessment for the Gazelle Prospect is 13 MMbo.

The Red Deer 1 well will be drilled with the Daton rig and is expected to spud later in July and is forecast to take 35 days to drill and log. The planned TD of the well is 2,100 metres. The Red Deer 1 well will target a basin centre, fault bounded, structural closure in the southern part of Block XX. The mean prospective recoverable resource assessment for the Red Deer Prospect is 48 MMbo. On completion of drilling and depending on the success of the well, the Company will then take the decision to whether to drill a further well at Red Deer, move the rig to drill a well in Block V, or focus on activities in the north of Block XX.

Running two rigs, with a separate workover rig for any testing operations, should give the Company sufficient time to complete its 2019 drilling campaign before the winter operational shutdown in late Q4 2019."

Good points - 20p, 50p, £1, £2.....£5........it'll be a significant price appreciation from tidays level, hence the materially relevant factor for many looking at this atm.

Very exciting times about to hit.

Atb all

He was also 'misled' in the past Sub-Mariner and by his own admission, Art is notorious for doing that to shareholders - I'm intrigued as to why he feels so differently now.

Let's bear in mind that unless it's 'Insider info', CDNoilsupporter is at perfect liberty to discuss it, unless he's being deliberately beligerant, enamoured by Art or plainly misleading us himself - if it is 'Insider info' of course, it would be highly illegal & reckless of Millholland and something I doubt is the case.

Oilberta's posts have the measure on Art Millholland I believe, hence if there really was sometning of material subsyance said, I believe the interests of the wider COPL shareholders would certainly overide the perceived selfishness of one persons 'special relationship' with Art - hence his 'support' for such on this BB is very strange given the predicament & near term cash requirements the company are in.

Sub Mariner, I really do appreciate the difficulty longer term shareholders have with the current situation and am actually trying to be supportive in my posting, irrespective of how its perceived.

Atb