Member Info for bonum

Lol - this is bad news?

A potential billion barrel oil asset secured with minimum obligations going forward and a defined route to development off existent technical resources.

You're kidding right - or just caught not holding!!
;)

It's probably part of the Family group holding, which is fortuitous for us as it's being relinquished into a buoyant share price - once its completed, whatever that amount is, whether a part if or total amount secured - the brakes will be off the price and the new Highs realized.

This is tremendous News and fortuitous for ordinary Shareholders looking to secure stock at these levels, thanks to the 'relative's suppression on the share price, courtesy of said Family Group.

We should be at 5p+ in due course, imo.

As stated last night, we certainly needed the Consolidation and before the next push Upwards as part of the underlying Uptrend.

PetroMatad is placed very well indeed for multiple appreciation of its share price with well defined catalysts expected in due course.

Atb

Think I'll get a bit more MATD whilst I'm at it too - both my massive upside stocks.

Had to pay 3.195p - no probs as this could have a Multi billion dollar market cap one day!

Good luck with everyone else trying to Buy in today.

Atb & have a good day all

$200k dollars and minimum obligations - hardly something to raise capital for!

Lots are getting caught out & will no doubt be looking to rush back in.

I'm adding first thing regardless.

Good luck all!

Read the details - they're focused & confident of Perseverance 1, with a view to fully develop that asset upon hitting oil & with a Farm in partner(s) on board.

With the Farm in partners essentially 'taking over' full field development, they'll the focus on the new asset - for which they have minimum obligations in the meantime.

It's a Brilliant move by the Management team and with a strategy to take BPC towards being a bo a fide Oil Major themselves.

Very, very good indeed - read the RNS!

Excellent RNS - massively expands BPCs options going forward & emphasises the Farm in route that the company are focused on going forward.

"The OFF-1 licence provides for an initial four-year exploration period, during which time BPC will reprocess approximately 2,000 kilometres of legacy 2D seismic and undertake a number of new geotechnical studies.

The Company expects that the cost of the work program in the initial period will consist of approx. US$200,000 per annum in historic seismic data acquisition and reprocessing, G&G studies and other technical work to be largely supported by the Company's EXISTING technical staff base currently supporting operations in The Bahamas.

Apart from the costs of completion of the minimum work program there are NO annual licence fee payments, and NO drilling is required in the initial four-year period, with extension into a second exploration period entirely at BPC's election. Key terms of the licence agreement are summarized further in Table 1 below."

BPC laying the groundwork to be a Multi billion dollar market cap company going forward.....with a current SP of around 3p to BUY!!

Good to be already holding, to avoid the scramble for shares this morning.

Atb all & have a lovely, relaxed day )

Apart from when it broke 26p.....and the 6-7p earlier this year ;)

I put some into Ftse stocks from other little holdings I had doing absolutely nothing. However, I refer back to the reasonable expectations for the upside here - pre-drill results.

We can take the 9-12p figure mentioned previously, or indeed take a much more conservative figure on the downside.....and completely disregard any move on the upside from that estimate if you like.

We'd still be looking at a good multiple of the current SP and significantly beyond what any of us would reasonably expect as an upside on the major Ftse stocks.

Accepting the relative risk profiles attached but given the standing of BPC atm and the co formation of Rig contract recently, I'm comfortable enough with that.

I'll be investing in the bigger main market listed companies from profits gained through the capital appreciation I reasonably and confidently expect here.

That's my perspective on how I sit with the investment atm.

Have a good night all

Good - be happy ;)

Atb

Good to get the slight dip / consolidation.

We were expecting it and cognizant of the fact that no share goes up in a straight line. Indeed, the dip provides a opportunity for newer Buyers to enter & existent holders to increase levels (if required) - thus establishing a stronger platform for further growth.

Welcomed outcome and onwards eventually to the next price level, as part of the underlying Uptrend.

Atb & have a good evening all

Equates to 9p-12p.

Worth the hold!

Have a good evening all

Stena has further options regarding operations Noviceinv. Apart from that, as only6greens has pointed out, the strengthening oil price off recent events, has boosted sentiment in oil companies generally.

Atb

BUY, HOLD or SELL ;)

Lol, clever one Phoebus.

On a more stock specific point, I seem to note a dip earlier in the day, in the last few trading sessions and a recovery later.

It may not replicate that today of course, but most of us will be more interested in the price levels nearer rig mobilisation etc.

Let's see

Shouldn't have much effect on the share price, if any.

If anything, this is looking to get ready to go, seeing the relative stability we're seeing at these levels, imo

I know you're a secret fan of MATD Bryn! ;)

I posted this on the MATD board (as part of a larger post), but is just as pertinent for BPC -

'Yes, Oil prices almost doubled from the lows of a few months back and Saudi moves over the weekend, are further bolstering the price.

Major market indices also making back some of their losses from the last few months and looking overall bullish.'

As someone mentioned, the '2.5p levels are well gone', with some confidence in that statement, given the above and the very strong Bounce indeed that we saw off the pre 4th June dip.

It does seem like a very 'controlled' approach being applied to Family shares and of note, that the significantly larger new share issue off the 2p placing (at the Open Offer time), still saw the price progress to the circa 5-6p levels (wasn't Oil Man Jim also no railing against BPC at that time too??).

We've seen good, well needed consolidation at this price level, with strong buying on any slight dip, hence perhaps can look to the next price move up in this heavily 'watched' stock, sooner rather than later.

IK's prediction of 5p in the next few weeks.....?? I certainly wouldn't put it past BPC, as we saw only a few months ago in the way it moved - we are also now more advanced with the important Rig contract with Stena.

Atb & have a good day all

Yes, Oil prices almost doubled from the lows of a few months back and Saudi moves over the weekend, are further bolstering the price.

Major market indices also making back some of their losses from the last few months and looking overall bullish.

From a fundamental perspective, MATAD very well placed with the current assets and plans to monetise going forward, with a strong commitment by the Mongolian Govt to help facilitate that - as Mike Buck (CEO) stated, he's 'very, very confident...'

Strong words from a CEO whose by nature, very measured & understated in his communications.

I think we're seeing an overall re-rate in the share price here, as part of an underlying Uptrend, to eventually trade in a higher price range until further Newsflow on the EL, Partnership etc in due course.

As has been oft mentioned, the relative scarcity of free shares gives great confidence in the magnitude of upward price trajectory, as the larger picture plays out.

Maybe worth doing some research on Petrovis, PetroMatad's largest shareholder and the commitment of the Mongolian Govt. for an independent domestic oil supply source, coupled with the major refining infrastructure plant ready to handle such.

An exciting story unfolding for shareholders here.

Atb & have a good day all.