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Keith

They may indeed, but eventuslly the individual interests of any of those interested parties will win out and in relation to other potential partners also in negotiations.

BPC are no doubt going to capitalise on that and drive the best deal possible, given the number of people at the table.

The up to 50% reduction in the CLN is telling and the 'progress' being made to said conclusion.

I think we could have that 'breakthrough' at any time and certainly wouldn't be surprised to see such anououncement as soon as next week.... or even Monday for example.

When the party decides to formally accept agreements already discussed, everything will be rapid from there.

Some very large, individual 1M+ Buys today.... interesting when taken in conjunction with singular large Buying yesterday too.

Cumulative, smaller sells dictated the price yesterday, despite such select shows of Confidence from whichever informed or researched parties made such purchases.

It does look like there's quite a few individual Companies vying for the partnership agreement - as today's RNS states-;

"The Company.. has maintained an active dialogue with 'a number' of interested parties, including a number of oil and gas majors and supermajors.

If there's a number of Majors / Supermajors within a greater number of interested parties, unless every party is acting in concert, we'll likely have that breakout for the conclusive Agreement we're expecting.

It suggests BPC are driving to a very advantageous deal for Shareholders, with no doubt room to negotiate down to still conclude an excellent deal.

In the current climate, we may get that resolved with immediacy and well in advance of the renegotiated CLN timeframe.

Let's hope they're busy taking this weekend for an RNS next week!

Ftse up over 4%, Dow pre-market up over 6%!

Excellent reaffirming of drilling with the 'SLIGHTLY' extended timeframe - exactly the word used in the RNS and certainly puts said extension into perspective - This after all the random postulating of 'No drill'!

A notification of upto 50% reduction in the CLN requirement!

Reaffirmation of 'PROGRESS' in negotiating the Farm in contract, with a Major / Supermajor ie multiple parties at the table.

'Middle east size' potential resource.

Opporrunity knocks at this price level in this situation and given the highly likely conclusion of the aforementioned Farm in and in a timeframe at any time within the time to spud.

After 2 very hard days with the Markets, we've seen this level as 'relative' stability and can reasonably anticipate a move upwards from such, imo and especially factoring in the aforementioned.

The wider Markets will preceed actual events to recovery and look to have factored in the pandemic status / Opec issues etc.

The current situation presents major Opportunities imo, which some will no doubt grasp and as we look towards a more fortuitous time to drill & announce a Farm in deal.

All much better positioned than yesterday imo.

Blue finish & before further news/ leaks on the Farm in!

As previously -

Initial drop yes, but the other factors noted will play into a wider, more astute Buying, imho.

- Markets will look forward and hence projecting a better macro environment (preceeding the actual resolving of the Corona issue) for Newsflow reception off actual drilling Ops.

- 'Progress' of Farm in and a much higher likelihood of said conclusion, given the up to 50% reduction of the CLN

- RNS for the above preceeding Spudding, hence reduced timeframe for significant News than the 4-6 week extended timeline

- Reiteration of Drilling as opposed to the last few days speculation of 'No Drill'

- Some gains back on major indices after Mondays and yesterdays sharp drops

- Gains on oil futures

Today's RNS is a very good outcome on several key fronts for holders, hence after some initial 'panick sells', the more astute investors are likeky to be mopping up the discounted shares in large amounts.

Let's see how the day progresses - Blue finish, imho.

Prospect,

I've actually been right most of the time, with some variance on timeframes perhaps. I also have a very large PF, having been very succesful in the Markets over the years.

That's primarily due to being able to identify good stocks but also along with a great Patience in seeing them to fruition.....and a healthy disposition to go into a 'Zen mind' in accepting the short term downturns - everyday is good when you can clarify the end point of the investment.

That's also why I was looking to Buy more this morning at these bargain prices, whilst some panick sold off what is effectively a very good RNS for us (reasoning in a previous post).

Arb & have a glorious day!

You did well with your Buy JM!

Bargain hunting going on atm! I have a goid amount but went to pick up more at these levels - NT and then a hugely inflated Ask price to the prevailing SP??

I tried but went to NT......then 2.7p to Buy??

Initial drop yes, but the other factors noted will play into a wider, more astute Buying, imho.

- Markets will look forward and hence projecting a better macro environment for Newsflow reception off actual drilling Ops.

- 'Progress' of Farm in and a much higher likelihood of said conclusion, given the up to 50% reduction of the CLN

- RNS for the above preceeding Spudding, hence reduced timeframe for significant News than the 4-6 week extended timeline

- Reiteration of Drilling as opposed to the last few days speculation of 'No Drill'

- Some gains back on major indices after Mondays and yesterdays sharp drops

- Gains on oil futures

As I stated previously, today's RNS is a very good outcome on several key fronts for holders, hence after some initial 'panick sells', the more astute investors are likeky to be mopping up the discounted shares in large amounts.

Let's see how the day progresses - Blue finish, imho.

Atb &;enjoy the day regardless - its a much better day for holders than yesterday!

Let's see!

Farm in announcement should be before Spudding anyway, so shoukdn't have to wait the additional time for that, if we believe it's going to be concluded succesfully.

The reduced CLN and confirmstion of progress in todays RNS, strongly suggests that.

As I said, the clever ones will be loading up.

Now the day awaits - atb!

As long as its a Blue finish, with the sharp ones 'taking opportunities' to Buy Trek ;)

Atb

I actually think a Blue finish is on the cards and given reaffirmation of the drill going ahead (beyond previous rife speculation to the contrary) and the progress being made with the Farm in.

Markets look ahead and will do so in anticipation of the world getting onntop of carona and not when.

In the same way, many of us are highly releived that we're likely to have key developments through a somewhat better macro Market environment, rather than the current state of affairs.

I'd prefer a Farm in notification, spudding, other Newsflow to not be in an environment at the height of the hysteria.

A good RNS all round for us.

Enjoy the day all!

Hopefully some level of greater stability in the wider Market too, in order to more fully realize upsides in the Share price through the drilling process.

Much, much better outcome all round for us shareholders looking for the above.

Good for me and most of those holding I would suspect!

Atb & have a great Friday all!

At least that reduces the uncertainty that was prevalent on these BBs regarding them not actually drilling - we have an exra 4-5 weeks added to the timeline in the interests of being prudent - but an affirmation of the drill going ahead AND reiteration of prospects regarding the Farm in.

"Slightly reschedule commencement of operations, to later in 2Q 2020, to a time when continuous delivery of operations...... Pleasingly, farm-out discussions in the context of our overall funding strategy continue to advance."

Good to have that clarification from the company, rather than the wildly speculative discussions on 'non-drill' on these discussion forums.

Should be a solid push back up on the BPC share price then and from its 2.5p base on the bid.

Hopefully back above 3p as we saw previously and whilst we await the Farm in announcement.

Agreed Jim, looks very much like they've negotiated something very special with the SuperMajor/ Major, details of which will be released in shortly.

Leas shareholder dilution associated with reliabce on the CLN and the move towards Drilling and options beyond Perseverance 1.