Member Info for bonum

I wonder if the Fund bought more in the Market yesterday......?

"Prime Minister Dr. Hubert Minnis, who spoke at the groundbreaking ceremony, complimented Longley and his staff for working hard toward becoming the premier wealth planning company in The Bahamas, as the company now holds assets of $1 Billion under management.

Certainly suggests there's a lot of wealthy investors willing to put money under the company's management.

With the price of stock offered to said investors at a very significant discount to the prevailing price, it's not surprising Leno would be overwhelmed with demand for said stock and in need of the additional days to deal with the associated Admin.

Mutual Fund closes today & the start of the period for multiple RNSs towards our drilling objectives.

We should be inundated with 'RED DOTS' shortly!

If the long awaited News comes in - of course!

This has risen well and to an extent not recently seen on an 'ramping' initiatives or 'false news' diseminated through the various social media platforms.

It could still be a false dawn but as has been pointed out, a very realistic possibility of delayed news due to conclusions nearing of the issues that have held held it back.

The Upside in that scenario is of many magnitudes to the current share price, whilst a downside risk is dwarfed in comparison, from these levels.

Given the aforementioned and my previously stated aims, I'll hold for definitive News from the Company and hopefully in line with Art's comments on being very near a resolution , albeit cognizant of his character flaws.

No'No News' RNS either off an intra day high over 50%, which feeds into the increased likelihood of a possible deal.

Atb & have a good day all

Rickierich, no doubt during the reasonably anticipated Upward push on the share price towards drilling, parties will indeed offload some stock purchased at lower levels.

Indeed, that's likely why many are Buying now in anticipation of having an opportunity to do so along the way - that's the privelage of Buying in early and why many of us have chosen to do so, whilst also looking towards the drill results to potentially provide the biggest pay off of all.

I think your very recent comment says it all - "Risky play going in and out u could be costing ur self 100,000 pounds for the sack of 5 grand now, tempting but no. Not for me."

Hopefully your 'sack' will be worth considerably more soon!

It hit over 50% intraday and no 'No reason fir Rise' RNS released!

Interesting times.

Have a good evening all

Whether people invest through the Mutual Fund or not, if we do hit oil the country as a whole will benefit tremendously through the Sovereign wealth fund.......those 'poor & deprived' souls, whether muggers, angels or somewhere in between, will be well aware of that.

Excellent point Shamima and certainly in line with the Company's own previous statement on the Find being 'well received'.

An extension for reasons beyond 'Administration backlog' would almost certainly extend beyond just 3 days, if indeed they needed more time to attract further interest.

It sounds like exactly what it is - an additional few days to deal with the strong demand they've received and again, in line with the previous 'official' company statement - preferable to BB speculation, imho ;)

A very Bullish RNS expected shortly, imo!!

Given the over 50% Rise, I'd expect a 'No reason for Rise' RNS to be released, if indeed there was no justification for the bullish move on the SP - thus far nothing, so we may indeed have something to be positive about.

If so, the current Rise would be dwarfed by those to come.

Let's see though.

Back to BPC for me

Atb all

Although BPC is my more solid investment for a multiple ROI going forward, it's good to have a foot in a stock like COPL at least.

It epitomises the High risk v High Reward saying.

Let's see how it plays out.

Atb all

Well spotted -

"Leno said it had applied the extension to accommodate the administrative processing of applications during the initial subscription period"

Just seems to reinforce the earlier 'official' statement of the company regarding the Mutual Fund being well received and now looks like Leno are having to deal with a greater than anticipated demand.

Expect a very bullish RNS in a couple of days - and then some more!

So, Leno applied for 3 additional working days to process what we anticipate to be an overload in administratative load and due to heavy interest in the Mutual Fund - that's backed up by the strong interest as communicated by the Official company RNS.

Those who wished to sell off that 3 day delay likely did so yesterday, with many no doubt looking to jump back in, given we're a day closer to the Wed conclusion of the MF.

The Mutual Fund, although useful for some additional funds & bringing locals on board, isn't of itself critical to drilling - that's going ahead and in accordance with the 31st Jan RNS.

The timeframe for that is a very short one indeed, with the multiple RNSs in a condensed period, as discussed on this BB previously.

Any Farm in of course, could be announced at anybtime but my own view is that if concluded, will be immediately after the closing date of the Mutual Fund.

Not really into 'predicting' prices on a daily timeframe, beyond a bit of 'fun' speculating, but do see this turning very rapidly as the Momentum picks back up towards Buying and in anticipation of the aforementioned.

In a weeks time, any previous near term highs will be left in the dust, imo, as we conclude the MF and Re-rate in anticipation of the greater Newsflow released.

I'm sitting back & secure in my holding for that.

Atb & have a beautiful day all.

We could indeed finish BLUE - who knows with BPC and the way momentum can pick up on this stock.

We do know it's heavily watched and many who sold this morning on the flimsiest of a delay of a couple of days, in what is rssentiasly very likey an administration burden due to the volume of interest in subscribing to the Mutual Fund - that from the early indications of it having a very positive reception and its discount to the prevailing price.

I'd expect anyone eligible with funds would be flocking to Buy into it!

The BoD have emphasised their intentions to maximise shareholder value and are indeed well aligned with Shareholders through their ownership of stock.

The recent RNS clarified our path to drilling and the very compressed timeframes involved.

Many have been caught out badly on drops before, hence why we can reasonably expect a surge in Buying the dips at any time, resulting in a reversal of momentum - imminant Newsflow would provide a 'pull' on the price for such and regardless of any early morning drop.

Blue finish - we shall see, but to quote Etyan, a penny here & there is pretty irrelevant to where they see this heading (so certainly puts fractions of a penny into perspective).

Opportunity abounds today for those actually looking at what's playing out here and as we rapidly head towards drilling and accepting the couple of days Administrative extension for a heavily oversubscribed mutual fund, imo.

Sieze the day in all ways.

Atb

This week we'll get our Re-rate!

Enjoy the day.

This is what we're really focusing on and the meat of what we're doing -

"Temporary field office set up and staffed to deliver well

o  well design and planning substantively complete

o  major contractors integrated into the well execution team

o  procured further long-lead items including drill bits and casing

o  completed tendering for helicopter, supply boats, and various other required support services

·    Deadline for satisfaction or waiver of all conditions precedent in relation to the £10.25m conditional convertible loan note extended to 9 March 2020

·    Further announcements on contracting, financing and approvals expected in lead up to mobilisation and drilling"

I would think that given the very positive indications in the previous RNS AND the price disparity between the share price for subscribers to the MF and the prevailing price, the Fund would have been very heavily Oversubscribed.

They probably want to expand the MF and are discussing such with the company.

Look forward to the next few days as we really get into the meat of the Newsflow....

That was last Friday's close tatty, lol

"Just an administrative extension. Maybe being swamped." - my thoughts too, especially considering the early indications we had in the previous RNS.

If the marketing for the Fund was doing so well a few weeks ago, I would imagine they're looking to expand it.....

Lol

I mean 'running on credit' from the perspective of using the services but not paying for them - as in utilities & expenses charged after the period of utilisation of said expenses.

You could not pay rent and it could be months before any eviction orders are issued and ebforced. The same for other utilities before they're cut.

Art should of course notify the market in that eventualy but would he??

The flipside of course is as noted by others, so let's see how this actually plays out.