Member Info for bonum

We had the discussion about other stocks a couple of days ago, with the BPC rns on their Open Offer now released.

Off topic & back to COPL

Atb

I'll be taking up all my Open Offer allowance and of course, as much excess as I can secure, through the ongoing selling of the 'dud' stocks in the Portfolio ie thise not going anywhere soon (perhaps never) and as opposed to BPCs clear, near term timelines and identification of key re-rating catalysts moving towards drilling.

Today will be a lot of non holders who have been on the sidelines, quickly trying to secure Holdings for such.

Atb & have a stress free day as an existent holder

"The only scramble today are my eggs for breakfast on toast." - great, but I hope they're not dribbling when you're looking to press that BUY button and its going to NT trade.

Refer to previous discussions on the rationale of buying into the Open Offer, as opposed to fractiknally below it, for existent holders. Thats all redundant now anyway, as we move forward.

Enjoy the eggs ;)

Mights & might nots - thats Aim investing !

Let's hooe Mike Buck stays 'delighted' ;)

Atb

Logical as a new holder but not so as an exusting one, as has been discussed ad nauseum here.

I'd refer back to Etyan's comments on that.

Atb & hope you manage to get some in the scramble ;)

Boooooom day and certainly shows why Etyan was so confident in the intervièw - as he stated, a few pence on the share price will be meaningless.

I hope everyones enjoyed the 'relative' peace on this BB - the coming weeks will see an influx of many 'interesting' personalities.

Atb & have a beautiful day

This is the good bit and should take away any uncertainty on the Open Offer -

"In the event that not all of the shares offered in the Open Offer are subscribed for by shareholders, the Company's broker, Shore Capital, will seek to place any unsubscribed shares (at the same price) (the "Placing"). Shore Capital has agreed that to the extent any remaining shortfall is not fully placed, Shore Capital will participate in the Placing to the point that the Open Offer is fully subscribed or to a maximum of US$1 million. In addition, Management of the Company (collectively) has indicated an intention to subscribe £250,000 in the Placing."

Result!!

"Bahamas Petroleum Company plc, the oil and gas exploration company with significant prospective resources in licences in The Commonwealth of The Bahamas announces that, further to its announcement of 10 October 2019, a circular (the "Circular") in relation to the Open Offer to shareholders will today be sent to all shareholders.

 

The Open Offer circular is also available to download from the Company website, www.bpcplc.com.

 

Pursuant to the Open Offer, all qualifying shareholders are being offered the ability to subscribe for 1 new share in the Company for each 5 shares held on the record date (being 16 October 2019), at a price of 2 pence per share. A total of 338,543,819 new shares in the Company will be offered for subscription under the Open Offer, and if fully taken up, will raise a total of approximately £6.8 million (approximately $8.5 million) with proceeds applied toward the cost of drilling an initial exploration well in The Bahamas in 2020. Shareholders who take up their entire entitlement will be eligible, via an excess application facility, to request to subscribe for additional shares in the Open Offer, if and only to the extent the Open Offer is not already fully subscribed.

Lots of 'long winded' posts (ad nauseum) on why you should 'sell' and repeatedly posted by good hearted individuals, trying to 'help you out' - thank you gentlemen, you've given me renewed hope in the human race ;)

Now, let's skip the rambling and focus on the actual situation - Gazelle was just the side show.

"We valued Gazelle at 1.4p/share (out of our total 20.1p RENAV for Petro Matad)."

Just focus on the above and filter out the 'well meaning' individuals, who are stroking you into selling - for your own good if course.

Atb & have a clear sighted day

It will be interesting to see if todays rise can be maintained through tomorrow and going into the weekend. May indicate if the seller is still active (i dont mean Albi, lol).

Atb all & have a good evening

"Gazelle only valued at 1.4p, out of a total 20.1p RENAV for PetroMatad"

Puts things into perspective and a more rational perspective, imho

Atb & have a good evening

Buying occuring above the Open Offer price now and as I would presume those currently not holding (or with a limited) amount, are looking to increase their OO entitlement, or indeed cognizant of the probability of a marked rise from the set price on succesful completion.

Totally agree Keith and likely will be a very closely followed stock by the PI community......trolls & all ;)

Atb

A sad life fatal - all those years spent on the ii board and to be effectively dumped off here by Uncas & co - you haven't even made any money on the periodic and very significant rises, as you've been constantly bemoaning the stock.

Now, when we're at the cusp of drilling......you're still sitting in your lonely corner like a grumpy old man. Years wasted commenting on a singular stock!

Ask Uncas nicely and he may come and keep you company again.

Atb

Congratulations on your concerted (and ongoing) 'efforts' this morning - anyone with that much relentless posting after the news, has more than a little interest in the Investment - we're all aware of this ;)

However, people are beginning to break this down and view it rationally, beyond the 'hysterics' you and certain others are trying to promulgate.

Mike Buck is indeed 'delighted' with what's been found at Heron and for very good reason - see intelligent breakdowns as previously posted by others.

Gazelle is being cased and refer to the associated info in the RNS and the informed breakdown of that here.

Comments like 'what if Heron doesnt come through' are redundant (albeit the best you chaps can supply), as the whole of Aim investing is about 'What ifs' and the intelligent application of risk assesment, based on info available - look at the available info on Heron.

I think Proslenes makes some good points on potential valuatìons and the view that Gazelle wasn't even effectively priced in, from that perspective.

The price is iff its lows and as previously stated, people are wisening up to what we are actually looking at.....rather than what people like yourselves would have others believe.

Best buy in quickly chaps - your job is doñe.

Atb & have an insightful day

Excellent points 'Investor-tester' and very pertinent to the investment, beyond all the 'wild rhetoric' being spouted here and primarily self serving for peoples trading agendas.

Good, factual commentary on Heron and as has been pointed out, better geology than the commercial PeteoChina asset next door.

Atb & have a relaxed day all

Very nicely positioned for the Ooen Offer.

Atb & have a lovely day

For your benefit,

'I think the smart ones will be Buying like crazy on any price drop and given Heron testing is completed this month - as we're aware, it's next to an existent commercial structure, has better geology than expected, has already shown......and as Mike Buck stated, he's 'delighted' at what they've found there.

It's not easy to BUY off less than enthusiastic news on another prospect, but certainly presents a fortuitous Opportunity in what will very likely be Transformational news for MATD off Heron.

Make your own decisions, but I know the course I'm looking at, to maximise ROI."

Atb

"I think the smart ones will be Buying like crazy"........you forgot to add "on the drop" in your 'conveniently' edìted cut & paste.

Refer to the comments re: Heron etc

Atb

I think the smart ones will be Buying like crazy on any price drop and given Heron testing is completed this month - as we're aware, it's next to an existent commercial structure, has better geology than expected, has already shown......and as Mike Buck stated, he's 'delighted' at what they've found there.

It's not easy to BUY off less than enthusiastic news on another prospect, but certainly presents a fortuitous Opportunity in what will very likely be Transformational news for MATD off Heron.

Make your own decisions, but I know the course I'm looking at, to maximise ROI.

Atb

We still have the bigger News to come shortly -

BUY, sell, hold or whatever but MATD still has a lot of News due on potentislly transformational prospects.

Atb & have a stress free day