Member Info for bonum

Exactly.....ill researched by the shorters and no doubt much angst at seeing the price relatively buoyant around the current level.

The obvious answer to Institutions approached by Shore Capital not buying on the open market, is that such an initiative would bolster the price to possibly much higher than the 2p open offer price, hence better to take up any remaining allocation in one chunk, at a set price.

The Management are well aware and confident enough in their strategy to move into drilling for H1 2020.

Atb & have a good evening

Hmmmm......!!

Good to be holding.

Have an enjoyable evening all

LOL.....twitter twits ;)

I see that as a very viable way forward and consistent with a bigger picture playing out, along with the confidence of an experienced Management team in putting together the Open offer.

As expected, sitting around the OO price, with Buying on the dip just below it and positioned for the significant Re-rate going forward.

Atb

Pretty standard wording on such financing deals, but obviously shouldn't be completely ignored either. However, it would be bizarre for such an experienced BoD to set up such a deal if they weren't Confident or had contingencies in place, especially when they could have secured the full funding amount albeit at the associated heavy dilution.

I would assume Shoreline have already put out 'feelers' to prospective Institutions to take up a portion of any outstanding amount and we also have ongoing discussions re: Plan A ie the Farm in agreement, which indeed may still proceed and modified to an exposure level consistent with any potential shortfall in the Open Offer - that apart from any other initiatives that may have been explored by the Management to cover such eventualties.

I'm confident in them having covered all the possible outcomes with appropriate contingencies and leading us into actual drilling for H1 2020.

A multiple price appreciation from any current levels in the coming weeks, imho.

Atb

Looks like they may very well have, with the price as predicted, sitting well at the Open offer level and any slight dip being bought into - all at the same time, avoiding larger dilution......and a Farm in deal still in the offing.

What I'd rxpect from such an experienced team.

Atb

Indeed and the best way to view things - some people cry 'madness' but no doubt have more than a keen interest in the investment, whilst others see opportunity and have an equal interest (and money) in the stock.

I go by 'official' company releases AS WELL as the past industry record of the management team - these give me every confidence that what they look towards moving towards ie drilling, will actually go ahead a well as the other catalysts mentioned ie Rig procurement etc

So, I'll go with the BoD and official RNSs as opposed to anonymous BB 'interesred' poster views.

Atb

I bought some BPC stock for my niece, as one of the few real genuine 'game changing' opportunities out there - hopefully get her a deposit on a flat sorted out.

Usual caveats for all stockdealing for those reading this - but more confident in BPC pushing ahead than ever before.

Hopefully the kids & grandkids will be extremely thankful for your investments soon PI - good to see us finally making moves towards actually drilling.

Atb

PoC, agreed on that and once they provide further details on the record date, I'd anticipate a stronger push on the price and with the accesability to buy futther, as part of the Open offer - of course, we have other potential developments also always on the cards and being heavily emphasised in all 'Official' communications.

I wonder if the Proactive Investor interview will cast further light on Plan A!

Atb

So, you've 'Stagger Bought' in a sense, like myself PI

I'm also looking to increase further but with the confidence that I also currently hold BPC stock

Atb

I think that whatever the transient price action does, it's pretty clear that the Management team are confident enough that drilling operations will be proceeding and in turning down the alternative funding options put on the table - these guys aren't cowboys and are too experienced to jeapordise said drilling initiation.

I see any price below 2p being aggresively bought into, thereby stabilising the Ask at around or slightly above that price, providing the requisite buoyancy to keep it there. It wont take much buying inertia to push it over and especially considering those wishing to take a larger Holding than any Open offer opportunity would provide.

The Management would also be very confident of Shore Capital being able to place any additional stock to institutional buyers, the amount on offer being no doubt significantly smaller than any smount potentially on offer during previous funding enquiries.....hence acceptance of the 2p price.

This will be significantly higher than the 2p levels on a few weeks imo and cognizant of the awareness of the BoD of all 'other' factors that are at play here and unknown to regular BB contributors.

Very comfortable holding & certainly looking to increase the overall Holding.

Atb

Now RELAX and enjoy the day ;)

Atb & have a serene one

Anything below is prob a bargain and with the Open Offer at that level and the CLN conversion at 2.5p

The drilling is set to go ahead, Rig deal set to be concluded.......and lots happening around the Farm in that we're not aware of.

Management confident though.

Atb

Yes, the Directors certainly aren't naive enough to imped the actual drilling operations - they could have gone down the doscounted placing route and the drill aould have gone ahead - they chose not to and are putting their own cash into the pption chosen.

They're experienced enough to knoe what they're doing to get the job done.

Atb & have a stress free day!

Yes, the Buy back is certainly achieving that.....!!!

Money in pocket is preferable thank you!

The CLN price is the key level and at 2.5p, gives us some leeway and beyond the coupon value attached to said CLN.

We all anticipated some fundraising beyond any Farm in discussions and given the catalyst that would provide to actual drilling. Certainly the Open Offrr at 2p is significantly better than the figures put around by some and pointing towards the c 1p levels.

I'll certainly be taking up my full allowance and more subject to funds, as no doubt will many others.

Excellent outcome at 2p imho, so well pleased with that.

Atb

"Conversion Price: Given the pricing established for the Open Offer, the conversion price of the Conditional Convertible Notes is now set at 2.5 pence per share"

No brainer at current levels and below the CLN conversion price!

Open Offer set at 2p

Convertible Loan Note coupon value at 12% pa - conversion price at 2.5p if chosen.

Rig Negotiations actively pursued

Farm in still current with a stronger position for the Company in said negotiations

Drilling to commence H1 2020

Excellent outcome and especially given the machinations of TW & the SP team, who no doubt will have profited in some way from their rumour mongering (at orfinary shareholders expense) - they know this will be one of the 'hottest followed' stocks ovee the next few months.

We now have key defined stages leading into & through drilling, with reasonable expectations of significant price Re-rates through those stages - Finally drilling!

Good to have secured my own increased holding through my 'Staggered Buying' approach and now will spend the rest, beyond some purchasing todat to increase my Open Offer allowance, on said Open Offer stick.

Atb all

The share price may or may not rise by that amount but that doesn't translate to the 'hard cash' that a dividend would have provided. Many of us aren't looking to sell our stock at or near current price levels, hence any minor appreciation of the share price is less relevant than a tangable return whilst we see out further operational progress.

It's not rocket science!

Atb