Member Info for brynjon

whistler "Two more points we should never listen to advice but never deny an opinion."

The issue on boards is that too much opinion is given as advice ;@)

I certainly do not wish to put a dampener on people's dreams - I too have a dream, though I am not one to shout out about my aspirations.

I have in the past mentioned a previous venture into an oil company some years ago which was DGO which I bought as a tiddler at 3pps. Consolidation followed at 25:1 leaving me with 1547 shares back around the turn of the century. By then the 3pps was 75pps with consolidation and it went up to over £1.25ps. Whoopee was not my expression especially as it tanked to under 10pps and with only 1547 and only paper certificates at the time I put them away and forgot about them.
Roll on to 2010 and I looked at them out of curiosity - they were rising above £1 per share again. I looked again and they kept rising - I checked them out online (as the web was readily available by then) their drilling operations in Turkmenistan which was an old Shell field seemed to be producing. Then they reached over £4 per share and I thought 300% is not too bad so I sold around £4.50 - they of course were later went to £8 per share when the company bought all the shares back.

The numbers for DGO in terms of oil was nothing anywhere near the estimates within our licence areas.

BUT

We have yet to place the drill bit never mind find oil - BWTFDIK - Keep dreaming though opinions remain opinions Fact remains Fact.

Sweet dreams all - Yes I do want another DGO &;@)

...too much of a case of guesswork to be honest.

Some years ago we all wanted an 87p party - we dreamed and we did not make it. Since then there has been a considerable dilution, however, nobody can say with any certainty what price this will be tomorrow never mind within a year.

Best thing to do is look at companies who were in a similar position with regards drilling an oil well (without the potential multi-billions of barrels of oil) on their own. Look at their charts and see where they were a year before they hit/found oil.

That of course will just give you an idea and nothing is at all certain. We have yet to get a drill bit near the seabed never mind drilling a hole. There may be a better answer by June - but for now it is a case of take or leave your position. The SP may fall or rise on the approach to drill being in place - it will go mental when we know the drill is near to drilling. It is all very much a win or lose situation. Take proper financial advice and not from a faceless poster or at your own risk don't.

There is some great information being posted but take that advice and research it to clarify what is fact and what is opinion/someone else's take on the wording.

Sit back and relax until we know what is under the sea bed - oil/water!!!

I think a spell in the naughty corner would not go amiss.

10 Hail Mary's and 2 Our Father's and abstain from alcohol for a week, say an act of contrition, and learn the first half of the Catechism (CCC) and once you are done flail yourself with birch twigs and we will hear no more of it. AMDG (and that is not one of your sporty mercs)

Let us all go forth and prosper. ;@)

..a couple of things excite me.

1st
Four structures over the Bain, Cooper and Donaldson licences with "Unrisked Recoverable Prospective Resources" (EUR) in excess of 500 million bbls each at multiple reservoir intervals;

I have searched the interweb to try and define the "unrisked" comment relating to the prospective reserves. The following sums up the majority of results:-

Unrisked reserves are those which have already been developed by drilling and production and thus have a very reasonable certainty of being produced. Risked reserves are either probable or possible reserves depending upon the amount of uncertainty involved and basically represent poorly developed or undeveloped oil & gas fields.

I am assuming they use the unrisked term as the sites have historically been drilled and oil found and therefore nothing to suggest it would not be found again.

2nd - refer to number 1 lol. ;@)

...we had a few moments of concern last week with the extension and subsequent aftermath, though nothing of any large concern. Still plenty of folk doing their buying and usually more than were being recorded as sales. Still not a number of trades to get excited about.

The omj story will do its rounds and perhaps some folk may panic - using the law of averages of course one day he may be correct.

Hopefully sometime next week we will receive a gift of an RNS - whilst we were initially told Q1 for the drill, I am unsure of any movement of any kit to a location that would be ours. 7 weeks until end of Q1, during which time we may hear news of anything connected.

All messages from the company remain positive and keep my glass half full - not wishing my life away but next week may be interesting.

Stay safe all.

informative post Heid - though you will know there is now a predicament - which is correct? ;@)

bonum - I think you may have misunderstood what I wrote.

I never mentioned the BoD saying the MF was/would be oversubscribed - I was on about the various suggestions made on here about it "massively/probably/is oversubscribed" - we all have our opinions but we can all become a little over excited about possibilities.

We know we are committed to a drill - fact
We know we have the funds in place for that initial drill - fact

It is things like this we should be concentrating on rather than the what if type of possibilities as some folk can read too much into them. We are probably all guilty of posting a bit of opinion etc. No harm done - but the many posts from various posters since the MF was extended - about over subscription turned out to be incorrect. Hence me suggesting we stick to the facts before us.

We have the makings of a great story here and I am still glass half full - I admit I did start to believe there was substance in the possibilities around the MF ;@)

well said keith1 - the RNS and the attached link to the Leno fund page was enough. Yes there is room for interpretation - but there is in anything. What the RNS stated was for administrative reasons.
That is all we needed to know and that is all that they said.

If they wanted us to interpret differently they would have added a word like possibly or maybe.

LMAO - I have been up most of the night storm watching - I will wear my donkey's lugs today.

...what gives?

..detailing everything from how the oil is formed to extraction methods, history of drilling, eia applications, capital structure, convertible notes. I think most questions posed on the board in recent weeks will be answered in that document.

Link again here:-
https://www.lenobahamas.com/images/pdf-docs/BPC_Bahamas_Fund_PPM.pdf

"3 days is a bit much to be catching up on paperwork...."

It is the Bahamas ;@)

Careless - posted at 705am

No trades showing as yet - here is a link to the prospectus if anyone interested.
https://www.lenobahamas.com/images/pdf-docs/BPC_Bahamas_Fund_PPM.pdf

On 6 January 2020, the Company advised of the launch of a Bahamian incorporated mutual fund (the "Fund"), established for the purposes of enabling qualified Bahamian investors to share in the outcome of the Company's project to explore for hydrocarbons in The Bahamas, should they so wish. The fund is being managed by Leno Corporate Services Limited ("Leno") under the terms of the Fund Investment Memorandum. A copy of the Fund Investment Memorandum can be found on Leno's website at www.lenobahamas.com.

At the request of Leno, an administrative extension of the initial subscription period of 3 days has been implemented which will now end at 17:00 EST on Wednesday 12(th) February 2020.

...other than the buffeting wind outside. I half expected there to be a stream of folk joining in.

Stay safe all - going to be a funny day.

Rickie - it seems that you are the one that keeps bringing it up. ;@)

I will have a look for that programme - not even heard of it before - just looked it up and looks like a decent quiz show. Do not watch much telly though have been on a couple of shows most recently 100k drop - lost at the final question when my mate who was previously a nurse guessed the wrong answer to :- from which ventricle of the heart does the blood leave? We only had one bundle of money so was not too bad when we got it wrong lol.

Judge - I almost agree with all you say. The talk of farm in is perhaps due to the comments made by the company about potential farm in. They have never ruled out a last minute farm in and they also still state it would be a preferred option and therefore not ruled out prior to sending the rig out.

That said, if we do move to gain the farm in before we would miss a trick with negotiation of a better deal.

Not long until opening - I am sure there will be news forthcoming and perhaps put a few notions to bed once it comes in.

p.s. I am not expecting massive news Monday though hope it kick starts the upward movement of the SP again.

careless - HL and Barclays as you see them on the significant shareholders - these are the larger nominee accounts and they hold the shares for many thousands of private investors rather than holding the shares as an institutional investor.
See the info below:-
https://www.sharesoc.org/investor-academy/advanced-topics/nominee-accounts/
https://monevator.com/nominee-accounts/