RE: Chips and rice14 Jun 2018 01:35
Amtech - hats off for deferring your salary.
I do however, suggest that it could also be construed that the BoD deferred their pension knowing that a deal was on the cards so a no brainer for them to defer in the knowledge that talks were well underway before this signing of the NDA.
Of course that is supposition, however, a real possibility knowing we have had that potential tie in on the cards.
I do not think it is fair to state "sheer desperation" though a possibility maybe.
The facts are Amtech - BPC are in talks (with an NDA) with a major player in the oil industry.
That company appears to have been quite taken by the legendary 'Data Room' so much so that to keep BPC sweet they are paying for the privilege of poring over the data in order to make an informed decision or NOT.
The data held in that room is backed up by Moyes and Co.
BPC company website also boasts:-
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;
Three of the four structures have an unrisked EUR in excess of 1 billion barrels of oil;
The EUR have been estimated statistically – and each of the separate intervals are considered to have different risk. However, if the hydrocarbon system is working at each level, the four structures have a summed mean EUR greater than four bboe;
The report focused on the Cretaceous interval only. The shallower Tertiary strata and deeper Jurassic pre and post-salt will be evaluated after we have completed our 3D seismic interpretation and;
The report also addresses the Chance of Success by reservoir interval for each structure.
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To post on a company website that the company have an Unrisked Estimated Ultimate Recovery (EUR) of 4 Billion BBOE would be quite foolish so one would hope this major player has had a half decent boffin pore over the information properly - perhaps the reason for the 3 to 6 month payment scheme.
The website of course is information from the company and it is their understanding of what we have as shareholders.
Other people may have a different take on that information - HOWEVER - I will err on the side that the company actually know what they are doing.
Best of luck to everyone in their investments - Shares can go up and go down. Spread betting and trading should only be done by folk who know what they are doing and above all else never invest or bet what you cannot afford to lose.
Stay safe.