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Harry, once these 10 mil have been dumped and another 5 within 10 days we still have another 5 to dump before the 60 days is up. Lots to look forward to during this time while we wait for the results

Next few weeks it will keep bouncing off the 2.30 backstop from all the new shares. May as well crab some. The quicker we flush them through the quicker we can start to rise.

My buys are showing as sells. Grabbing 5,000,000 at 2.31

I think you guys missed how this OMJ fund raise will go down.
10 mil up front in 2p shares. Dump them at any price ASAP (definitely within 10 days of Spud). After 10 days they will have sold sufficient shares to lend the next 5 mil then same again and lend the final 5 mil.
So in fact they get a guaranteed 30% as they actually will only have to access 10 mil at one time but get paid for 20 mil.
I assume results will not be published until after the 60 days have run out otherwise this deal is even more ridiculous than you can imagine.

Nearly 400 million shares ( probably more as we already had some large sellers) have to be washed through before we can see a rise.
These shareholders have no interest in taking the risk on the results so they will keep selling on any small rise.

Mike, likely to be end of Feb for results

I would be surprised if it as little as 60 gallons a day.

Spaceconcept

The upside to this whole thing is that the fund will be ours and control is easy to establish also although we have had some issue recently the Bahamas is very well positioned on the logistics side and politically stable.
A lot of oil finds are much more expensive to extract and are in areas of instability so they are not worth the risk.
This would be one of the best prospects for a major and will get jumped on over a lot of other options they have.

Agreed and understood Zag, I just hate to sweep things under the rug. People need to know as they say

OnlyBpc

That is my point. The fund raise wasn’t the issue for me it was the terms. This may sound stupid but it is true.
I would have done the funding deal at 10% guaranteed. Something doesn’t add up. Lend 10 mil sell at least 5 mil worth in the first 10 days after spud lend that same 5 mil again sell another 5 mil and lend that 5 mil again.
That will be a 30% guaranteed over 60 days to you sir. Wow that sounds great let’s make a deal

Egg “ 100% of what we find and not shared with anyone?”

I think you will find we are sharing it out between close to 5 billions shares.

What this actually means is that they only need to lend £10 mil for 60 days for an effective 30% guaranteed.
I wonder if one of the beneficiaries of this unbelievable deal has connections with the board. That surely would be investigated.

Sharescare I am sure the 10. Days after spud is just so they have time to offload £5 mil of shares then they can lend that money back to BPC for another guaranteed 15%.
This funding deal just keeps getting better

The flow test was part of some of the earlier drill estimates. I would assume budget cut this section but now with more funding it may be back on the table.
The flow test is still valid as the extraction wells will be in the same area and will add considerable value to the negotiations with a major. This would apply for an extraction share deal or in case of a buy out.

Seems like Sunday will be the day for Spud. RNS Monday morning to confirm I would have thought. Not sure what effect it will have on the share price as every small rise will be sold into. The hope would be 100 million plus volume a day for 10 working days. That should clear the decks and we can move up.

High chance that Lewis will stay with Wolff also. Not sure if he will sign for 3 years but he might now Wolff is staying

DavidBrent, if we hit the higher end of the estimates the government will make sure things go smoothly. Money talks and no more so than in the Bahamas.

The flow test was one of my thoughts also when I saw the new funding. That would be best case scenario.

Has a % ever been given for a commercially viable find?

All part of the same company