Member Info for CarsCoffee

Brex my decision was based on the LO finance deal and the terrible situation we would be in if a duster occurred. My opinion ( wrongly obviously) was that they must have seen some early positive signed to go ahead with the PUT.
I obviously had too much faith in the board making the best decisions based on the information they had. I have taken a huge loss however I was aware of the risk and accepted it.
My portfolio is still up over the last 12 months so I will not beat myself up about it. I really was in this for the Bahamas story and wanted the success for the people as much and maybe more than for myself.
Sad times, I will hold for now and hopefully we see a change in management and some progress with the CERP assets.

Unfortunately to meet those production numbers they will need a lot of cash so major dilution has to happen. $100 million market cap could be possible but who knows how many shares will be in circulation at that point

The worst part of this is the Bahamas get nothing. Unfortunately I am sure they had high hopes for this cash injection.
I feel sad for the people and for the shareholders. At least we have a lifeline in the other assets and a possibility of recouping some of our losses

Sad times for everyone, I will hold for now and see what the next month brings. Let’s see if the board can get the assets developed as promised however currently they don’t have the cash to do so.

Very good article Nelly

Anybody have any insight into why April for results has been talked about on here and by the board. Surely it won’t take a month to analyze the results?

For those who can’t make the party in the Bahamas I will also post a meet up at Podium Place in Newbury. Cars and Coffee what better combination. Throw a bit of oil in there also.

Nothing yet, I am currently in Fort Lauderdale doing a yacht renovation but I have been in contact with my political sources but no news.
I am not sure but I was under the impression that the 45-60 days was from spud but included the breakdown and capping of the well. That would mean that icemax will likely be on the move off site within the next 12 days.
In my view the closer the the 60days the better as we would have pulled the plug if nothing had been found at this point in the drill.
Not sure how the LO Call Will work out and I am also not sure what additional funds we need to complete this drill to 60 days? Anybody have an insight?

The party needs to be in the Bahamas. A little more contribution to the economy. I am happy to host and get the food and drinks at 12p.

Wow congratulations everyone, the performance has been amazing over the last few weeks. Definitely wish I had bought back in at £16.
Pleased for all you guys hopefully plenty of legs left if the numbers start going on the right direction.
Good luck all.

The warrants will not be before the results and in fact the Call could be made on the day of results so that is a difficult question.

Urbantech I would have thought the Call will be made and then the additional warrants if the share price rises.

Well I am of the opinion that if they had been worried about the LO finance deal (the massive payback that would be needed in case of a duster) then they would have attempted to do a better job of promoting the company and the other assets.
The only concerning thing for me was the comment regarding the future of the company regardless of the P1 result. That scares me a little as we all know that is utter rubbish with the current finance that has been put in place.

The supply ship is due in early hours of the morning so no trip to West Palm but make sure we keep the update on movements coming as I will go if the timing works.

35 mil at around 2.3

If anyone sees the supply boat move again headed to West Palm please post ASAP. I will definitely go to see it come in and see who or what comes off. Maybe a drink in the known crew spots.
I am in Fort Lauderdale not Nassau at the moment and West Palm is not far.

28 million shares. I wonder what restrictions he has on trading during this period.
He would definitely know at this stage if the results are good or bad but due to insider knowledge he must be restricted on trading?

Can anybody remember how many shares he holds?

“ this exciting time for our company “

Interesting statement if I read between the lines.

I am still a believer in the fact that BPC would not have taken the Put from LO if they had no signs of oil from the early targets.
This fact triggered me to purchase an additional 10 million shares and I stick by it. Similarly the tweet would also lean towards a positive result.
The interview next week should be interesting and I think if it goes ahead we will learn a lot from the body language.
I am not one for speculation however I highly doubt that the BPC board would have gone forward with the financial deal with LO (which in my opinion will lead to bankruptcy in case of a duster) if they had not had early positive signs.
I may be wrong and the board may be risking any professional future by taking the funds however I find that unlikely.

A very easy and conservative number would be £1 per barrel market cap.