Member Info for cperkin

I welcome the update but am sceptical till they deliver as we have been here before.
Seems they are,

1.0 Close to closing a new deal
2.0 Advanced dialogue regarding the sale of Ruvuma

"The Company is in advanced dialogue regarding its first transaction in the sustainable energy space through the acquisition of an energy generation asset and is actively progressing with the due diligence process. Whilst there is no guarantee that the transaction will complete, the Board is reassured by the progress to date and will update shareholders and the market in due course. Any investment will be conditional upon shareholder approval being obtained for a change in the Company's investing policy. Further updates on convening the necessary general meeting will be made as and when appropriate."

"the Board is targeting an enterprise value invested asset base of £150 million, capable of generating cash flow of circa £20 million per annum, within five years."
Ruvuma
" the Company is engaged in advanced dialogue with a number of interested parties on a sale of its Tanzanian natural gas assets. The Company continues to be the recipient of unsolicited expressions of interest and has received a number of indicative proposals for its Tanzanian assets which it is considering."

Blimey even a Helium one update delivered on time as well!

Farmouts take time, near term focus should probably be on

Drilling of the Saffron #2 appraisal well, targeted to commence in Q1 2021, which, subject to results, would rapidly see BPC seek approvals for a Saffron field development, and with up to seven production wells to follow through 2021.

Drilling of an appraisal well and conduct of Extended Well Test (EWT) in the Weg Naar Zee Block in Suriname in Q1 2021, and subject to results, rapidly moving into a wider field development, with up to six production wells to follow through 2021.

I would expect some recovery on spud dates.

GLA

All unknown, since the BOD communicate so rarely and the ship seems water tight compared to many aim companies when it comes to info leaks.

Licence extension and 3D this half for Ruvuma, 2D and drilling for the Helium asset.

Thanks Nelly, much appreciated. Seems low post Saffron-1 discovery, a minimum of 65% would be more expected for an appraisal well.

Indeed odds on to win the next drill man.

Thanks Irene, seems no one knows then?

"Rich" is all relative and you won't find many of those types frequenting an LSE BB, that's for sure.

Thanks Chesh & Egg, can't find the COS on the BPC website and don't have much time today. Any idea on the COS IreneK?

Anyone know the COS, must be high?

Morning steve. I don't expect any news on Ruvuma till post extension licence renewal myself.

Don't see the BOD have anything to do all day, all well and good them taking shares for salary, but at this price it is a gift imo, with the assets worth over double the mcap in the market, easy money both ways. Now if the SP was 2p, then I would not be so concerned about shares for salary, but a penny!

Like I am always blathering on, they might as well wait for the CH1 drill to complete and put Ruvuma on the market whilst the 25 year licence application is processing with any deal dependent on that deliverable. Might get close to Neil Ritsons $100 million then.

Morning Colin, yep just read the same. Amazing that they can progress on a farmout for a failed exploration well that was also legal challenged, but not one for a drilled and already appraised asset with high potential upside? Wonder if they will deliver anything there?

Good luck Keith, I have a couple like that myself, all part of the learning experience on AIM unfortunately.

https://twitter.com/Heliumone1/status/1361230104014303234

CEO David Minchin joins seismic Bird-Dog Christian Lapegue reviewing line conditions ahead of mobilisation of the seismic campaign at Rukwa...

The market is the market, hope the long term holders get to see the light & return on their investments and the noobs make a tidy profit along the way.

Well Thordan, your calculations look miles out to me.

AEX just sold 50% for $40 million, $5 cash and a $35 million to production
This implies the Zubairs are going to pump around $107 million into the asset.
The 25 year development licence (not 20) is dependent on the 3D being completed this year and CH-1 being drilled and the results added to the 2 TCF giip and 763 BCF 2C

So $20 million base today and probably closer to $60 million post CH1 and licence, so imo you missed of a 0.

I don't see that WEN can afford it without a huge dilution to shareholders, but with all the WEN Bod's recent pumping, then maybe that is exactly WEN's plan? a Pump preceding a raise is the classic MO on small caps after all.

Interesting to see how it all plays out.

Since the Seismic kit has already arrived in Dara, I expect an RNS next week or week after on 2D infill commencement

Enjoy the weekend.

They should change the name again, to the "addicted"

Have a great weekend!

Are the BOD completely paralysed? We have Neil Ritson to thank for the lovely assets on the book, seems the BOD are unable to do anything other than ride on the back of them till Helium-1 and the Arabs deliver on Ruvuma.

GL

Likewise, pre discovery and production prices, lovely!

Looks like Colin is out on those 2 trades, £8.44 and £5.08

;0)

Good luck Colin.