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lots of new faces and new opinions on here nowadays.......
Just topped up, it’s going ahead just got to wait a little longer, as soon as the market panic is over there will be a lot of regrets about not taking this opportunity
Interest rate cut announced so that should send stocks higher
“We have also been able to introduce a degree of optionality into those arrangements as we continue to pursue potentially more attractive options - for example, a farm-in - ”
I have followed BPC for what seems like about 10 years now, over that time I have remained cautious as I have been unable to tick all the boxes required to suggest that the risks had materially moved in favour of the investor. As of yesterday’s announcement with regard to the environmental authority I have come to the conclusion that at least in one way or another all those boxes have been ticked to a greater or lesser degree.
Those boxes are, appropriate licencing etc from the Government including Environmental authority, getting funding via a farm-out or similar, getting a rig and drilling a well. The farm-out has not yet happened but I still believe that it is possible particularly if one of those remaining in the data room realise that this ship is going to sail with or without it, indeed that the time has come to or get off the pot, so to speak. That the company has now raised enough money, one way or another, to drill the well, means that all those hurdles I have envisaged have effectively gone away. The company has a drill date in April, the bills have been paid and the rig contract is signed, all they need now is to strike oil……….
Investors will know that this is still very much a long-shot, a big old wildcat that whilst some have it as slightly reduced risk is nevertheless probably a one in twelve shot but aiming at a big structure. Many investors in BPC came to this party a long time ago, the wait has been a very long time but now the waiting is coming to an end, the drill bit is about to make a few dreams or shatter a few illusions, at todays price of 3.6p it is all or nothing but an oil find in April would undoubtedly make it a ten-bagger or more, the choice is now yours….
I think once the 5p people have finished selling we will moVe on
BOOM !!!
Resistance at 5 once its broken could be a nice run
Go on ..... one of you say the magic words ..... “I wouldn’t want to be out of this over the weekend” .....;-)
4.3 offered
11% up on open
I was thinking the same Dutch, it would make sense to do that and whip up further interest in the opportunity
big nose.....
Its like the Opening scene from The Life of Brian.....:-)
1p placing...that would go down well with the locals who have just bought in to the MF @ 2p......
On the way back up
NASSAU, BAHAMAS – Leno Corporate Services Limited has extended the initial offering period for the Bahamas Petroleum Company (BPC) Investment Fund until Wednesday.
The fund was established for the purposes of enabling qualified Bahamian investors to share in the outcome of BPC’s oil exploration project to commence this year.
The initial offering period for the fund, which was scheduled to close at on February 7 has now has been extended until February 12, 2020.
Leno said it had applied the extension to accommodate the administrative processing of applications during the initial subscription period.
as a long term holder I was more than happy for a fund to be raised at a fixed size however what I am not happy with is an open ended amount being offered at discount....
ahh yes ....were probably meant to come in over the weekend to finish off but the Rum Punch got in the way....
3 days is a bit much to be catching up on paperwork....