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Thanks for the response gkb, much appreciated, I just had little time on my hands so I thought I'd route around & see what's to be expected. I kind of like my JV theory being not so distant, especially as they are expecting to drill in august, would makes sense that the JV would not be that far off coming to a conclusion. With a bit of joy we may find out shortly.
Had a look at the Corallian website for clues too, but nothing given away, so as you say it could be anytime on that front.
May have a little glance at Sundgas website if I can find it. I think their Chinese, If I remember rightly. May need to use my google translate skills again ;)
If that someone the CEO mentioned to do the drilling is a Partner rather than someone who's been contracted to drill, then I could be wrong about them not needing to release news. As a JV would be very significant. It does makes me wonder as when the CEO mentioned this towards the end of one of the recent podcasts, he skated away from it quite quickly too. Perhaps he was reluctant to discuss the subject due to Nomad. If news on a JV partner were released this could have a very positive influence on the SP, their website mentions that they are in discussions around Peru for a potential partner to share the costs, perhaps these recent drilling discussions are with that potential partner.
August for drilling Peru seems the only deadline set at the moment for positive new, however the CEO did mention they will be discussing arrangements shortly with someone to do the drilling. This may bring a RNS, but I doubt they would need to release the outcome. Does anyone know how long the 3D seismic survey will take & when we are likely to get the results? I know we have other UK based assets that could also potentially be updated at some stage too, but nothing seems to be expected. Is there anything up & coming that we should be aware of positive news wise?
So will it drop or continue to consolidate. If it drops it won’t be for to long. If it continues to consolidate it’s just a matter of time before we get an update on BPM. Just have to keep your patience & hold for greater reward. Wish we could tell what % of the share pool are holding at the moment. It’s quite diluted but eventually they are going to have to take this up in my opinion.
Think your right Ben, i recall hearing something pretty similar to that on one of the podcasts too. Something like them expecting to receive early & late January, but more to follow in March. Just tried hunting the podcast down myself, but the only one I could find stated by Chinese New Year, but still I’m sure your correct on more to follow too. The podcast focused more on why they were drilling the JORC:
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I think we may stay in this 0.26-0.30 range till news. I believe there is good expectation here of what is to come, so I think a channel may form between this range while we wait for news. It is very encouraging that we are seeing some positive activity on twitter, which is highlighting the potential value of BPM. I know we are waiting for equipment from China, but it really does depend upon which region of China the equipment is coming from, as to whether there would be a delay due to the recent virus epidemic. China are planning on unblocking a majority of cities by mid March if things continue to improve. I don’t think we will be waiting much longer for an update on BPM either way IMO, GLA :)
Looks like the bid is catching up a bit, would still like to see more buying pressure into call of play. Still 1 hour 45 on the clock. About 90 million traded which is not bad, but still less than half of the 3 month daily average. However this may have wings ;)