Member Info for Ibiza28

Irene

No i will not because that is not the point o the post. The post was to illustrate the cost of shopping with a maxed out credit card. At the moment we have a close to maxed out credit card 5bn at .5p per share. Any purchase would come at a very high cost. So if this were to happen there would need to be something very big going on in the background inorder to boost this SP significantly otherwise it would not be a takeover but a merger (if anything were to happen) and that could turn out to be a double edged sword as any profit would be taken up with the dilution.

I am not saying he is right or wrong my only comment if that if it is there is something brewing in the background as otherwise we are shopping with a maxed out credit card. But to be fair to Starchild he is only quoting from the RNS so if he is wrong then it is the RNS that is wrong. You do not start due dilligence until you are pretty certain of the funds. Obviously diluting us like hell does it but then the interest we pay ie reduction in SP is way over the top. There are two sides to being commercial one to the company and two the providers of capital unfortunately we do not have much say in it.

Could either of those two but also Govt of Mongolia just to be boring.

If Starchild is right and we are in the throws of doing some Commercial due diligence imo it meas there is something brewing in the back ground that has to be quite big. One does not tend to go shopping and to the point of trying on clothes with a burnt out credit card and to be honest that is all we have at the moment is a burnt out credit card. YEs there is hope out there in the form of increased production but that is in the future and not now and the same goes with Bahamas so imo there is a nice looking deal on the table with Gneiss and it would need to be good and i mean good. Because all we have is 5bn shares at 0.6p that are permanently manipulated to stay at that level. Confidence in the BoD is rock bottom not helped by SP saying dead cert and missing. So this deal needs to be something solid in cash and at the same time make the neighsayers and doubters be out numbered significantly by the hopers otherwise we shop with a burnt out credit card and very high interest rate ie in this case very low share price that might benefit a lot of people except us who find that we have issued billions of shares for an acquisition that might turn out to be more expensive than it is worth. If we have cash then we have more than just a burnt out credit card. It is only going to take something big to shift this shareprice. Something promising jam tomorrow is not going to do it imo.

Surely it would be best to raise the funds after the license has been granted and approved as the SP would have a kick start and we would probably raise more on fewer shares at that point where as now we are sitting in limbo waiting for Godot to arrive and would have to place at below 3p and issue a lot of shares and therefore a lot of dillusion. My view if we do not need it now then do not raise it now. I would raise a few days after approval on a rising SP which would surely go to 10p fairly rapidly on approval. Just my opinion

I am not expecting an RNS this side of Easter. Get the court case out of the way. The oppo seem to think there will be no more drilling. Maybe they are right maybe not then when they have or have not got the 200k then we can get on with the rns and what that may turn up. Here is hoping.

Petrodollar
I am needing to make a few estimates at this end on what holdings i have and wonder if could give me an idea of realistic SP not an over optimistic one but one of ex;perienced realism for this share here and also BPC by let us say 6 months from now assuming the EL is granted early Q2 at latest and BPC annouce a deal of sorts aroudn the same time. Don't i will not be investing on back of it i would like to get a third party view. Many thanks.

Monman

Let me understand you clearly are you saying the granting of this license will happen in the 2nd 3rd quarter of this year 2021 because that is a long wait from now or are you refering back to what should have happened in 2020 see your point 2. Point 1 refers to 2020 but point 2 is slightly ambiguous.

So once we have got the EL granted , finally. Assuming no massive dilution where do we see this share price by end of June and more to point this time next year.

As i see it we either sell now for 0.5p knowing that in a probable break up of the company it would be worth more than a 0.5p or we sit and wait and see. Riceman may well be right this maybe just another lot of hot air coming from management but i do not believe we would have engaged Gneiss if we did not feel that this was real. Anyway our need to make a deal is greater than it was back then.
Would we like more information from management ideally yes but what would we do withit. We 5bn shares give or take held by umpteen million shareholders and i bet if you asked them they would probably have umpteen million different views on what the company would do and then complain they have not enacted their plan.
Some while ago i emailed my ideas through to the company and needless to say have not had a response.
My idea is simple what ever deal we make this share price will never reach the heights it should because the MM's will play it and milk it for all is worth. I think the company should sell on the whole Bahamas field to one of the super majors if interested almost any price. Assuming that out there there is 28bn barrels of oil. Even if sold at 1c a barrel that is 280m 1.4 exchange rate gives £200m ie 4p per share. Then i would immediately buy back all shares in company 4p per share. Re name the company as we no longer in the Bahamas to Atlantic Region Oil and Gas (AROG) and issue new shares from the Share Premium account at no cost of 1 for every 10 previously held. ie 500m shares. Assuming CERP assets valued at 50m new share price would immediately be 10p and those who want out altogether can sell up and move on and those who think that CERP assets undervalued could hang on in and sell later. For those who do not know the Share Premium account in the company is massive because of all the dilution and has very few uses other than to issue out bonus shares to existing shareholders. This would give all shareholders a equal chance rather than a fastest finger wins contest.

When we get this license where do we see the share price by end of June and end of the year.

This is more a tone frustration rather than desperation. And please no suggestion of brown paper bags etc as that is the sure fire way of making this share completely worthless if ever caught. Frustration through a tight bureaucracy compounded by another lockdown. Assuming there is still money in the kitty and would be helpful to have a financial update from the company then just sit tight either hold or buy in a few more. I think this could be relatively quick from here as i get the impression that MB is trying to cut a few corners to speed things up.

Tilburn really helpful by referencing to an ariticle dated Dec 14th 2020 ie 6 days before we spud and now over two months old. Please give us more accurate information.

I get the impression that someone is off loading a lot of shares still. Just that amongst all the blue and buys of various sorts there are two sells of well of 1m shares each. Any thoughts.

P#1 came up with zero or next to zero. But that does not mean the all the other folds are zero so there is still a lot to play for. Is this share going to make us rich. No. Can it get us our money back yes almost certainly in time. Could it make us a small profit yes provided all cards fall in our favour anything could happen. I am not adding any more at the moment but if we do not hear anything from company and Gneiss bargaining before end of March then i would think of adding some. I reckon if we get an RNS in next two weeks it will be bad news probably with no deal possible.

Just thinking if it had gone to another institution there would surely have been another RNS about increase in holding unless of course it was a completely new institution.

Must admit I assumed on the market but if you know better I stand down.

Do not forget LO are off loading a lot of shares and it would take time to shake out something like 70m shares even at a price of .75p. Once they have gone then the price will move on up again. Until the next time that is.

Yes my gut tells me that March 1st might be good. No reason just a feeling.

What is your "through the roof mean" 2p upwards or even higher than that