Member Info for Ibiza28

Interesting piece on the news today about heart machines used for children. In its self a small piece and probably nothing to do with TRX but i thought it was interesting as it is the first piece i have seen of restorative medicine since the lock down so if that is coming into mainstream then other stuff will follow alround imo GLA

This might be the problem. It may require a brown paper bag job and i would guess the consequences of this in uk law if ever found out would be great. There was something about this and RR in Dubai or Barclays bank a little while ago. Bad for them would be catrastrophic for us. Hate to say it but i think we have to sit it out.

Many thanks i just get a bit jittery with LO i got screwed over by them dumping shares on another site partly our BoD fault there and also partly LO's fault but did us shareholders get shafted.

Why would LO be off loading now. It makes no sense unless they are needing to raise funds or another loan else where.

As i understand the EL has been granted. All we need now is get our plan approved by Heavy mining department. So this surely i just a question of time. I would hope that MB has been on the phone as unlikely he would be able to go there in person trying to expedite this issue. I would be helpful if he could give some idea of any follow up there has been. Are there issues with the plan in which case we should be told. Has anyone here actually tried contacting the BoD to find our how we are progressing. Any idea how long this stage normally takes in Mongolia. I think we need to understand that when dealing with a foreign government that we are very much at their behest and also that Covid 19 is probably playing a large amount at their end as well. I would ask for patience i am sure it will come otherwise i do not think they would have granted the initial stage of the EL if they were going to reject out of hand the plan. I do not believe they have as i am sure that our BoD would have made sure that all boxes would have been properly ticked. Be patient GLA

i think it demonstrates how good our results were during this period. S&N results i would reckon like a lot of these companies are going to be massively down because of Covid taking up all the space etc. Stick with it this is a short interruption imo and we will start rising again. Probably a bit of resistance through the 1p barrier then on ward and up ward i would think through the year. Once the vaccine takes effective and voluntary and restorative surgery comes back we move on hopefully to somewhere between 1.5- 2.0p by this time next year.

I am relatively new here but have been watching this rise steadily since early this year. i suspect there is something brewing here in the background. This rise is too steady to be just MMs playing around imo and far more at just optimism in the health services getting less overwhelmed.

I agree with you it is amazing that people are selling. The reason is i guess the share news that TRX drops on sales news. i mean i ask you the last year the medical services around the world have been fighting trying to save peoples lives and not had time to regenerate their lives yet still our sales figures are more or less in line with last year. I think the share price initially reflected that hence the drop in price over the last year. One the vaccine is rolled out, especiallly the US, this will pick through. This is a hold for me for a year at least i reckon. onward and upwards

Thanks very helpful good luck all.

I am new to this share. Got attracted to it by its shareprice and felt it was well undervalued which i assumed was the downturn and pandemic and felt that as the vaccines began to role out the pressure of various health services got back to normal this share would recover and i had it down as a slow burner in my portfolio but it appears it is attracting someone attention. The question what valuation do you think our product lines to a major if there is one out there sniffing around. Currently at 57m 100m would be about 1.5p or is this worth more.

I believe they will sell on the asset. The CERP assets plus Uruguay license will be left behind. SP will retire, we will exit Bahamas, the BoD will keep aside a war chest to buy further businesses, possibly issue an exceptional dividend per share and then start a share buy back probably Nine Shares for every ten at a price probably above current SP (after all they diluted below current SP) and who would sell if offer below Share price.. Personally i think they should buy all all share 1 for one and then change name of company from BPC to something like Atlantic Regional Oil Gas (AROG plc) and issue new shares one for every ten held at buy out from the Share Premium account which must be massive after all this dilution. That would give all shareholders including directors a proper return on their investment plus a new share at no cost covering CERP assets and Uruguay license then rinse and repeat. Easy peasy !!!!!!

I personally think they sell on whole field rather than farm out it is in the directors DNA to build businesses up and sell on. I think SP wants to retire having found the biggest oil size outside of Middle East and EU either wants to take over or move on to pasture new and play in a bigger playground. Maybe stay on and keep a decent war chest to aquire other businesses and stay on as CEO. Just thoughts. I think BOD will only think for farm out with 700m or less barrels.

Agree but having just lost a senior Director and respected oil man and a SP that is going nowhere i would have thought it important to make a statement maybe not on what we already know but about strategic plans and thoughts going forward but that might have given too much away but tend to agree as you say we are really busy at the moment on delivering P1 and think it best to withdraw from this presentation at the moment.

yes but i think that was before a lot of the dilution. I reckon about 25% off these prices now for additional dilution. But also i think we should add one in what if they find 2bn barrels. here is hoping. This is rapidly becoming an all or nothing drill. The bottom end and this share is going nowhere. At the top end it could be we sell on whole field and BoD buy back shares. The share price is sorted for us The problem comes in the middle 770m to 1bn where by we will probably need to farm out then share price will possibly spike before falling right back and then rise up again slowly. It would spike at around 70% previous estimates.

I think this is what the judge was aiming at it gives everyone a victory and saves the real question of do we drill for oil if it is found to the people of the Bahamas further down the line.
FS can claim victory by fact judge has said there is a case to answer. Maybe he should have tried earlier might have made a difference by they did not.
BPC get what they want the drill to keep on turning.
Am not sure what the BG out of it though other than a headache further down the line but quite frankly that is their problem and not mine.

I cannot see them going on to seek a JR although they have the right. It would be pointless. By the time it is scheduled we will have finished drilling and found what we need.

Also they would need to come up with a bond and by then we would asked to co-joined in the case and the figure would be way out of their pockets.

If we find oil in the quantities that we hope it then becomes a different question and one for the people of the Bahamas to resolve and the PM to workout which side of the fence he is sitting and probably be put to bed by a referendum.

no one is going buy whilst we have the court case over our heads. Once that is out of the way hopefully this week then it will start to move and very quickly imo.

We have a seriously diluted share approx 5bn and probably counting. We own 100% of what we find. Not 80% or 75% but 100%. The alternative would have been way back to find a farm in at 20/80 which would effectively be the same. The real question here is IMO do you trust that we will find the top end of this estimate ie 1bn barrels or more. In my view he BoD are convinced and have been for a very long time that they will find the very top end of their estimates. This amount of dilution for just 700m barrels would be and probably company suicide. but if we find the 1.4bn and effectively de risk a potential 28bn barrels and maybe even more than that as i think the BoD have been prudent their estimates. They never seem to over sell anything (certainly not the shares!!!)
i have understood all the fundraisers up till now and the price of the offer is to large determined by the price of the share at the time. No one is going take or accept on offer for share at 5p if the market price is 3p and to a large degree we are all responsible for this by sniping at each other and talking the share down. The only one i completely fail to understand is the Volantis one and i had a query over the last one for additional Covid measures that seemed a bit expensive. That one i believe was for a legal fund. It came about the time that FS was getting on his high horse and trying to get someone like Claire Montgomery QC at such short notice and over xmas was never going to come cheap. The volantis issue is the one i do not understand. If the BoD are so confident of hitting the top end why raise funds on a seriously depressed SP at the moment. The factor is that it is not purely for Saphron or TT but was an additional top up the legal contigency battle. Which ever way i try and explain it it boils down to one thing and that is very poor communication from BoD ( who from what i can tell have a very poor history of communicatiing with shareholders. I would that all those on here who are genuine LTH and in this for the find to hold off from denouncing the board and talking down this SP any more than it already is and hold judgement till the find. Becasue if i am right and we do find the top end and i think it is very possible that top end could well be >1.4bn barrels then what the SP is now will be a total irrelevance. Mind you this is all assuming that this court case is put to bed properly and not just kicked down the road. Because any over hang may well affect the income price of a major and we do not need any confusing traffic signals on the way.

the previous fund raiser (last but one) i think was intended to party cover legal fees. It was felt on here that raising that amount of money for additional Covid precautions seemed a bit excessive. I reckon that company guessed this was coming and already had Claire Montgommery QC lined up already just in case and she would not come cheap especially over xmas. Whether it was enough along with other contingencies is another guess but would hope most has been covered.

That is just the xmas party. I hope