Member Info for Ibiza28

I have been of an opinion that a major may want to buy out the whole company. But do not forget that this does not just include buying out Pereverance 1 & 2 it also includes, Trinidad, Suriname etc plus the potential of Venezuela further down the line. Admittedly Venezuela is a long shot and a long way away but i do not think the board would have bought that license (when money was tight) if it did not think it would be bargaining tool..

Also my knowledge of big companies is they will different budgets for different things and the exploration budget would be seperate from a budget for taking over assets especially an asset like BPC that has by sounds of it very high possibilities in the Bahamas plus a package of assets in Trinidad which it will not really be interested in but then sell off in an MBO back to LK possibly. The figure i would settle for now is around £2-£2.5 per share. If we are able to go this alone and strike and self fund Perseverance 2 the upside is enormous as none of it will be going anywhere else but it will be a long wait. As i say these are just my opinions and do wonder what is going on in the background as it has been extremely quiet over the last month. Far quieter than i would ever have thought with such major find only 100 days away.
Also dare i say it a sell on at this time to an American major might save a lot of Nimibism coming from America.

I really hope you have a chance to enjoy that very shortly. Sounds great.

My aim to come out with a profit either way but the BoD had better be careful about such a low SP as when the budget for taking over companies would be different from the one for exploration and i can see such a low SP with such a potential upside and the ability to off load part of our business to offset this as being very attractive to any sharks. ie an Asset stripper in the form of a Black Knight. I would suggest a bit more information from the BoD would not go amiss with the SP rather than just let roll around the 2p mark would be good.

I think the times have changed for the majors. They have now cut back their budgets re exploration work and they do not have the money readily available in those pots without going back to the Board and the people making this sort of decision do not have the clout with theiir BoD and maybe once bitten twice shy about the Bahamas govt

Ok thanks that is a lot quicker than i anticipated for such a big structure.

Thanks but how fast do these ships travel it has got 6000k to travel or something like that. Can it really do that in 3weeks.

Has any estimated an idea on share price at point of Spud and what it might be should be hit what we hope they will hit ie 1bn barrels.
Some time ago when merger was announced l looked for other Full E&P companies and found Rockhopper who struck oil in Falklands about what we are hoping for at time of spud estimated shares price was 45p beginning of April 2012 and at end first week of June was £3.2 and eventually peaked at just over £5. However oil price was 93$ per barrell then but the farm in was a 30/70 split from what i can tell. Probably because they were in back of beyond. I am hoping for 40p at about time of spud maybe pie in the sky maybe not and on 1bn barrels and 50/50 split assuming farm in and assuming success i think it could rise to £3 per share. How mad am I.

This is a very good point does anyone know how many millions of shares Shroeders and Trafalgar have to sell yet. Also any reason why if we could find an institutional buyer he could go direct to either or both and buy them out altogether or is that not allowed under AIM rules and regulations.

Is he actually retiring or is he just up for rotation.

I agree i am just worried that he is not on the main board and only as a non exec. Will they use him correctly or run scared.

As i understand it then the longer the wait the better the news more likely. If the well is a Duster i would assume we would know the news a lot earlier or am i misunderstanding the situation.

Thanks but in your estimation and i know everyone would vary are we talking days between spud or weeks.

Thank you for this very helpful and informative. As i understand this it means that now BPC should know almost immediately from Spud the quantiity of the reservoir would you know how long it would take find out the quality of any oil and how relevant might that be.

I do not believe that 5 year plan was aimed at us but more at institutional shareholders or potential institutional shareholders. I tend agree 5 year plans are all bla bla as my wife puts it we need solid drill results and no more delaying.
My concern is this new board appointment (Doctor) is the BoD preparing the ground for future excuses.

I just wonder if the board are holding back on news waiting for the big sellers to leave but big sellers cannot leave easily because there is no news. I am new over from CERP where we seemed to get regular updates but here it seems no one gets any news.