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Tel

Yes you are right for sure mon ami for the nth definitive but frankly I’m a bit too tired to go that far at the mom.
Bryn is right so many variables and we are all potentially about to disappear up our own boreholes.
ATB mate,
X

Bryn.
Thou art truly our protector and we thank you for that.

However we were asked a question and it can only be answered by subjective response.

I guarantee that I could be miles out on my prophecy.

However I have number crunched the correlation between COS/BOO/POO + Moyles evaluation + market cap + speculator overexhuberance (by the market, not me.)

I tell you what - you know your fantasy league of stocks? Record my prognostications and we shall see.
P.S. I’ve had 1/2 bottle of wine now! Hic!
Cheers mate.
XXX

Tex
Just move the decimal point for wifely purposes!
Enjoy your hols.
GL.

Rich

Broad brush:-
RNSs confirming drill definitely going ahead and BPC solo = 7p min.
Drill in ground and turning = rise through 10p to 20p.
Farmin announced = 25p.
Oil find pre reserve analysis = 40p
Confirmation of reserves in line with hopeful expectations = 70p+
Timeline for all of the above is completion by mid June.

Confirmation of high end of expectations I.e. a billion + = £ signs.

All IMHO.

Fatal by all means.
Just remember “Thunper’s” mum’s philosophy..........

GL mon ami.
X

Andy it’s circa $3mio mate.
GL.

Hi AE

No the cash in hand or @ bank is the residual from various raises over the last year or two.
It is effectively the working capital raised to pay the bills.
It is important to track theses cash flows particularly to understand that McQ for example is not a big drain day to day because a specific raise was done 20ish months ago to pay their fee.
GL

Keith apologies but a man’s gotta do ........sometimes if called out.
X

Mats

I will have 1 more patient go before I send the boys round to say hello:
I bgt @ 4p in 2010 and sold same holding @ 21p .
Subsequently have been buying steadily over 10 years and average now @2p in several millions.
The original trade profit virtually covered my current holding so as to bring my avg down to virtually 0.
You work out the ROI if you can.
You are using info from 3 months ago when virtually weekly since then there have been updates from Eytan and Simon.
The reason I know they have cash in hand is because I took the trouble to monitor capex based on conversations had with Simon and Eytan over many years- always keeping current.
I know their monthly outgoing and their cash flow based on previous raises etc - I have a spreadsheet!

Now you don’t know me from Adam so again because you challenge I respond:

I have been a financial markets professional for 40 years and worked for the biggest.
I ran a $5 billion portfolio so know a bit about asset evaluation and number crunching.

I like to think that most LTHs here know my experience from our rapport on this site and also hopefully respect my knowledge.
If not then I am delusional and you have found me out.

I think we should call pax there and we will agree to differ if you still do not accept my numbers.
GL
X

Mats
+ Simon Potter actually said they have $27 mio pre MF.

Don’t try to teach your grandmother to suck eggs.
I’ve been here for 11years and know this company first hand and do not need to rely on secondhand quotes as you seem to do.

Mats they have cash in hand of approx $3.0 EOY
Plus $1.0from MF

Jim we could have a bottle of A+B&H sarnies!

TSAE

Sorry spellcheck didn’t work.

TSAE

This is unequivocally high risk and you should DYOR.
BPC website has all the info including presentations, independent verification etc.
The COS is assessed independently by Moyes as being 30-35% which is about as good as it gets.
BPC have outlayed $100 million on derisking theses assets so hardly “wildcat.”
There is historic proof of oil being in the region however technology was insufficiently advanced to make viable - this from various majors.
The reason for such a long time coming in the main was down to Macondo which ripped the heart out of deep sea exploration and made the Bahamas govt understandably reticent to commit politically.
All that is history
Not trying to persuade - far from it however some of the other comment to your question was swayed too far to the negative.
Now you have most of the facts.
There are a lot more and so DYOR.
GL

TSAE

This is unequivocally high risk and you should DYOR.
BPC website has all the info including presentations, independent verification etc.
The COS is assessed independently by Moyes as being 30-35z which is about as good as it gets.
BPC have outplayed $100 million on derisking theses assets so hardly “wildcat.”
There is historic proof of oil being in the region however technology was in sufficiently advanced to make viable - this from various majors.
The reason for such a long time coming in the main was down to Macondo which ripped the heart out of deep sea exploration and made the Bahamas govt understandably reticent to commit politically.
All that is history
Not trying to persuade - fare from it however some of the other comment to you question was swayed too far to the negative.
Now you have most of the facts.
There are a lot more and so DYOR.
GL

Mats it’s $13.3 from CLN.- £10.25

They have $28 mill including CLN.

Methinks Moby might be back again.
Then again I could be being a bit of a dick!

Keith let’s face it at some point we will get news??

Whilst we are v positive LTHs I think we’ve become used to prevarication and can’t quite believe it’s about to happen!
GL mon ami.
X

Jim

Great thanks.

Helps a lot and explains relatively easily to me a layman why it is 60 - 90 days.
From the cost perspective whether drill is turning or idle the capex is still constant hence if we get lucky and do expedite optimally (60) the difference can be approx $8 mill.

This context is extremely important in my view as if we keep the luck then 2 wells funded is getting more possible in a go it alone scenario and indeed fund raising would be pretty easy when “Perseverance 1” is successful.

Does that compute in simple terms?

Cheers.
IK.

Til

Thanks for a great summation much appreciated.

I personally feel very comfortable re legal, finance etc cos that was my bag. So great to understand from a pro the sharp end of the real stuff.
Cheers.
GL

Khonsu.
Hai.

The 40 mill is still part of the PR exercise re Bahamian ability to be invested.
It is peanuts really in the scheme of things and BPC have realigned the offer rate from 2p
for appropriate fair price reflection.
Still don’t get why the IIs were dumb enough not to fully subscribe to the offer @ 2p themselves
to be honest. But hey less dilution for us.

An espresso machine would at least give us a shot at/of the “blackstuff!”

Wakarimasu.

GL