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Bryn
I have just caught up with some Tv recordings and watched “A ChristmasCarol” with Guy Pearce as Scrooge - well worth a watch - excellent.

I then signed into our board and read a few postings.
Than you for your contribution - as always fair and balanced.

To others of a not so balanced persuasion I do hope that the 3 ghosts pay you a visit as I am sure it will help your digestion whilst eating your gruel.

Happy New Year again everyone.
XXXX

Jim
Excellent summation and very much my thoughts as well.
Nice one!
GL mon ami .

My thoughts exactly.

Same thought occurred to me Harry before reading your script.
Would be telling, if so - MMS @ play.

Hi Jim

I don’t think that BPC will issue new shares to the MF as SP specifically said that this initiative was not a cash raising exercise about a month ago.

To me this means that MF has to buy from existing stock.

Thereby is the dilemma as BPC want Bahamians to feel good about this venture ergo make money and it is difficult to keep a lid on a bubbling pot:

To my mind there are many ingredients in this pot and a pressure cooker can explode and I expect that here after 10 years of many eyes on the pot waiting for it to boil.
In this case a watched pot will definitely boil and will explode.
There are many many investors of a historic nature who have been burned/bored/broken/bullish...ed etc etc who on the first actual specific drill news will TRY to re-enter. My ? is - what price will be available.

The other point re funding for CLN (which I do not believe is an issue for Bizzels) is that as mentioned previously the exchange rate is taking care of day to day funding going forward and IMO will continue to benefit BPC as £ appreciates.
GLA.

Mmmmmmmmmm!

“Whale in the water time?”

Happy New Year to all our fellow boarders!

Just hoping that my conspiracy theory is about to kick in whereby the reason for a quiet patch re “news” = a farmin partner on - boarding; hence delay in final sign off for rigs etc + delay to enable Mutual Fund to buy in @ current prices.

Rose colored spectacles or New Year bubbles? - we shall see!
GLA .
XXXXX

Thanks Jim useful info.
GL

P_I that would be a ringdeer then!

Morning Bryn

You mention “speculative” so I will piggyback off your title on a thought I’ve been having, if you don’t mind.

When OO was initiated GBP/USD was 1.25.
Today it is 1.32
I predicted @ OO time that we would see 1.4

Those £££s will not have been hedged/converted to USD yet as contracts etc are not signed and $$$s have not been committed.

Today BPC is better off @ 1.32 by approx $1.3 mio.
@ 1.4 IF I we carry on trend which IMO a conservative majority on Thurs will ratify then @ 1.40 BPC will be almost $3.0mio better off.
Coincidentally that would be another year’s annual expenses thus achieving “2 years CLN funding” requirement.

Yes I know all very speculative but yet another planet aligning.

And yes P_I am talking my book but it makes me feel good after all this time.
Endorphins beat Prozac any Day! Well accompanied by gin anyway.

GL MES AMIS.

I am becoming more and more convinced that Seadrill/Halliburton contract sign off by 30/11 “deadline” being not confirmed despite funding now available is because of extraneous circumstances.
My belief, as things on the news front have quietened since the plethora of podcasts/ interviews in the last month which is unprecented in BPC history, is that a/the Major is back.
Their hand has been forced by an campaign by our company to force them to make a decision or miss out on getting JVd @ a reasonable price.
The JVee would want to control rig/well head contracts hence my speculative theory re signing delay.
Noticed some decent buys this a.m. so possibly about to hear something imminently which would be appropriate on a timeline as if we are drilling end of Q1 everything needs to be signed sealed and delivered on a similar timeframe as BPCs plan A i.e. go it alone due to license requirements.

GLA.

********** podcast - 29/11/20- BPC Simon Potter - 4mins 30 seconds in
Bahamian Mutual Fund :-
“Not a money raising exercise or gouge.”

Actually one other thing:

The 60% oversubscription can also be used by IIs to keep a lid on SP at say 2.10p (ring any bells?) whilst Mutual Fund is floated.

Think I have just become a conspiracy theorist - time for a cuppa!

Just a thought:

Have BPC played a master stroke here?

The recent issuance was over subscribed by 60% when IIs are included.
BPC obviously knew that they were going to “float” a BPC Mutual Fund for
Bahamians which IMO effectively further underwrote the issuance as some IIs would be made aware of that as a selling point.

Therefore BPC have funded the first drill AND kept their commitment to Bahamians (great PR - skin in the game) AND to a degree kept dilution for existing shareholders down to a minimum.

Furthermore by putting a 30/11 timeline on contract signing by HALI/SEA/BH they may have forced A Major’s hand.
GLA.

POC
Thanks for that.
That is good news one way or the other as even if Major is joining the party I guess Hal/Sea/BH
will still be involved in one form or another.
BPC do appear to have negotiated fantastic pricing so their contracts could still be the best for all concerned.
P.S. I do realize that the Major is still a big assumption! So trying to not get too excited!
GL.

Jim/Bryn.
Fingers crossed!
As mentioned on Monday I am wondering oif the reason for no confirmation of contracts with Hali &Sea by 30/11 is indicative of a game changer.
Major would presumably affect all contractual negotiations.
GL.

Let us no
Us not ryes

Weeeeeeeeeeeeeeeeeeeed!
Although that also had a different connotation in those days.
Not that I understood it M’Lud!
GLA.

OM goodness- I have a problem - I didn’t get that for several minutes.

I think I have to rethink my postings!

Bryn you just gave me heart failure with your “Boom boom!.
Thought it was re news.
Remember the old git’s please - :)