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Well you did ask Dubed.
GL.

Fair enough Bryn.
GL.

I just wonder........

Really thin market in BPC it seems and perhaps one would expect a tad higher with oil price/AGM etc?

However does occur to me that price may be being somewhat influenced by underwriters of prospective new issuance to obtain cheap entry after AGM approval.

I do seem to recall mention of various levels for issuance for various participants circa 2.4/2.6p.

Of course I may just be experiencing “conspiracyitis!

GLA.

You’re definitely missing something.
Go away and bother other less intelligent mortals.

Absolutely Glide.
Remember 3 day week,Red Robbo, bin men on strike and garbage piled high in the high streets.

Anyway let’s forget party political broadcasts guys.
This is good news for a nation that has been blasted recently and we should hope they do alright from oil developments.
GLA.

Nice to see you back V.

The 3.20 level is proving obstinate.
Double for many but also recall many a LTH mentioning 3p as average over the recent years.
Can’t blame folks for taking profit or coming out square.

If 3.40 is paid and bid then we are off and running.
GLA.

And why not?
Let’s double the issuance and keep 100% of the asset!

Sounds better than 10% ownership everyone was promulgating only a few months ago.
GLA especially Bahamians.

As usual P.I. You succinctly sum it up.
Thank you.
Any other comment is superfluous and unnecessary at this awful scenario.
GL all Bahamians.
X

Oops! Bryn my memory failed me - senior moment - so even more per capita!

Spot on imho MPLS.

Bgt a couple of bob’s worth on Friday sub 3p pullback.
As mentioned previously, sticking point is likely to be 3.2p as short term double for many but once through will see rapid acceleration.
GLA.

Bryn good background info.
A little while back the Bahamas church folks were saying give every Bahamian $100,000 out of oil revenues - not too dissimilar message.
What is always omitted from these entreaties is the fact that only on success can revenues be extracted which costs capex that the govt is not willing to spend/risk. and more importantly, the BG will receive >25% of all net revenues in royalties.
There are I believe circa 1/2 mill folks in Bahamas and if projected revenues are accurate, the minimum the BG will receive in royalties is approx $20 billion which if divided by 1/2 mill = $40,000 each. The maximum based on projections is approx $350,000.
Not a bad return for no risk and no effort.

PP I.......oops that’s finished now.
You need to read the last few days updates as things have moved on.
GL

Tatty do not sell anything at least until the drill is in the ground. IMHO 10p+.
The numbers associated with this project are far in excess of the majority of projects.
I.E. The potential is as big as virtually any prospect in history. Many billions.
IMHO the AGM can be a bargaining environment because whilst I, like most want to see this “done” I believe the BOD are trying it on by attempting to award themselves shares BEFORE A DRILL SUCCESS .They already have shares allocated to them in similar amounts based on “successful drill.” ........ Successful financing of drill is not success.
Alignment with shareholders interest is required.

I don’t think we will have the opportunity to participate as they have “several financing solutions under consideration” (paraphrase).

Bit if an end of week tree shake going on - for many short term traders 3.20p was a “double” and who can blame them for taking some profit.
We have traded for many weeks circa 1.6p.
As mentioned previously, technically if we end the week above 3p that is very bullish.
GLA.

Spot on PoC.
I don’t think folks have factored into SP that the BG must have sanctioned a go it alone premise.
This was never considered as possible by the vast majority after Macondo etc.
The fact that Hali/Baker etc are involved is massive credibility to the project and has to have had EA approval to be published.
Another board has had confirmation that EA approval is now effectively a rubber stamp exercise and not a political decision and is only awaiting rig/equipment detail for full sign off.
GLA

Jim

Good stuff and very much similar to my calcs.
I too have been hammering the calculator and am factoring in COS plus a bit of other “worst case scenarios”.
Not there yet and will publish when done but absolute worst case for everything for me is 14.7 p pre drill on full dilution.
GLA.

Bryn
I agree with you for our friend Bahamas242 - first of all actually please talk on the phone to a broker (it is free because they want your business) and they will be able to guide you as to the best way to proceed with your investing.
Good luck 242.

Yes indeed Arma.
The ideal tech scenario would be for a close tomorrow night above 3p and then I feel comfy that we are building for an assault on 5.20p.

I hasten to add I I am not a tech trader per se but evaluate all trading tools to see what different trading methods are outlining as possible outcomes.
GLA.

Yes Michael and a hold above here now technically indicates a rapid move towards 5p.
GLA.

Hi Par

Simon did not “refuse” to speak to the journalist he was unavailable for comment.
Hopefully that means he is up to his eyes in negotiations and hasn’t the time.
The RNS was very detailed and I suspect had everything that could be said in it so no value to BPC to talk to the Press. The less oxygen given to anti drill factions the better.
In addition I suspect that Simon is probably paranoid after all this time and at such a sensitive point in negotiations about making a dodgy comment.
He could of course be unavailable as he is signing a deal in some Major’s head office!
GLA.