Member Info for Interestking

Hi Lyn x.

It might be FISHFUL thinking but you never know.

How’s Crete and the tan?
Which part are you in?
It’s certainly one of my favorite places.

Cheers.
IK.

BB17
I posted this a few days ago and the activity still seems to be occurring.
Maybe just maybe the whale is about to surface.
Fingers crossed.

“IMHO and I know I sound like an angler in every sense of the word:-

very similar price activity and purchasing to early last year at 0.0092p.over last few weeks.
It spent weeks circa that price with many small sells around a few large buys.
Typical activity of a “whale” hoovering up the crill.
It creates a “sea” of red over the days in small trades but the “net” is significant purchases.
The end of that period last year ended with “exclusivity” talks being announced and we all know what happened.

Something in my DNA says something “fishy” is going on.

GLA”

Morning Bonum.

IMHO and I know I sound like an angler in every sense of the word:-

very similar price activity and purchasing to early last year at 0.0092p.over last few weeks.
It spent weeks circa that price with many small sells around a few large buys.
Typical activity of a “whale” hovering up the crill.
It creates a “sea” of red over the days in small trades but the “net” is significant purchases.
The end of that period last year ended with “exclusivity” talks being announced and we all know what happened.

Something in my DNA says something “fishy” is going on.

GLA

VG.

LOVE Canaries - always great Irish pubs that do Beef and horseradish sarnies!
You never know, what about it Lyn?
X

Sure is Boss!
GL.

Morning Lyn x.

Many thanks for the kind invite PI.
Unfortunately I have a prior engagement at Buck house that day to wet a new arrivals head.

Enjoy your lunch and especially the sarnies and love to Mum. X (for mum.)

Are you in Bahamas PI and is Ocean Club still good for when we celebrate the deal?

GLA.

What time do you want us round?

Agreed PI and interestingly I watched South Pacific only a couple of days ago!

Maybe it’s Kismet and yes I love the musicals.
GLA.

PI my take/guess is that the 4months exclusivity should have been enough for the “major” to do DD.
I am fairly convinced that the talks were suspended because of lack of clarity from The BG side re licenses/regs/full contractual commitment etc.etc.

The fact that recent months have given us what appears to be that commitment from BG should in theory mean that if there is going to be a deal it will be announced as one.

I am not sure on timing as I think BG need to evidence full DD to the populace and B&V’s report is key to that.
The EIA has been done historically I think in 2012 so should only need updating.
How long is a piece of string!?

Obviously this is only IMHO but is my logical supposition.
GLA

Well if she is coming for 2 weeks then 2 roasts to hedge your bets.

Beef and lamb for me if you’re opening up the guest list to BPC holders!

Unless of course you are an expert crackling maker in which case pork.

Oh the heck with it - do all four then we’ve got cold for teatime sarnies.

Sorry got carried away there and now feeling very hungry.
GL PI.

Jiving the majority of posters on this board are positive about BPC but they are in no way “Rampers.”

They are very long term holders - in many cases 10+ years - who have experienced first hand the trials and tribulations of BPC’s story.

The share price has fluctuated between 0.05p and 25p during that time and so 2p can hardly be viewed as a ramped price.

Indeed many LTHs are under water at 2p.

During most of that time the average cash liquidity has probably been about where it is now.

BPC had a farmin partner in Statoil who walked after procrastination by the authorities in approving regs etc.

The govt is reimbursing BPC by means of credits for future license fees as compensation for said procrastination which resulted in BPC being unable to finalize a drill. Exemplifying BPCs problems through no fault of their own.

There is much more history that needs to be taken into account when analyzing the investment case for BPC than simply cash v SP.

Everyone has been frustrated by events of the last 10 years but now the signs are looking better for progress to be made.

Please do not confuse the feel good factor of finally possibly seeing things improving with ramping. That is an insult to LTHs who have been extremely loyal and patient.
Thank you.
GLA.

I suspect you meant to include “in your opinion.”

Morning Lyn x.

Absolutely right!

The stumbling block throughout BP tenure of license has been the BG who prevaricated interminably for the last few years on allowing BP/partners (e.g. Statoil) to progress to a drill.

To be fair to the BG they were stymied by the G of M disaster and politically it was never going to happen until the populace had forgotten that event.

IMO the Major last year was probably up for it but the govt. was still not firm enough in its commitment contractually.
I believe that they the major said too tenuous - get the govt fully committed and we will revisit.
Hence the very proactive actions of recent months evidencing commitment on regs and due diligence - B&V.

The lowest industry verified estimates would see BPC a minimum of 10 times the current market cap with potential for much more so the SP is not unrealistic at 2p based on all speculative potential.

Of course we do not have “facts” yet but soft facts are in play I.e. govt proactivity.

GLA.

Keith you are spot on Sir.

The BG have put up road blocks throughout the last 10 years.

Statoil walked due to lack of commitment from BG post GOM disaster.
Regulations were procrastinated on due to political uncertainty.
The previous govt official responsible for the regs was arrested post losing election for corruption.
Many many other examples of BG being the culprit for deferment of decision.

This is further exemplified by the fact that the current govt have agreed to waive some of the fees for the license extension to 2020 as compensation to BPC for delays due to no fault of their own and to offset fees paid during the times they were prevented from taking action.

Worth bearing in mind that whilst the latest license extension is until 2020, the actual contractual license expiration is to 2026, renewable 3 yearly. The game therefore does not end at Dec 2020 - optionality is still in force thereafter for BPC.

There is a lot more background factual info to all of this however most participants here are fully aware having been here for many years like us and do not need it all reiterated again.
GLA.

Thanks for the snippet Ken.

What I would add is that whilst ideally the argument is valid; practically we are a long way off I.e. decades before we take our foot off the gas!!!(sorry.)

Climate change and conservation will be at the forefront of minds however we are in for a massive population explosion and oil will feature for a long time.

Additionally the fact that a large majority of fund managers are saying the same thing is usually the time to bet the other way!

Contrary thinking is very often right in theses circumstances.
GLA.

“What light from yonder window breaks?

Tis the” RNS and we will have some “sun” (@ the party in The Bahamas.

Romeo and Juliet.

Nicely summed up Tib.
I ask myself with all my investments:
“If I was square in the stock would I invest now.”

The answer here is yes and yes It takes time for a consortium to be arranged with such high stakes as BPC.
I too believe this will be the final outcome and has been being progressed on all levels for a year now.
GLA.

Morning Lyn.X

Oh Lyn you’re such a tease! X

Seriously though the gut feel is that the price action of the last few weeks is similar to previous seismic events - pun intended, The coincidence of one year ago when I am convinced that the “major” was serious but needed more absolute commitment from BG is significant.

Might be a bit rollercoasterish however by mid year I expect something tangible that we can hang our (proverbial) hats on.
That reminds me I must go out and buy another proverbial hat having eaten mine.
GLA.

Moi aussi mon ami vis a vis le golf.

There is very little stock available and the hordes are amassing.

Just hope this board which has been brilliant lately can stem the tide of the inevitable sycophants who ramp and deramp for a quick buck.

Let’s work at killing them off please when they start - if they haven’t already.
Very good luck to all genuine investors here, we may at last be seeing results.
X

Fairly obvious but you can dust my crystals balls anytime.

And before any boring person says “get a room” this board should be fun as well as instructive,