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Mate it is not tosh - it is the difference between strategic long term investors and short term traders and good luck to both but make sure you do not confuse the commentary with vitriol.
GL.

Remember this:

An RNS is required :
When unequivocal market sensitive information is available.

I suspect and hope that Simon and interested parties are far too busy to pander to the “I need news brigade” who are frankly simply impatient and do not realize how deals work and take time.
Chill folks it will or won’t happen.
GLA.

Enjoy your hols Jim.
X

MG you MAY be right .
However you are using “assuming/maybe/seems/definitely/worse/may be - all speculative terms and subjective.
Of course this is your perfectly possible valid opinion and bon chance.

Re the “misleading investors” - in no way can BPC have been deemed to being culpable.
They issued a RNS 4 months ago citing exclusivity and they issued a RNS a week ago saying it’s over.
(The rest of the noise is us investors squabbling lol.)
They also have issued a speeding ticket saying market has all pertinent information AND they have NDAs with all parties for confidentiality precluding info release. It is only approx 1year ago that they informed the market of 5 NEW NDAs being signed.
GL mon ami.

The lowest estimate - $60 mill I saw was a few years ago when rig costs plunged due to cessation of Deepwater drilling.
The highest I have seen recently is $120 mill (apart from one poster here who says £200mill which is clearly inaccurate).
You have to consider depth re type of rig and I understand we are shallow to medium depth and my estimate is therefore $100 mill for what it is worth.
I am no rig expert I hasten to add!

Kap I should have added that MQ fee is obviously separate to opex and was funded by separate share issue.

Kap some light hearted thoughts:

The AGM historically is a non event/rubber stamp exercise as there has been little to report for many years.
UNTIL this year!

It is possible that events are conspiring to make this THE AGM of the company’s history!

If Potter is driving this to a timeline particularly for drilling purposes what better DRAMTIC time to announce a done deal than the AGM where he is going to be asked difficult questions after recent activity. Plus timing for drill notification is optimal.

In response to some of your ??? - imo

1A&1C are done deals.
1B - 2majors + BPC equal partners - BPC fund (IIs) approx $10-20mill (dilution). Rest of their contribution for their 1/3rd is $100 approx invested thus far + seismic.

2 - As above.

3 - cash flow: Pre June 17 share issue BPC had approx >$1mill + $3.5mill (issue) + $1/2mill (warrants?) + $1mill (exclusivity) = $6mill. Potter and co have been paid very little in last year and my estimate is opex is approx $2mill p.a pre new Potter remuneration.o
We therefore have enough cash to get through minimum 1 year.
Hope that helps and as I say this a bit of lightheartedness for the weekend (sounds like what the barber used to say!)
GLA.

Cheers Mick
GL & nice w/e.

Yep I have traded any asset that has profit potential.

Cheers boss.
Have been watching MATD and wanted to buy when they went sub 8 briefly recently but missed the boat.
Trying to be patient but fear I may have dithered too long -He who dares and all that.
GL.

You said it all PI enjoy the family that’s the best”share” of them all!

Scully (and Predator) I am interested in your comments to Neptune particularly as you both virtually accused me of lying about being a retired pro trader?!
GLA.

Tomorrow status quo as no news can come tomorrow imo due to exclusivity/NDA.
Do not really do short term predicts except for a laugh - however I think that the shorters will see no news as a reason to slightly test recent supports @ 1.7 ish. Danger for them is if the prognosis I outlined earlier was already well advanced with preferred major then the exclusive major may have already signaled assent and a deal can come any time .
If it lands in any form irrespective of participation stake holding the shorters will be decimated as this will be in the 20s quicker than it went from 6-2 on Friday.
One other consideration is that I believe most of the short term players are now sidelined and the majority of LTHs are hardened vets who have written this off several times over the years ergo they are in for the long haul and want to see oil.
Therefore there will be no stock available - anything then can happen imo.

Spot and fwd and CFD s

Guys light heartedly I respond to your comments re strategy:

I have professionally traded many asset markets over 40 years for some of the biggest institutions in the world and do this for fun now in my retirement.
I did not top slice the following which is why I retired several times from the age of 42 (got bored and was cajoled back)
Cisco
Intel
Microsoft
Amazon
Gold from $300
Etc etc.
Would not normally declare proficiency but you did question my bona Fides
GL.

Yep.

Let’s just say there are 7 digits in it Scully.

When it was 0.5p I was buying the heck out of it!

Guys all imo:

Almost by definition:
There would never have been an exclusivity deal if there were/are not other interested parties!!

My belief is that the BG and BPC (in partnership) prefer a specific major and that is Shell - all reasons said before but essentially Minnis is getting in bed with Shell in several areas and recent deals, relocation of personnel prove that.
Ergo The exclusive major had to muscle into proceedings with some dosh.

I suspect the exclusive major wants to join the party and has released BPC to get the consortium together which I mentioned on Monday.

Communication silence has been deafening including the press who in the last few months of excitement have toed the political line and not rocked the boat. They imo are being told to hang fire still before news is released so as not to upset process.

All spec of course but I am 9/10 years in and bought originally @ 4p and sold @ 21p.
Then bought at various single digit levels with an avg of 1.8p now in size so declare an interest.
I will not be selling any until we drill and see the results.
GLA.

I’m with you PI.
This is an all or nothing bet and not to try with cash you cannot afford to lose as if the worst happens the end game is total loss.
That being said my belief based on recent events is that the major has not walked but allowed a consortium to be built probably with 3+ partners including BPC who will raise funds via a placing in order to fully share in the project.
Unquestionably at least. 1 major has to be involved for BG peace of mind.
If this scenario is fulfilled the sp will initially drop on dilution fears but then will rise significantly as a drill will be accomplished. The more the merrier really as we achieve QED a reasonable piece of some pie at least.
GLA.