Member Info for jaytee41

BPC has announced the ‘cessation’ of its agreement and that the major oil company ‘will not extend the exclusive nature of the negotiations after August 31st 2018’. Accordingly the company has resorted to ‘asset based discussions’ and ‘non-asset based financing discussions’ using Macquarie Bank as their advisor.

This is clearly a near fatal blow to the company as although they received $1m of exclusivity payments during the process, the fact that a major oil company has seen the books and walked away must deter others. When I met with the company recently they were still optimistic, indeed I wrote that ‘ I suspect that the deal will be rolled over for another couple of months’, how wrong was I?

What now? Ten days ago I wrote ‘ whilst the upside is huge there is undoubtedly a possibility of a major disappointment which should enter all calculations’, with the latter happening things have clearly got to change. BPC has a market cap of £35m this morning after a fall of a short 70% and any deal that they could do would likely dilute shareholders even more, this is surely the last chance saloon. Macquarie Bank are about to earn their fee…

Tweet from Matt Walker - "May I just say, not only is AECOM amongst the most frighteningly innovative companies on this planet right now, but they are also some of the genuinely nicest people you'll ever meet."

Back of the drawer for me. Until next time

6p buy 5.5 sell - robbing stunts

If people thought that a major was going to be revealed to Malcy, then they don't really know what NDAs are. I personally think that more was revealed in the last RNS, but Malcy is entitled to his views and imho was a fair blog

Tweet from Matt Walker 2 hours ago - ODI phase 1 extremely successfully completed! Now it's time for phase 2 with a warm welcome to Peter Jay. You're going to love him #VRS

So yet another member of the DIT joins VRS on secondment. Peter Jay's CV is very impressive and he should be a great addition to the chinese project. Great RNS

Agree - but I guess it's the Brit nature of some people. They could win the lottery and still complain. 250K may not seem a lot to a billion dollar company, but these companies didn't be where they are today by throwing money away.

New here. Worth a small punt or not ? More LTH

I can see this happening now that the fervour has gone - I hope I'm wrong but as a LTH it matters not as long as the ultimate goal is scored.

Oh are they on this site now ?

Wonder what the market reaction will be :o|(

Hi there. First post on this site. Couldn't agree with you more FF - Exciting times ahead here.