Member Info for jimtheknow

PI, why do you think you’ll get abuse for your post? It’s very good and fair, nothing wrong with that.

As you mention a ratio may be stated in the Open Offer but they have said people will be able to apply for more and I highly suspect they will take everything they can get should there be an over subscription. If the spread comes in tight and we stay close to 2 have you thought about selling a few and buying back at 2p? I know this isn’t the hardcore money man approach but it would allow funds for drilling to be accrued whilst keeping your exposure virtually the same.

Jamins, welcome to the board.

That is exactly the point. Some people can’t see past the end of their own nose. It is far more of a risk to existing holders to buy on the exchange to supplement their holding in the hope of grabbing ‘cheap’ shares than it is for that existing holder to partake in the Open Offer, it is not logical. Also, the Open Offer will probably not incur any fees to the buyer if saving fractions is someone’s intent.

This share is range bound now. Only some clever caveats on the Open Offer will break those shackles.

For clarification.

Existing holders should not be supplementing their holding unless participating in the Open Offer, they should now not buy on the exchange unless they are worried a ratio limit will be placed on an individual in the Open Offer which is unlikely in my opinion. This should have been obvious but is now stated for clarity.

People have questioned why the drop in sp today?

People with large holdings will have chased the sp down today by selling to the Open Offer price so that they can raise as much money as possible to buy back into the Open Offer and ensure as much money as possible goes into funding the drill. This attempts to ensure the project is successful and therefore protects their overall investment.

Existing holders should probably not be supplementing their existing holding unless they have deep pockets as this is futile to the projects objectives.

New entries to the share could see significant gains on their entries if the Open Offer is successful as this should ensure drilling commences.

New entries could further participate by subscribing to the Open Offer when in, if this is your tactic then leave some in the locker for this purpose e.g. 50/50. Remember, it is in every holders interests for the Open Offer to succeed.

....funds into your IG account immediately or we will be forced to close it.

Squeaky bum time.

Thanks IK

Thanks Ian

IK, did you do the 3@3 or was it really you with the big after hours trade? If you didn’t do the 3@3 then it looks like we got someone else interested in the fun :-)

I’m not bringing into question your integrity but I know you often bring a lot of humour to the board and it may just have been a coincidence with a bit of tongue in cheek based in the previous days trade.

Snap. Tried to get it bang on 3, think I did.

I shall partake then.

Would anyone like to participate in a bonfire? At 3 o’clock would people be interested in each putting in £3k just purely in the knowledge that every percent rise in sp the special case burns just that little bit more today.

Wasn’t this article written by that silly boy who had 3yrs trading experience and openly stated he’d had a tough journey and wanted others to learn from his mistakes. I’d put an emoji laughing face if I could.

This again is another piece of half truth, semi accurate poor reporting e.g. the 11th Oct is not set in stone and is movable by mutual consent. If the apparent systematic attack had not happened this date may have been met but it is very excusable for this to move now.

The date these incompetent reporters should focus on is the November date from Bizzell, that is less negotiable as it may start to impinge on equipment and material lead times should it slip significantly. However, as is often the case, Bizzell have the right to waiver any conditions on the loan so criteria could be relaxed.

I hope this boy closed his short position when he could after writing this and took his profit, or was he part of a greater conspiracy that fuelled the selling frenzy? We will never know. To be fair to him he did say he was short before the bear run started.

There’s no excuse for his sloppy reporting though and if he put some serious effort in here on BPC he might have develop the minerals to write a positive story about BPC and then who knows what would happen?

It’s so easy to write a negative story, much harder to look for the real qualities. The reason this doesn’t happen is because the latter requires knowledge of the industry in hand which these commentators often lack. Would be nice to be surprised by one for once.

I notice that Funkateer account has been pulled and all posts removed. Actions do have consequences when you skate very close to the line of what is allowed and potentially defamatory.

It is my belief this share was subjected to a coordinated systematic attack which then started a chain reaction of trades as the ordinary man tried to protect himself.

Anyone who has followed this company with intense scrutiny over the years, as many on here have, know there are no lies coming out of the company.

There has been a huge amount of inaction, procrastination and very little in the way of communication from the company but lying is something they have not done. People who make these accusations should not be trusted.

As far as fundamentals go for a junior explorer this company has some of the best. Invest in facts, invest in people, invest in the project.

IK, apologies. It must be the heat, I thought I saw an oasis placing in the desert of news whilst travelling on the camel of contempt. When I got there it turns out the placing was a mirage and stood there was a wise man who said if I keep travelling until Wednesday, or maybe Thursday, I would find this placing. I travelled as the wise man said but there never was a placing after all and it was all lies. #F*****GLIAR

Sorry, I want to start a new thread.

Where are the lies from the company? What have they done that a junior oil explorer should not?

The only accusation at the moment is that they pulled the placing and we know they did that because they believed the final offer was undervalued. If that story hadn’t have ran the placing would almost certainly have gone but once there was a run on the share they pulled it. Why is that controversial?

With respect to news issued BPC have treated shareholders with contempt and it has infuriated many of us on this board, but not once can I recall any exaggerating or lying.

Even the potential billion barrel resource is fact. This is enormous!

This company is looking to drill for oil in structures we can see and almost touch. It’s not in the business of sub prime loans, LIBOR or cryptocurrency. It is trying to drill something tangible.

MasterBlaster, what exactly are the company doing to talk up this share? The only thing I’ve seen from this company are:

2D & 3D seismic studies.
Framework agreements with industry providers.
Oil sample analysis.
Subsurface geological analysis on fracturing.
Various competent persons reports.
Estimates on oil in place & that recoverable.
Environmental studies.
Regulatory applications.
Financial terms on royalties.
Advancements in financing options.

Please tell me which one of these are superfluous to requirements for an oil exploration project? Just give me one. The above are facts.

Also, please show me one example where BPC have stated there’s definitely oil present in commercial quantities and anyone who invests is going to be rich? Never ever has this happened.

As far as new frontier oil exploration goes this has some bloody good fundamentals at this moment in time. Only people spreading malicious fear is holding this sp back now.

Funk, welcome to the board, almost alway good to have new views and opinions challenging those of the existing, however, there are some special circumstances when these aren’t too welcome.

From what you say you appear to me to be what I would call a money & markets man with no specific in industry experience, other than the financial one. Although I’m sure that allows you to earn a good crust I feel it limits your view of the world. It’s good you’ve made some money here and fair enough but I’m not sure what relevance that has to BPC going forward.

To me people like you seem to be focussed on getting in and then out of shares but it appears you don’t appreciate some are in it for the long game. We want to see a drill(s), we want to see this go from junior explorer to mid tier company, we have a strong belief in the qualities and metrics of the assets. Do you accept that thought process?

As for lies. I can understand after many years of stagnation with this company belief in it and the people is low and it’s each to their own whether they believe in the integrity of those people. However, things have and are changing with this company which are completely new; frame work agreements, windows if opportunity and deadlines are now very real with compliance to dates now a must. I believe that TW was probably reporting what he had heard but I also think he was over-stretching his limits and being totally irresponsible in reporting something that had not yet happened and was not illegal. He will have known the gravity of his comments. But for him to come out and use expletives in relation to the lying, did they really lie or just do the right thing by shareholders after the run on the share? If it’d have been a bank then withdrawing deposits would have kicked in. I consider this a complete lack of professionalism on his part and it makes me wonder who is really lying and who has ulterior motives. Those in glass houses....

As we all know the biggest stumbling block now is funding and arguably always has been. Progress is being made here but it is meeting significant resistance from market players. I believe if this resistance is cracked by some clever way this could be another SOLG type situation. Why not?

I have no idea whatsoever on how this will be funded but how about this. If a farm in isn’t secured how about an institution or high net worth individual takes a 33% share in the asset for £’x’m and it funds the campaign? After all BPC is worth around 30m and as it stands it’s just a collection of licences and data.

If this happened, with virtually no dilution we’re away and so will be the share price. Again, a self fulfilling spiral upwards.

I can understand the boards resistance to giving up a share of the asset to anyone but an oil company but it’s better than a fire sale of shares.

The company have not lied this week, they’ve just looked after their shareholders for once.

Bring on the farm-in I say!!!!

There’s no question the appetite for this share is there, it is only people’s greed in trying to maximise their holding by selling into a potential lower placing price, fuelled by project Fear, that knocked it. A lot of people have dry powder waiting to get in on this.

I don’t think people are too worried about a placing at all, we all know something is coming, it’s simply the uncertainty around it. If a tiny bit of clarity were gained this would be a self fulfilling spiral upwards to a more reasonable valuation and a more ‘normal’ sequence of events would ensue I think.

It would just take a tiny tiny scrap of info. If anyone is genuinely short on here you must admit to being a little nervous, sentiment is moving away from you position now. The sp is slowly creeping up. If it breaks the 2p resistance I’d say you’d have had it, people won’t want to be out of this much higher than 2.5p I’d say so it’ll pass it in a flash and then a fund raise at 2p becomes a possibility and then we’re off drilling for only a 500m dilution. Squeaky bum time!!!

I wonder what tomorrow will bring.

If the board say they have a better offer on the table, via an RNS, then it is undervalued isn’t it?