Member Info for Linton78

Up 30% and holding so far... i could do with a few more of these collapses in my portfolio.

It’s funny you should say that....

Thanks Royscot - appreciated.

Err... 60 million shares focus the mind mate.

The a*** fell out of the oil market in 2014 to 35 a barrel. Recovery now on, this is a hard sell but not impossible.

I still reckon Potter will bring home a deal.

If your so negative, sell up and move on?

I keep an open mind, but for an asset based option to be put forward by MacQuarie in an RNS, makes me think this is a firm possibility (and now most likely).

If you look at past facilities stitched together by the advisor, companies with low markets caps can borrow large amounts.

They will have to have insurance, latest spec rig and world class operator in charge.

Fully agreed, its been a VERY frustrating wait but the industry is now recovering.

They know as well as we do that it will be game over if they cant obtain funding via a partner or asset based approach.

gkb47 - I should have said that I expect them to announce a funding facility with the advisors as main sponser / backer.

For whatever reason, a farm out has not materialised and I think they realised after exclusivity ended that they just need to get this drilled and will go down the plan B route.

I expect that will mean some dilution for shareholders but BPC retain a bigger % of the drill. They could even provide a rough timetable and say rig on order etc.

Info like this will not go down well with the environmental groups in Florida / Bahamas but i would expect a drill in Q1 next year and expect planning to be already underway behind the scenes. Once BPC sign the term sheet they will have to put this out in an RNS and they game plan is probably do delay this for as long as possible i.e. up until April / May time this year.

If the government see funds are in place and a plan to drill licenses SHOULD be extended.

Just my take on things...

I reckon they will raise funds + extend licenses at the last minute, say April /May.

Lots of adverse coming their way when a drill is announced.

Pageofcups - it all sounds very good. Meanwhile the license obligations are fast approaching, shareholders are still in the dark and the oil price is tanking.

Jim - Lol, I had to ask !!

Specialist - did you used to post as DegsyAlmond ?

Lol.

Daniel - If you factor in size of targets, chance of success, long awaited drill of one of the worlds top 10 oil targets + general AIM hysteria that is certainly achievable - maybe alot more.

Look at the Falklands shares pre-drill. I am told they hit higher market caps but had smaller targets (apart from FOGL) and were nowhere near as ideally located as the Bahamas.

Anyway, lets just get a drill first and take it from there!

GL all.

its holding up over 30% up so far - not really a spike?

Lets have it confirmed in an RNS then.... until then no value has been returned to shareholders.

Jim - Many multiples is the answer :-)

looking more like it - 2m+ buy earlier today apparently ....

back up she goes... !

We were promised a near term update a month ago... so they were either lying or news is coming shortly.

Lol, good examples Keith.

We should have an update shortly...