Member Info for MaltLoaf

As international companies, (including Russian) are are involved in exploration in nearby Cuban offshore waters, it makes you consider that the BG have to keep aware of diplomatic issues when dealing directly or indirectly with a major. The BPC may be BG's prefererred interface, filtering the good from the bad, and in turn helping BG with in what could be a potental diplomatic minefield (excuse the pun). The BG may also prefer the desired JV farm-in options with BPC , rather than directly with a major that could potentially tie them into knots and exert influence through indirect pressure. Speculation, I know, but just thoughts on the complexities of this region.

Scully & Longside, thanks for some clarity on that. However, technically both parties are considered 'Insider's' (right?) and contractually bound to confidentiality. The notice given could be considered as within the parameters of 'exclusive nature negotiation'? I. e. Would the major have been contractually bound to insider confidentiality to the exact end of agreement date? And therefore BPC would not be in breach of market sensitive information rules by sitting on this until the 31st (if all parties involved are bound to insider confidentiality? Anyhow, contractually (see RNS) the 'exclusive nature' of negotiations remains official until COP Friday 31st August. GLA

Was there any obligation for BOD to release an RNS notifying end of exclusivity with major, one week before period officially ends (Fri 31st August)?

Scully, I agree - certainly fishy. Is it normal for only 10% of shares to be traded after a bombshell RNS like this mornings? Whoever holds the other 90% are either asleep, indifferent or not perturbed by this latest development?

Are those involved in grant Environmental authorisation bound by the same insider rules? Would those EA officials & BG personnel & Bahamian nationals hold their own BPC shares? Not too far fetched? Maybe the BOD are playing this, hurting pockets, staving-off greedy officialdom and motivating immediate action.

'Self-generated issues'' : sensitive description! A cynical observer may have suggested that JTP was the 'fall-guy' (securities for loan debacle), driving the sp down to a profitable placing entry point for Bergen.

I think it is fair to comment that the Angus BOD have absolutely no regard for PI's. Regard may have shown by making an open offer for qualifying shareholders to buy at the low placing price. Instead you have Bergen and a BOD which treats PI's as mushrooms while the insiders can scheme in the back rooms.

Back on the 8th, as approval from SCC was formalised, the shares in issues was 325m, with new placing shares (56m) then added, totalling 381.722m shares in issue. As it was generally accepted that the the rise was in anticipation of a positive SCC ruling, the current SP (after dilution of 17%) on no immediate news was predictable.

...to read the angst of rainbow chasing latecomers. Where were their balls sub-5p?

Based on the shares in issues increasing by approx 56m (new total approx: 380m shares) the market cap would have to rise by approx 17% (+5m = approx mkt cap: 35m) to absorb the new shares and maintain the current SP.

......as vast as space and as timeless as infinity. It is the middle ground between light and shadow, between science and superstition, and it lies between the pit of man's fears and the summit of his knowledge.This is the dimension of imagination It is an area which we call the 'Twilight Zone'".

'For your own safety', does sound like a very subtle threat. Sadly there are too many bully boy types clogging this board up.

In the US, 700 million barrels of oil are stored underground in many varied locations, as strategic emergency reserve. Initially this was drawn up in response to lessons learnt from the 1973 Oil Crisis - Arab states oil export blockade reaction against US support to Israel. The EU has its own strategic reserve, to which the UK belongs. This protects the EU states against meddling interference from Russia the Middle East. It holds the bully boys away (be that Trump or Putin!), protects economies, protects well being & quality of life for EU & UK citizens. Freedom & quality of life for Nimby's, Brexiteer's, Remainders & Eco-Warrior's alike is maintained by the protection of our economy, infrastructure, government & miltary, under-pinned by strategic reserves. For all sorts of political pandering reasons, this Government does not openly endorse the Weald exploration.......Yet! It will appear very hypocritical of the government to not get behind the Weald players at this juncture, given the potential of the future benefits. A proven reserve in the South of England should be of massive strategic importance to the Government, as the parameters to our existing liabilities/ EU are redrafted.

Trading should be suspended until there is some clarity on these recent events. The words fraudulent, insider & loophole come to mind.

The traders stabilizing the sp, while the big players are moving in?

Approx 700% rise needed to get back into 30's

Yes the same sort of tough jail time experience by the likes of Jeffery Archer & Jonathon Aitken. Cell room thermostat set on 20 instead of 23C

As historical artifacts go, return tickets for the Titanic are probably very expensive fo purchase, but these shares are now worth totally Zilch! If you are a LTH, YOU are responsible for a poorly calculated decision to hold to the very end (and so later-comers, very mush so). The high-risk facts WERE clearly headlined in the months, weeks & days up to Monday 15th. The shareholders are now at the far back on the line here. The priorities here are workers jobs, Pension schemes, workers, lenders, contractors and suppliers? The directors, management, government & banks HAVE been totally incompetent here, but would a future public inquiry reveal this and when (what year?)? And if so, the shareholders will still come last. If you misjudged this big-time, you also have something in common with winners - they also make mistakes, but process that into a positive lessons and don't take it too personally. Winners become winners by dealing with failure and then striving forward. So chin-up you are in good company. But now its time to leave this crap behind and move forward.

What happens to short positions when liquidation / administration happens? Is it the shorter or broker that loses, or both? Anyone keen to elaborate?

The debts & liabilities were carillions, but the stripped assets will be handed (wink, wink) to those who waiting slyly in the wings, I.e Balfour Beatty & Kier, et all. This lumbering beast has as been dragged down and the carcass ripped apart. The government has been totally complicit in this. 2 points: Why did government allow Carillion to virtually monopolise on contracts? If the government is now banking rolling completion of loss making contracts, weren't they prepared to agree funding during talks?