Member Info for Oldcoaster

Reading the small print we could still not have enough funding even if the OO and Convertible come through in full. I’m taking up my full entitlement but understand why we might still want a Farm In partner before first spud.

The presentation on the BPC website indicates the placing sought up to £3m. so $2.54m suggests it was only about 65% taken up. What a shame Shore & co failed to call yours truly. But what would they have said about Farm out talks?

The timescale for upside is stated as being 6-12 months for farm out . eg not imminent .

All in all the presentation suggests this placing was required as the Farm out is taking longer to happen. If.... .

Even if the Major is ready to enter into commercial Agreement with BPC do not expect it to be unconditional without GoB approval .