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There is no way the EA was factored in; this SP is far too low when compared with where it has been. Didn't expect the big drop yesterday; presuming a huge buy is going on before a rerate.
Even before today the SP was very low. Now it looks ridiculous that it is still lower than earlier in the week when we have the EA confirmed. Without doubt we are in for a good few days ahead.
Could it be that all the manipulation this morning was to fill that 25m order? And the 5.6m just after
This profit taking and then a little panic over nothing. No leaks. Otherwise in August 2018 the SP would have dropped on the Thursday before the RNS saying major had ended exclusivity was released Friday morning. We'll be back to 5p by tomorrow afternoon.
If you are relying on this imbecile for worthwhile info you shouldn't be investing.
He isn't worth the oxygen.
I think from memory (it was a while ago) that the original drill was scheduled to take 90 days. If we are to commence in April then expect to see a lot more interest in this share over the coming weeks.
It was about offering a slice to the local people; box ticked. The shares have moved on since 2p and can now be offered at 3.35p min. This is a long-term project (as many here know)m so I don't see why there is any negativity about today. We are heading towards drilling that is the only thing that is materially relevant right now.
Any RNS that will materially affect the SP will arrive at 7am to allow the market time to digest it before open.
You will get an RNS about the AGM during market hours due to when the meeting is; and you'll get price extension RNS.
But if you're waiting for the MF update, I'd say tomorrow morning.
The fact that three more days were added to the process for administration is a good indicator it is oversubscribed. No LTH here should be concerned about three days. We've been here for years. What we need is patience followed by Perseverance.
Given the steady rise in the SP, the MF is clearly oversubscribed and people know it. An RNS confirming this early next week should finally remove any doubts over the impending drilling. We should be back at 8p before too long.
Sorry, my mistake. It won't be a Friday RNS. Should be soon after weekend though.
If you look at where we were back in 2011 at 18p, Simon Thompson in Investors Chronicle advised BPC as a buy. Ok, we've been through a lot of setbacks, delays and uncertainty but that all looks irrelevant now because we are heading towards a drill that most of us must have strongly doubted would ever happen. My estimate is that we will get an RNS on Friday or early next week re the Mutual Fund. SP pre-drill 25p-35p; hit oil and it could be £1.
I think it should break 7.5-8p soon, back where we were in August 2018 on this RNS alone. Once it becomes clear that we are indeed heading towards a drill then it's got to be 14-18p minimum.
There won't be another RNS until after February 7th when the Mutual fund closes.
Jim,
Do stay around. You're right, this board is liable to descend even further soon, but there are some of us LTHs who are still interested in hearing considered, informed views.
As for Fatal, he really isn't worth the oxygen.
Today's news is good. We raise money and we drill next year. What's not to like? if we didn't drill the SP is worthless. Now we have long-term potential to go way above where we are now; way above. Any LTH here will know too well how much pain we've endured over the years. So a little bit longer to wait but we are going to (finally) discover if there is oil down there or not. And if there is...
It reached 7.25 last August when the major still had exclusivity. It should go back there. Given the time it takes to get financing etc in place I think the BoD have been working on this for quite a while. Fact is they have half the cost through loan and the option to fund the other half through shares. Now if a major wants a slice then it must be on better terms that BPC can self-fund. Today's RNS tells us that drilling will take place on these terms or better in 1st half of 2020. This is very good news for all us LTHs.
Cannot believe there is still so much negativity about this morning. This gives us the most clarity we have had in years. We are heading towards drilling in a few months regardless. Isn't this what we all bought in for?
The reaction too the placement I think is wrong. Maybe BPC, as part of any arrangement, need to have a certain level of cash in the business to offset risks / delays. What the AG said trumps all of the negative stuff since last August. A deal is close; ;although given that many of us have been here for many years, close could be June.
See a sell there of 980,000. Could be a red day. :(