The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
SPECIALIST1:
Even on the hint of a possibility of a deal this will go through 7p as it would offset the notion that a previous deal wasn't done because BPC's prospects weren't deemed good enough odds.
If the major was / is Shell then perhaps the exclusivity was no longer necessary as agreement had been effectively reached and Shell then turns its attention to completing the MOU with the BG.
VCB2,
On deal it will hit 25p; pre drill 35-45P
In that case, nothing to see here Kev, no point hanging around, eh?
With the high volume and the SP rise, could it be that the derampers on here have missed a golden opportunity?
Spike, if what you say is fact (gosh you're certainly ahead of the game then) and indeed what somm says is 100% correct, then why would you consider buying into BPC at any price? Indeed, why are you (and somm for that matter) still taking an interest in this share?
Spike,
If you're so negative about the prospects for BPC, why would you hold them or seek to buy in at any price?
You are so full of it.
If the government are serious about oil exploration, why would the licence be given to someone else to begin from scratch? The licence renewal is little more than administrative. BPC will keep the licence (remember it has been renewed before) and it's then a matter of what deal gets done to drill a well.
Fair point Jim about another partner needed, or at least being sought.
Maybe what is on the table is an offer from the major to be the sole partner; to provide rig and finance, but in exchange of too much equity. Maybe BPC feels it can get the finance part elsewhere at a more attractive rate; and maybe the major is happy to do a deal either way but had to end exclusivity to allow BPC to pursue another partner.
To those who are actively de-ramping, looking for the 1p level; if the situation is as dire as you forecast then BPC will not get a deal and thus the shares will be worthless. If that is your view then why hold these shares even at depressed levels? For all the hot air on this board, no-one can actually answer if the oil major is still in negotiations or not.
I think Barnaby, you have a point. Ultimately it comes down to how we interpret the RNS.
For me though, a month on from the RNS, with dust having settled etc, I think the only thing we really know is that the period of exclusivity ended. Thus maybe the initial drop of 70% on August 24th was an overreaction. So I'm happy to hold. I actually do trust the board given the steps they've taken and the appointments since 2011 and all the political turmoil that followed the Gulf of Mexico leak.
Anyhow, it's really down to how each of us reads the situation.
Parpaing,
Why are you disappointed that there was no news at the AGM? There was never going to be. Regardless of what people on here have said. That's not what AGMs are about.
What we can take from the AGM is Potter being upbeat. i think that's a good sign; Like the RNS we can interpret it in may ways but maybe the truth is actually staring us in the face.
Parpaing,
What's the point of posting an article that was in the press back in May? It is four months old.
Let's wait and see what the AGM and the next days / weeks bring...
Bigoiler,
Option 2 for me; the major is playing hardball. So BPC retaliate with the 'we're going to talk to other parties now.'
Neptunes,
I think that is right that the end of exclusivity signalled the end of talks. I just wonder is it a case that a deal has been offered and it's a case of who blinks first. The major ends exclusivity therefore signalling a walk away. BPC issue RNs staying they are going to talk to other parties.
I think the major is still around but I don't think a deal is imminent.
Keith,
I was on Interactive Investor until they revamped their website and wrecked it. I have held BPC since 2011 and I want a deal done and to see where this all ends up. I believe that sooner or later someone will want to drill.
I've zero interest in attacking you, but you did stray from making points re BPC to personal insults.
BPC would not have to say that the major walked away because there is no absolute guarantee that is the case. But, and I got back to what I have previously said, if negotiations are still ongoing, and knowing how damaging the RNS would be to the SP and thus long-suffering investors, why did Simon Potter say they are going to engage in broader negotiations?
Keith1,
Thankfully my schooling here in Belfast clearly taught a higher level of English than the academic institution you attended.
Exclusivity period ended on August 31. Whether or not the major walked or stayed is not explained by the end of exclusivity. If you want to wallow in anyone's pity, look in the mirror.
Somm,
where in the RNS does it say that the major elected to cease negotiations? All that was actually said was that they were not going to extend the exclusivity period. So in effect, the major hasn't taken any action, simply the exclusivity period has run its natural course and ended.