Member Info for Pacman3311

Yep, I’m not far away from that number either...hey ho..
An even longer term holding now.

And 260/262 would roughly equate to $22..

I was fully expecting this to hold 280 and for any manipulation downwards to fail.
-So, for the moment my expectation is for the move upwards to resume next week following the Feb monthly options expiry tomorrow.
- There does seems to be a clear determination to drive the stock down to as close to $22 as possible by close of play tomorrow ( currently 22.79 as I write ) as per Cedars observation re option open interest at $22.
- Will have to rethink if the fall continues into next week, although my instinct would probably be to add rather than reduce.

The frequency at which stocks gravitate to round numbers on option expiry is more than a coincidence.... it’s not just the metals markets that are controlled by the powers that be....

I will watch and wait until Monday.

Best wishes

There is one positive with WTI near month futures approaching $62, Brent now above $65.
For me the glass remains half full...

WTI now approaching $62, Brent above $65.
Fingers crossed but looking good to hold 280 support even with the stock Ex Div today.
All positive.

Titan, what a nauseating individual you are.
Really don’t understand why you are still posting when you have no interests as a shareholder. So what is your purpose here?
Ah yes, just remembered.... your drinking buddy Fred Smith is paying you to post....

Well summarised PI

Oil futures ticking up nicely, bodes well for another positive day.
Good luck all.

Consider this is to be an RNS well worded and exactly what is needed right now for all of us licking our wounds.
Look forward to further updates.

Starchild; like your comment earlier re Geo Political Govt Considerations.

Thank you Winging it, you are correct and, yes, everyone is entitled to comment freely.

BUT I do find it amusing all of this chit chat over tax implications and the personal numbers being branded about on this forum when it only costs a few hundred quid ( if that ) to get proper advice.

And just to confirm BP goes ex-div on 18th Feb 5.25 cents so approx 3.77p.

Have a good day.

Guys, this is become tedious now reading through all of this.
Speak to your accountant / tax advisor as all individual circumstances are invariably different. You should not be relying on a BB for info.
- The dividend is not important in the big scheme of things, trade the move and don’t think so much. We have momentum and you just have to go with it until such time as you are happy with your profits or see signs of exhaustion.
- For me I am waiting for a test of the previous recent high around 3.10 and will then reassess. Listen to Tacet, he knows what he is talking about.

Best wishes.

Think we all need to be patient now and wait for the next RNS, frustrating though it is, i’m sure there are many plots and sub-plots happening behind the scenes.
Putting Bonum’s ( lol ) technical analysis comment to one side we are seeing some share price consolidation and basing for a swing higher. Oil price strength will also provide support.
In fact in reality the share price has hardly moved since the initial downward move thanks to the wide bid / offer spread.
Anyone selling post RNS would have achieved .75 at best and anyone trying to pick the bottom would have been lucky to buy less than .60
There is simply no point in selling now, let’s wait for BPC to update.
I remain positive.

Sorry, that last post was responding to Rickierich.

China did recently take advantage of Yuan strength / USD weakness to add to their emergency reserves but they will never be a supplier. They currently have an import requirement of c11m barrels per day and rising, always been an importer, the majority of which is supplied by Russia and Saudi.
Of course the Dollar weakness / Oil price strength is only relevant whilst Oil is priced in USD and will become more of an issue as and when China is formally recognised as a reserve currency.

Given the current price of Oil futures you would think the BOD might be smart enough to consider a programme of forward hedging some of the CERP production, would enable certainty of future income and assist with any financing requirements..

Hi Rich Rickie, I’m away for the day but will respond to each of your points in more detail later.
We basically arrive at the same conclusion in that oil prices are going higher but your reasoning needs to be qualified. China is currently experiencing huge growth not seen since the early 2000s and their demand is not going away. Chinese policy has been to allow the RMB to appreciate which means commodities priced in USD become cheaper and the same applies to all non US nations.
Furthermore Chinese demand for Agricultural products is high and sustained to offset the devastation caused by the swine flu outbreak of 2019. So this is not so much stockpiling but required demand.
Equally whilst we are in a period of low interest rates Central Govts globally are committed to increased spending on infrastructure projects and cannot afford to return to austerity.This all requires the purchase of commodities and oil is part of this equation.

All in all it should be a perfect time for Potter to get BPC out of the brown stuff but his track record to date is patchy at best. Oil is going higher but whether or not BPC is the right investment vehicle to take advantage of this is another question? Hence the importance of BOD guidance in the next RNS.
Have a good day mate.

Final message for you all to chew on.
JP Morgan last week produced a very interesting report regarding the start of a new Commodities super cycle and one of the key takeaways from this was a forecast surge in commodity and more specifically oil prices starting from mid March.
We can already see evidence of this when looking at the CRB index ( basket of commodity prices ) which has seen a recent cycle low and now trending upwards, prices have increased across most Agricultural products and also Precious metals less Gold & Silver which are heavily manipulated but will probably join the party soon....This combined with a weak Dollar will only accelerate these moves to the upside,
My point is that it could be that Potter is already in discussions with a number of interested JV parties and given the forecast increase in POO may well have hit a sweet spot in terms of deal timing. Any potential Major will have similar price growth projections and may well be more amenable to a deal.
Yes, my glass is half full but I think it is worth hanging on for the next step, patience is a rare commodity and i for one am finding it hard to hang on, but hang on I will.
And, Yes, I am looking for an exit but not at this price, I am already down in excess of six figures..

How can a proper judgement be made given the current info available to us as shareholders?
Was the RNS just a means for the BOD to buy more time or are there factors of certainty we don’t know about which just require finalising before disclosure? The answer to this is critical and will materially effect the share price.

- So, go back to the original reason why you invested?

For me it was the potential multi bag opportunity of a successful drill outcome. The CERP assets whilst potentially useful don’t offer the same attraction as the thrill of the drill.. If the BPC strategy is to morph into a producer then this will become a long term play and there are far better investments out there with credible board members and which also pay a dividend.
I am certainly not going to hang around unless I can see a clear path to profitability, and after so many twists and turns over the last 12 years I don’t have the mental capacity to take much more.

Hence my focus on the detail of the next RNS, the longer this drags on without communication the more suspicious I will become. Any pre agreed deal with a JV partner basis drill data criteria should be disclosed fairly quickly, as maybe all that needs to be sorted is the approval of the Bahamas Govt?
This is my hope anyway and we shall see.
Enjoy the rest of your weekend folks.

Agreed, prior to CERP there was a clear strategy focused on the Bahamas only. Clearly there is only a finite amount of funding possible without asset monetisation and maybe CERP has created confusion, equally the opposite view is that CERP did provide a hedge and a means to continue as a going concern upon any failure of P1.
The reality is that we don’t know and we need the BOD to provide some detailed clarity and soon.

Yep, nothing wrong with IG and they’ve been around for a long time so any funds held with them should be safe.
The paperwork required to trade derivatives is by nature more detailed due to potential misunderstanding of leverage and margin.... can be very destructive if you don’t know what you’re doing.
Good luck anyway, it sounds like you know what you are doing.