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Sepcialist, as my old mate Sir Alan Sugar would say to you, 'not a bloody clue'

Jim. This is a game of chess by BPC between Majors and potential funding presented by BPC as an investment opportunity with huge catalysts for mouthwatering gains in the next 6-9 months. The risks and potential reward for both Majors and financiers are such that there will be a mix of suitors who will want a piece of the action. Sweeteners for new funding by way of options and strong arm tactics being shown to the Majors by blocking their participation creates the right conditions for value.

Retention of 100% of any multi billion barrel discovery would outweigh any equity dilution. You either have asset dilution with a farmout or equity dilution with financing. Potentially equity dilution at 50%, approximately 850m shares, which is what the company is working on will create greater shareholder value on any oil discovery. There is more than one way to skin this cat.

To create the tension with the majors there will be a funding deal done asap.

Empty vessels.

Btw, Simon Potter is the CEO of BPC and knows what is going on regarding the finance.

This is the finance question where Simon Potter answers. 27mins.
https://www.youtube.com/watch?v=aG6q3RbB1oA

I do very well from the markets and make a good living, thanks.

Okay, well, I've been in BPC a couple of years and bought over 1m between 0.48p and just circa 0.5p.

My god. You've lost your marbles. Are you a remainiac?

I would suggest that if anyone wants to know any accurate info about the financing, then please contact Ben Proffitt at BPC.

Kind of goes without saying if you know what's going on. Can't spoon feed everyone.

The Company has also received proposals for, and is presently considering, several other financing alternatives. At the Annual General Meeting shareholders will be asked to approve a temporary expansion of the Company's general share issuance authority, such that the Company will immediately be in a position to take advantage of financing alternatives that may become available, should that be appropriate and in the Company's best interests.

Yes, but you will also know BPC have already received funding proposals and that they are using options at a favourable sp as an inducer to fund at a higher sp. You should also know that If BPC find a farmout partner and the CLN is not needed, then there is no penalty for exiting the CLN, although BPC will still have to issue the options at 2p and 2.5p to Bizzel for putting up the CLN in the first place. Jeez!

Capital markets have already agreed a CLN for £10.5m at 6p or a 25% premium whichever is lower. So a minimum price of 6p. Enough said.

Watch the Oil capital conference presentation. Questions at the end about fundraising. Potter clearly states the 6p cLN is a baseline for further funding and they will look to better it. Can't say more than that. But that is from the horses mouth. markets know Jack until it happens, if it happens. There could be a farmout instead. Dyor.

They will fundraise at 5-6p with some cheap options as a sweetner. The investors will want 2 wells not one, imo, just to cover themselves. If they hit oil with the first target then it will be announced as a discovery and indicate the fold structure is filled to spill. No point drilling further as any discovery will be value unlocking. They will probaly drill a second well at this stage to prove up the discovery which will be huge. Only need to drill c 2000m for the first target, so probably cost about $15m including rig mobilisation for first well, with an immediate follow on appraisal drill costing $10m including rig demob. Then a farmout done on much higher terms for a major to then drill the deeper prospects at their cost. By this time they will know the deeper prospects hold oil. Alternatively if there is no discovery in the shallow first target then it's keep drilling until you hit, or not. Aimho.

Simon potter confirmed in the oil Capital presentation that they will better the CLN raise of 6p when it comes to any funding.

Current oil price and future price affects the chance of a farmin. An increasing oil price improves things.

Previous drills all had oil in them proving there is a source, but this oil had migrated because the prospective traps did not have valid seals. The targets BPC are drilling have valid seals. If charge to the traps has occurred, then they will be filled to spill hopefully.