Member Info for Phoebus

Still less that 50% of pre covid levels.

If the drill is a success there is huge follow on potential. The 4 strutures combined are estimated to contain 2.846 billion barrels of recoverable oil net to BPC on a P50 basis. Even at this stage I would not be surprised if someone decides to farm in.

https://www.bpcplc.com/wp-content/uploads/2017/06/bahamas_petroleum_company_plc_-_cpr_july_revision.pdf

Indeed. The structures look astonishingly pronounced on seismic and cover a very large area. COS for certain intervals is a high as 35% which is excellent for this kind of drill.

4-5p range does not look far now. Might even see that by next week. GLA

We always knew BPC would make a monster move when the time came. Market cap only £62M with a drill target of 700 million barrels P50 net recoverable. Excellent.

PME RNS LOL. Nearly fell off me chair.

Still in auction. I see JOG also doing well today.

Mav, it's just how BPC rolls. Check out the 5 year chart. Happened many many times before. This time drilling is a go, so move could be far greater and faster. GLA

has only reached Yokohama station. Next stop Odawara.

£10K's a nice chunk. Best of luck.

What are people's thoughts on market cap and SP in run up to drilling given the target is 700 MMB P50 net recoverable and excellent COS? I've seen plenty of explorers reach £200-300M market caps in run up to drilling on targets far smaller than this and some reach over £1 per P50 net recoverable barrel prior to drill results. £300M would only be 43p/barrel, which sounds perfectly feasible. This could definitely reach 10p+ in the run up to drilling IMO. Huge upside given market cap and size of drill.

Are there any P50 and COS figures avaiable for the targets on the Canje block? Thanks.

after retracement from all time highs in nearly every currency. Markets done a great job of running the stops in the PM sector. All part of the consolidation before moving higher.

Exactly. Even at only £1 per barrel BPC is a 15 bagger from here. Target is THAT big and an excellent COS too. One of the juciest drills in years on AIM.

Any positive update from the company re drilling or rumours of a farm out and this will go into orbit. Somehow it wouldn't surprise me.

Just need to let the 2p round number sellers out and then we can start the real move north.

With a 700 MMB target and an excellent COS do you really want to risk being left on the sidelines? Thought not. Nor does anyone else, especially at only around 6p per barrel at these levels.

Even with dilution the upside here is immense given we're only say at around 6p/barrel for a 700 MMB P50 well with an excellent COS. Having hit 2p we're quite rightly getting a bit of consolidation ahead of the next leg. GLA

Conversion price is north of here though. Need to move SP up significantly and create huge volume to work their magic.

Yet not enough volume or high enough price to convert the funding facilities. SP will go much higher and draw in a lot more buyers for precisely that reason IMO. Expecting 4-5p.