Petro Matad CEO Mike Buck confirmed that he believes the Exploitation Licence for Block XX in Eastern Mongolia is likely to be awarded in Q2. Watch the full video here.
Strategy pre drill was to hold a long term pot (5m)
I also added a pot to trade because of the SP volatility, I felt I could trade swings. I did not do a Harry and talk the share in the direction I wanted.
My trade pot went from 1m to 1.4m in a few trades, luck or judgement.
I have not been actively trading since just after the Cerp acquisition. Had we seen good numbers on the drill run up or during the drill I probably would have traded.
I did a recent (ish) top up to a round m. OCD. Rather than anything reasoned.
Will I trade swings again - possibly - but not doing it at the moment. Don't enjoy spending so much time at the screen.
Besides I have commission to earn by telling people why I don't like sushi.
50p a sub.
This holiday is going to be in (insert your local deprived community) if I don't get to work.
Horse and dog are both just meat. No moral judgement from me. Given the choice on a menu I would recommend horse over dog. But it is down to personal preference. Just my opinion.
Star. You have finally disappointed me.
I had searched Amazon and ebay for the my little abattoir set.
I normally try to add a little light hearted nature to the BB. I appreciate others that do the same.
There is a big difference between a jester and a fool.
A jester knows he is a jester.
SvS - exactly the kind of post I think we should have.
I think a reasoned discussion on finance would be a good place to start.
I admit openly that the 11th hour financing options had become limited and given the alternative was no P#1 drill and therefore the drill or drop would have been terminal to BPC interests in the Bahamas. On that basis, to get financing of any kind was a success. But the terms were horrific.
Board salary: for the years in the run up to drilling I felt SP was not showing enough to justify the salary. I was happier when his salary deferral and share swap came about, it finally felt like he had skin in the game.
Did he justify his salary? Would we be in a better or worse place if someone else had been at the helm?
I don't think either can be answered conclusively without having been involved in the day to day business.
Stopping short of TD.
given the reasons behind the shortfall to TD I think it was the correct business decision - we were unfortunate.
Had they hit TD we could be having very different conversations. At the moment it is still a bit of a schrodinger's cat.
Over to the floor.
Discuss and debate.
Sometimes a BOD take a direction you don't like, but it could be the best of a set of bad options.
If you do not trust the BOD to make those decisions then it should be a red flag.
I am still invested, I still trust the BOD, even when I don't like the outcome.
Quiet day on the BB today.
Wouldn't it be a wonderful world if we could debate the positive and negative aspects of BPC (there are both) without being hijacked by ramper or deramper types.
(And nobody serving sushi )
I will risk giving it a go.
Lack of financial savvy.
Missing TD on P#1.
Deadlines and delivery dates slipping.
Just a starter.
Drilled P#1 against the odds.
Good near term development program.
Data set enhancements from P#1.
Bahamas license conditions satisfied - extension.
Again just a starter.
Now the big risk on my part.
A set of debate guidelines.
One big positive and one big negative point per day?
Rampers and derampers equally welcome. Research has more value than opinion.
I look forward to learning from both camps.
Ok....so you don't like Starfish. Fine, you are entitled to your opinion.
It still doesn't answer the question of what you gain from posting on this share.
If you are not invested and not interested in being invested here what do you get from posting here?
I don't like sushi. I know, controversial.
How do I deal with the situation? Do I simply not eat sushi or do I stand outside the nearest sushi place telling everyone that does like sushi why I don't?
So, what positives do you get from engaging with a poster you don't know on a share bulletin board of a share you are not interested in?
You have invested a year of your life posting on Cerp/BPC, longer maybe if you are one of those posters who manage to get banned and just resurface under a new alias.
Where is the benefit to you?
If you are not invested here and have no interest in investing here then it can't be financial unless you are paid to talk down the share.
It makes no sense to me.
Now, I need to head out. Lockdown is over and nobody else is going to stand outside the sushi place and convince people to go next door for a subway.
The commission pays for my next holiday.
Some of the people in the swinging Richard contest should treat themselves to a sit down wee.
If nothing else it should stop their shoes from getting wet.
Let me guess, your dad could have his dad in a fight?
Well his dad is Bruce Lee.
Oh, your dad has a tank.....
Remind me, when do the schools go back after Easter.
Good comparisons bully.
But there are two sides to every story.
A man with £1m in his bank is rich today.
However, add in a very expensive white powder problem and a lost city job where he has been marked as a busted flush and that £1m is suddenly not such a strong picture.
Counter it with the ambitious entrepreneur working down the market selling fashion over runs and rejected samples. He has enough to pay the rent this week and next. But he is working on the launch of his online store. For the sake of a name we will call his online store Boo(and to avoid any complaints)Who.
See what I did.
One may have a glorious past and cash spare today.
The other has nothing but potential.
BPC is risky, but there is potential. That is what holds the share price up. Sure, they may be living hand to mouth, but they are working towards bigger things.
Posted just for balance.
Do not invest here or anywhere else without doing your research.
I haven't seen so much pent up alpha male juice since the volley ball game in Top Gun.
Get a room.
One thing is as sure as 'eggs is eggs' when a certain set of names descend on a BB it is a sure sign the SP is going to be active.
Take heart. In the volleyball game 25% of them were goose and we all know what happened there. 25% were scientologists. 25% were pretty much never heard from again and 25% thought they were batman.
Be interesting to see how much of the gain sticks today, tomorrow and into the weekend.
On a personal level I hope it just keeps ticking up.
I had Hope's of a slow steady drift back up towards the 0.7 - 0.9 range earlier today.
Did not expect it to be nudged today.
SP is not the messiah, but if he has found a rabbit in the bottom of his hat then I will stop saying he is a very naughty boy.
David, different plays for different reasons.
Most of my portfolio is in decent divi paying stock or rental property. They give me an income that frees me enough to have a few BPC type shares. They are the ones where you drop a bit of money in, it could be spectacular. Equally it could go to zero.
With BPC it came onto my radar through a uni friend who worked out there as a geologist (not for BPC)
His view was that the geological indicators were all there and IF, and he stressed it was a big IF, anyone hit the sweet spot it could be huge.
Over the years I built up a reasonable holding but had effectively written it off to zero, it was mostly bottom drawed for the grandkids.
After a couple of years of inactivity I added a second pot to trade share as the SP was swinging quite a bit. I just wanted a bit of a thrill from the share.
Is BPC going to give you an income you can retire on? Almost certainly not.
Could BPC give you a once in a lifetime return?
It could, but don't bank on it.
Could you make money trading BPC?
Maybe, if you time it well, but you would need a massive pot to make any significant and reliable money trading BPC at the moment.
It feels as though BPC is trading in a fairly tight range, and has been since the P#1 drill campaign ended.
There was the initial shock drop, a trickle down effect and a period of stabilizing the bottom.
In the last few trading days it has started to look like BPC is testing moves away from that bottom.
I am not calling it a recovery play, just a slight drift off the very low base.
No wild predictions of multiples from me without significant news but a long slow steady climb to the dizzy heights of 0.7 - 0.9 would not be a big shock.
There are a number of LTHs that dropped the stock after P#1 for whom FOMO will be starting to set in. They might not wade back in with £'0000's of holdings that they had pre-drill but as someone clever in a supermarket chain ad campaign once said every little helps.
(Ref Starchild - I had Tesco as a steady divi paying share back then. I feel that pain. Kicked myself a few times as I had been close to selling out a few years before when they were closing in on £5.00. Heyho, some you win, some you learn from)
I am going to hate myself briefly for doing this but will do so regardless.
I am attacking the post, not the poster, I have no dog in the fight as far as you and The Bhoys are concerned.
However, when correcting someone for a perceived lack of English language capability it comes over better when using the language correctly yourself.
Your - possessive. To describe something belonging to a person.
You're - abbreviation. Short form of you are.
Yore - noun. Description for time long since past.
3 homophones, 2 in common every day use and often misused.
I am off to ponder where life went so wrong that I have reduced myself to correcting postings on a BB that have little or no impact on anything.
I will find myself a suitable punishment for resorting to such pedantry.
How much money does anyone need.
That is a brilliant question. I asked it of myself a few years back whilst contemplating early retirement.
When you crunch the numbers and align your wants and needs you might find the number is less than you think.
A steady 5% return from a mix of strong divi paying shares and a bit of property income was enough to convince me.
The lifestyle may not be as lavish as some aspire to but it is comfortable enough and I don't miss the pressure of work one bit.
I try not to make any recommendations when it comes to investments. My one recommendation for the bank holiday weekend would be, work out what future income you think you need, work out how much it takes to achieve that level of income. Work towards it and get off the money merry go round as early as you can. Retirement is something you should have while you are young enough to make the most of.