Member Info for Private_Investor

Off for the evening.
Taking the better half for a drink in my daughters local.
Naturally nothing pre-arranged other that our little drive.
Obviously the car needs a run as it has been sat in the garage for a while....
An hour each way should do the job.

Perks of having a few weeks back in the UK, makes up for the weather!

Happy to hear views

If you feel mocked you shouldn't.
If you feel challenged you should.
It is the same here for blind bears or blind bulls.

Charts have a time and a place, they form a useful part of a toolkit. Knowing when to use them is as important as knowing that for some jobs you need a hammer, othertimes a saw is better.

The sheep who between them have hundreds of years of industry knowledge?
The ones with hundreds of hours of research on BpC?
Or the Wolf who rocks up shouts his opinions as fact?

Yawn.

For many LTH (most of the regular BB posters here) daily movements even weekly movements are of little or no interest.
We have taken positions that we are comfortable with. We can live with the losses if it plays out to zero.
Best of luck to you if your plan is to trade the volatility but you will find most of this herd are not concerned with the direction of the journey just the end destination.

Keep the posts above the line and support your opinions with reason and you will find this BB to be engaging and happy to learn why your opinion has merit.
Post your opinion in isolation and you have all the credibility of the hawker on the sunday market flogging Kalvin Clein boxers and trying to pass them of as Calvin Klein.

Ahhh but is Ralph still Ralph?

Dozens of newbie posters scratching heads trying to decipher the code....

Where are you?
I don't recall seeing a green filtered message in a few days.

Maybe you are just on holiday and have left all forms of electronic device at home?
Enjoy the break.

I should have been more magnanimous.
For those sat on the wrong side of this SP rise I do hope you can get to a reasonable position and take this as a learning experience.

I am sure the same people who are in that difficult position would have wished the LTHs the same had things been different and will be equally magnanimous if the drill result is not positive.

GLA

I believe in miracles.
So to the shorters where you at you se×y things?

I do love the smell of roast beef and horseradish- some time in the spring?

I can't wait to see how the well known derampers twist this RNS to say we are not funded or that we don't have a drill coming.

Quick sell now so the shorters can cover their behinds.

Or do as I do and just sit back and watch them panic

Drill 2 Thomas.
Drill 3 James
Drill 4 Gordon
Drill 5 James
Drill 6 Henry
....
I can't think of the others on the same theme.

You are correct to challenge the funding.
I tried to make it relatable for most when drawing a crude analogy with a mortgage.
If I have an agreement in principle for a mortgage I do not have the funds. Nor do I have access to draw down the funds until such time as there is a named asset (the property to be purchased)

The AIP is conditional upon many factors, affordability, named asset, bank agreeing to the property valuation etc.

The principal of conditional lending agreements holds true for both mortgages and in the case of BPC the CLNs.

University placements are often the same, conditional on AAB you have a place on this course starting on this date.
You do not have the option to start early (draw down on future learning) you do still have the option to look at other universities or even go into the murky world of gainful employment.

Conditional offers happen in many ways.

Sincerely I hope this either helps you relate to the gap between having the funds and having conditional access to the funds. Or helps you decide that at this stage BPC is a bigger risk than you are comfortable with.

It is entirely your decision to be in or out.
There is no evidence yet that being in early will deliver higher rewards - it is conditional (again) on future events.

I wish you all the best.

Suffering fools long enough.
Great advice many others should follow it and FO from here.

Not those probing for details, challenge the board and BB.
Great to have opposing views.
But clearly as Jim said, if you don't like the answer you keep hearing either ask a different question or actively disprove the answer you are getting.

Jimtheknow

A simplified view of where our finances are, and why they are not in a different place.
With a relatable analogy for some that do not see or choose not to see the picture in front of them.

Do BPC want to drill a well?
Yes.
Do BPC have the funds in their hands today?
No.
Do BPC have access to funds that allow them to drill a well?
Yes.
Are BPC ready to start drilling tomorrow?
No.
Why don't they draw the cash out now to allow them to drill?
Erm....really?

Related field.
Do you want to buy a first home?
Yes.
Do you have the money in your bank to pay for a house?
No.
Do you have a mortgage agreement approved?
Yes.
Have you found the right house and got to the stage where a price has been agreed and contracts are ready to be signed?
No.
Why not have the money paid into your account now?
Erm....really.

So, you have your mortgage for 250k ready.
You draw it down (poetic licence assume the bank are happy to lend without it being secured against a named asset) you start paying it back straight away. Not sure what a 250k mortgage payment looks like. For argument sake I will say 1k per month.
You find the house of your dreams 3 months later, bang on budget (250k plus your deposit)
Problem?
You have 247k plus deposit. Grrrr

So, for a secured loan you need the named asset.
For our CLN we have to have various conditions in place.
If you draw the money too early you start making repayments early.

Ok not a true comparison but it might help for the hard of thinking.

Just to confirm flash harry and harryoffdock are unrelated until proven otherwise.
HOD look forward to your return after the RNS.

Playing devil's advocate any thoughts on getting a negative RNS before a positive one?
This is BPC afterall things rarely go in straight lines with BPC.

Have we bought out an ice cream vendor in Vostok for example?

Flash harry buying 7 shares in one go.
That boy has more money than sense.

21-Sep-20 10:00:51 2.675 5 Buy* 0.1321-Sep-20 10:00:51 2.675 5 Buy* 0.13

For some going all in makes a share price move and the whole market pay attention.

For others it goes almost unnoticed.

I think we have both types on this BB.
I will let others make the joke about which poster went deep today.
It wasn't me, I only need 3 more to round my holding up to 5.

Is an odd number of shares to be going through on a regular basis.
Not pointing at a conspiracy or suggesting it is a signal to buy/sell/hold/reminder to wipe ones ar5e.
Just an observation on trades shown here over the past few trading days.

Good to see some returning lth posters. Grown ups if you like.

General thoughts.
Oil price will possibly rebound on the sniff of a covid vaccine. Demand dipped as general consumption dipped, there will probably be a lag in production ramp up if a vaccine happens short term.
If a vaccine is further down the line there is a chance that reduced appetite for frontier exploration reduces reserve restocking. This is likely to create more upward pressure on prices.

Bpc.
If the drill goes ahead - I believe it will and is close. One drop of oil will transform not only bpc sp but appetite for production by the people of the Bahamas. They are in need of alternative revenue and oil could be transformational.

Posters.
I try so hard not to use the filter option but for some it was the only answer. I welcome the knowledge transfer from the posters with industry expertise in any format - I have none of my own in oil. I also welcome the brilliant research work from some posters, keep up the good work.

Caveat.
Always look for additional articles that support the research poster links. The more times that link is supported by other articles the more likely it is to be either legitimate or at least a widely held truth.

Gin.
Sounds like a good idea. I am a fan of the pink fever tree tonic with a good old school London dry gin.

Stay safe, friends, foes and everything inbetween.