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Valid question on the license dates, I think it also toes back to an earlier challenge on what constitutes 'an exploration drill' to satisfy the terms of the license?

For what it is worth, and granted I am just another anonymous poster on a BB, I am relaxed at this stage.
Whilst I had no plans to put any more into BPC if the SP dips much more I may have another look at freeing up other cash. Not a word of this to mrs P_I or I won't be allowed out to the A, B+H party.

TruthSearcher:
@LB28 - obviously you cared who owned the brand as you took time to post and contradict me and call me names, Stobart Group cares because I think they value it at over £15m and it must be embarrassing for you to write such posts but I guess that’s for you to figure out in a dark room

P_I:
they were valuing the name (and visual identifier for those who are only exposed to the company by the trucks and trailers they see on the road) at significantly over £15m.
£15m was in the ball park to extend the use of the name. There was also talk of ESL buying the name from STOB. That was multiples of the £15m.

(so that is the answer to the question what is a brand LB28 or at least as much as I can share on a public forum - hope that helps)

it is owned by Stobart Group and used under license by ESL. (for a fee naturally)

Silly question of the day, could this be the start of bringing the split businesses back together STOB and ESL.

Not invested but was a casual spotter when I was living in the UK, still like to look for the names on the trucks whenever life takes me back that way.

Tex2374:
25m buy, MMS fleece the PIs, RNS probably logged already?

That would be business as usual on AIM!

P_I:
If that was me I would suspect a decimal point slip. Mrs P_I would shout loud enough for all to hear so no requirement for an RNS.

before making a decision on taking a punt applies here as much as anywhere else.

brilliant Keith. simply brilliant.

We are not going to be the biggest faller of the day.
If we are I might be looking for an ESL style PIK loan deal opportunity.

big dip today and I feel sorry for those who bought in at a higher level.

if it is an adjustment due to a global pandemic, and outside of BPC control, we are sat with almost the same fundamentals as we were before the dip.
A world class asset about to be drilled.
The risks as I see them, global reduction in travel results in lower short term demand for oil. The pandemic results in a deferral of drilling operation because of rig mobilisation/labour travel restrictions.
Would the govt of the Bahamas extend the well obligation timeline as a result of exceptional circumstances?
What additional funding would we need in place if that was a 12 month deferral? (operational costs for 12 months, Macquarie contract extension, revised drill rates etc.)

Or, and this is the big kicker, is there something more going on in the background that we are not going to like?

Off for a walk. See where we are in an hour or two.

Hi Spirite, no need to clarify. I was in the camp of those who suspected it was a consortium and shared risk play. i.e. Major wanted in but did not want to stand over all of the risk.

I had not considered the exclusivity as a dirty tactic play. If that is proven or strongly suspected to be the case by SP and the board how do things play out now?
If the exclusive partner comes to the table with a viable farm in proposal but an alternative proposal comes from elsewhere on marginally worse terms does the bad blood trump the marginal difference?

question of ego over value. Do you do business with a partner you know you do not trust? Or do you go with the 'better the devil you know' school of thought? Better to work with someone you know will throw you under the bus than someone you are not sure if they will or not?

at this rate I will need another walk to clear my head before lunch.

it was debated long and hard at the time as to if the major walked or not.

One of the theories on the BB was that the major was still interested but may not have had the appetite to go in without shared risk.
What are the thoughts now? single major for farmin or a consortium farmin? or do we hold a line and go alone?
As an earlier poster mentioned the dirty tactic of running down the licence as a reason behind exclusivity is there a possibility that the exclusive partner has seen the data and does not want to share in any way and wants (wanted) BPC out of the picture?

just my thoughts for the morning.

I shall go and have a walk and a ponder.

you can almost taste it.

I suspect there will be a bit of position taking ahead of the weekend.
With speculation and whatever comes out from this evening it could quite possibly see us edge up towards 5p.

If this is all part of the conversation ahead of farm in news release or if it looks and feels like that is the direction tonight it could go silly and fast.

All opinion on my part.

Having previously been in the camp of those that would prefer us to be drilling with a partner I am slowly (and greedily) edging towards the big and brave go it alone play.
If anyone that was around for the original 87p calculation has the basis for that number (there was from memory some reasoned argument to some of it) are they able to re-spin the numbers accounting for dilution and full ownership?
just for interest - not one to hang anything on or to put forward as a prediction, just as a bit of fun.

Bold claim Bonum.
I am sure Uncas' sister (if he has one) is easier on the eye.

That said you did well to come 3rd in the bikini contest at band camp.

welcome to the BB Sibarn.
if it goes as well as most of us hope here you will do very well.
Most balanced or negative tinged posts come from LTHs who have a positive view but view through glasses tinted by history.

We are closer to drilling now than we have been at any point in our history.
We have a clear timetable.
We have funding agreed/agreed in principle subject to conditions.
We have major contractors lined up ready to sign for the drilling programme.
We have reasonable cash reserves.
We have reasonable uptake on the Bahamian Mutual Fund.
We are anticipating multiple RNS over the next few weeks all of which could see significant SP increase.
There is still a possibility until the 11th hour of a farm in partner coming on board.

Some of the Board prefer tea in the morning as they scan the various BB postings.

Expect as the SP starts to move we will get several new posters here ramping and deramping to fit their position. The regular posters are pretty good at picking them out and challenging them.

having spent a while thinking before posting I am still not clear on how this feels.
On one hand I am disappointed that the uptake was not higher given the option price was below the market price. I am also concerned that local officials who may have sway over government decisions on future drilling options have not filled their boots may show that the appetite for tourism still outweighs the appetite for oil dollars.
I am not saying that if the local officials had filled their boots here and stood to make serious profit from the future success of BPC but ....

on the other hand BPC have left the door ajar to the tune of 40m shares at an agreed future price to give Bahamians a second bite of the cherry. We have limited dilution at below prevailing market price.

On balance, this will I hope prove to be nothing more than the next bump on the BPC journey.
Will it influence any buy/sell decisions? Not for me, no more so than getting up in the morning and seeing clouds in the sky.

for fear of being bounced around for asking the question.

Out of interest at what stage without news do those here before the madness start to think things are going South?

for those that believe the single share trade is a signal.
just after 14:00.

Wouldn't want to be out over the weekend.
Only today I think it is a case of wouldn't want to be out overnight (if we are still waiting on the RNS)
For that reason and no other I can see us having a rise into close - unless there is prior knowledge that the fund has not been well received

is there a more common spelling rule in the English language that is not as clear cut as it appears.
I read somewhere that there are actually more exceptions to the basic rule than there are words that conform to it.

Now before we get Eight Feisty Weird responses trying to Deceive remember that I am just an Overweight Foreign Neighbour in need of Caffeine.

agreed petrol and hydrogen are in different leagues.
In terms of domestic settings many households have both candles and flour.
When used (in)correctly this pairing can be quite destructive.
You would be amazed what products people have in the home that are potentially life threatening.

Just like shares, all about risk management.

could be argued that petrol is quite an effective tool for causing things to go bang as well.
Although I think based on the stuff in films American petrol goes bang more easily than the good old empire stuff.