Member Info for Private_Investor

Loving the positive outlook there Dutch.
that said, it is fair to question the partner choice. Much like Fatal did with the political alignment of Halliburton.
I am more concerned by a financial risk than a historic political one.
I would be surprised if BPC / Macquarie have no assurance from Seadrill as part of any contract negotiations, but it could as other have suggested explain the missed 30/11 date.
If there is a risk I am sure that the team have contingency options in place (I expect a higher cost if there is a back up plan) That could in turn re-shape any expectation to not use the Bahamas mutual fund as a cash raise?

All just guess work on my part.

Brynjon: Stay safe all and keep your feet on the ground. ;@)
P_I: unless you are on a bike in which case. Putting your feet on the ground there will do two things, slow you down and make a mess of your nice shoes.

If however you are on a 'ringdeer' the chances are you are warm, dry, indoors static and in slippers. You may need to put your feet down to counter act the effects the seasonal lubrication is having on your balance.

IK et al, nothing wrong with talking your own position up. We all do it to a degree, I even welcome those who talk up an opposing view to mine, especially if it is well argued and supported by fact/data/reason.
Opinions, unlike a proctologists specialist areas should be thoroughly and firmly examined on a regular basis.

I am excited by where BPC are and where they are going, like a kid waiting for a new bike at Christmas I just hope I don't wake up on the morning of the big day and unwrap a novelty reindeer shaped bean bag. (with bell)

I don't pretend to know if the intent is to buy from the open market or to issue additional shares from those already approved at the AGM.
What I think is that both options are positive. Yes, one has more dilution, but adds to a contingency fund. The other drives demand into the existing market. Both open up BPC and the potential future benefits to the people of the Bahamas.

I would like to see something from BPC on the 30/11 date, was an anything signed off, was it pushed back, if so, a new deadline date? Or, as some have suggested a change in direction from an interested farm in partner?
for now, all is just speculation, rumour, hope, talking up (or down) a personal position.

very good point/question IK.
I assume there would be a break clause in any contract between BPC and primary contractors to allow for an early exit with a penalty should a major step in and take us in a different direction.
Suspect it would be restrictive for BPC as a solo operator to break (all incurred costs to the break point date plus 50% of the remaining unexpired day rate booked for example? )

Off topic comments, nothing wrong with a bit of light entertainment or non-consequential space filling. If nothing else it keeps the BB active. There are other BBs on LSE that I hold shares in that haven't seen a post in months, off topic or on topic)

GL happy BPCers the weekend is fast approaching. I may see if Amazon has a nostalgia section to catch up on old episodes of Pidgeon Street, Mr Ben, The Flumps ...

Jollifant, you clearly know more about the trade, and possibly the trader in question for all I know. But for a trade to happen there is a buy and a sell.
I can't sell £20 notes for £10 if nobody is buying them.
I noted the time the trade was reported vs the time it was made. However, as I am not overly active on CLON I was not tracking the bid/ask by time, so if you are saying that at the time the trade was made it was within the spread I accept it at face value.

I am a small player on CLON (c. 500k shares) with no plans to buy or sell unless we get a massive good news RNS. For me it was a punt and has done OK. For a few short days it looked to have done really well. I was doing no more than expressing sympathy for those caught on the spike.

OK....so not only can you still get those sweepers, you can get a handheld version for sweeping table cloths. I am thinking more of use in a car, or, if BPC comes good for the green baize topped table that will be required in the future snooker wing.

Jollifant - The trade was a sell and reported late. The guy made his money and is a happy bunny.

I would like to be able to sell into a market at a 30% premium for a sizable volume.

those carpet sweepers were brilliant.
don't have much in the way of carpet now but I am sure they would do a half decent job on a tiled floor. off to ebay/amazon....

If I had been the £120k buyer it would be hard to see this correction as anything other than negative. I genuinely hope it plays out well for them but imagine sitting here today knowing if you had bought in 2 trading days earlier or 2 trading days later you would be sat on almost twice as many shares.
They will be cursing their timing if nothing else.
Sure the SP may hit double figures and the investment look brilliant - £120k --> £1m looks pretty good. £60k --> £1m, or £120k --> £2m looks better.

Maybe the buyer has pockets deep enough not to bat an eyelid at a £60k paper loss in two days, it is all relative after all.

Nothing negative on CLON, I am invested (not £120k) and expect when we get positive news the SP will be multiple of where it is today.

not looking so pretty right now.

If the buyer is a board reader, I hope it comes good for you in the end.

Who knows with BPC at the moment.
We are so close to the main event now that 1 RNS could see the SP do silly things

I will be the first to say it this week...I wouldn't want to be out over the weekend.

Trying to avoid passing judgement on the incident or the reasons for why it happened, why the perpetrators of these horrific attacks feel driven to do them. My sympathy goes to all of the families affected. I am glad I have never felt driven to do something so horrific to innocent bystanders.

I had written more on how I think I would react if faced with such an horrific scenario but think it is best deleted without sharing.

a forceful and bitter verbal attack against someone or something.

let me be clear, there was no attack on the poster, purely the post, the content and intent of the post. I do not believe I have been directly critical of a poster even our Specialist friend.
It was or may be viewed as forceful, by those who missed the humour within the post.
However, there was no bitterness.
The post was scripted not verbal.

But, I will let you off. I have a forgiving nature. If you try it you will find you may become an even happier person than you already are.

Fatal, I fear you may have attached a judgement of me as a person or investor to the content of my post.
Do I prefer an ethical company? yes.
Do I think all companies I invest in are ethical today? no.
Do I think all companies that are ethical today have throughout their history been ethical? no.
Do I think as an investor I can have a significant influence on a multi-billion dollar business? no.
Can I invest in that business, make a profit and do ethical things with that profit? yes.

I can do nothing to change past events or the horrors that war has brought about. I can and do use businesses to make money and use that money for the benefit of others, furthermore I take great pleasure in doing so.
Do I concern myself with the investments of others who have polar opposite morals to mine? (I would include both Bush presidents, Cheney and those of similar ilk on the British side of the pond) No, I do not. It is impossible for me to know all of the interests that these people hold. It is also impossible for me to prevent them from becoming part of a business that I have had a long standing interest in.

If BPC have elected to go with Halliburton, I have to trust their judgement. Why would I or anyone else who has been part of the BPC story for 10 + years challenge the board or drop my holding at this stage for them going with a company that may have a chequered history.
Let he who is without sin cast the first stone.

All business that is in business to make profit is doing so at the expense of someone or something else. Be that people, natural resource, environment or other smaller more fragmented businesses.
I have come to terms with this.

Great RNS this morning, good to see the Bahamian public will have a chance to benefit from the natural resources on their doorstep.

Fatal, just to help those of us who have no knowledge on the theatre of war and the goings on there, the players, pre-, during and post combat.
In your post are your interests in Haliburton, Bush, Cheney, the BPC directors, the people of Iraq, the tyre manufactures, the American tax payers, the mafia or the small investors?

My view.
Haliburton acted in the interests of their shareholders.
Bush and Cheney acted in the interests of oil/American interests abroad and at home/small p politics/big P politics/a fathers legacy/global interests/narcissistic interests/a way to lash out/the long term interests of the Iraqi people/many others delete as appropriate.
The BPC directors are unlikely to have had a vested interest in Iraq at the time, or for that matter Haliburton. Whilst it is recent it is also past, if all companies were held accountable for actions in the past for unrelated future events where would UK plc be today?
The people of Iraq have their own voices, there are those who approve of America action and those who disapprove both sides have a right to their view. Long term future will shape how the history books record the events. The loss of life on both sides of active and non-active combatants is an horrific consequence and one which dwarves any financial or political impacts.
The tyre manufacturers, I guess their view will be based on the contract in place. If they had a fixed contract to supply all tyre require that is one thing, if they had a unit price contract I am sure they will not have lost sleep over having to replace more tyres than was strictly needed. Full vehicle with all work undertaken in a sanitised environment vs a single tyre in an active war zone, easy choice for me.
American tax payers, when you vote in a party you do so knowing that they may do things that are not in your interests, you vote on the basis that more of the policies align to your interests than the other sides. When it comes to any conflict the reality is that there is a stimulus to the economy and a trade off in terms of government spend.
The Mafia, they can and will look after themselves.
The small investor, guess what, we always sit at the bottom of the pile. Sometimes we get lucky and win, sometimes we are unlucky and lose. I have never been forced to invest in a stock against my will.

I get the point you were trying to make, it is just that sometimes the message is lost within the vent.
If I am right you are suggesting that when BPC find oil we should give the company to the people of Iraq, the tax payers of America, the tyre manufacturers (but only if they made losses) Pay our dues to the mafia and build a statue in honour of previous American political figures.

Or you are just questioning if Haliburton are the best fit for BPC.
On that, I guess time will tell and we have to trust that the board are acting in the interests of shareholders, if we do not believe that then our money should probably be elsewhere.

and breathe.

I get the holding position part, however, if you look at the numbers some of the majors are throwing out on exploration and contrast it with what they could realistically pick up a significant interest in BPC for on the open market. Even if we say 3x SP it is in the region of £100m for 100%. Not small change by any standards but still only a fraction of what the big boys write off on an annual basis.
If there are as we are being told several majors still in the data room then is there a risk that they may miss out on BPC to a rival, or worse, is there an unwritten agreement between them that they will carve up the asset between themselves at a future date?
Not a suggestion - just exploring possibilities.
There must come a stage - even for a major - where the fear of missing out and the greed of what may be down there trumps the small cost (relative terms) of a near 'drill ready' prospect of this magnitude.

JTK. nice post.
Hope you are right on the RNS as we are in the territory of any news should be good news.
I confess I hadn't considered the duster as a cause to re-licence and bottom draw opportunity, good point.

I know confidentiality kicks in but knowing what was holding back majors would be interesting.
I suspect there would be a variety of reasons.

As long as we don't get an RNS saying they are looking for a farm in deal with Evian.

A bit of chat, some speculation, maybe some old articles reposted.
If we are lucky there will be a balance between the rampers and the derampers.