Member Info for Private_Investor

Every day I get a little older.
Some days I get a little wiser.

One day, if I live long i will be old and wise.

In BPC terms, there are things we know, P#1 did not prove commercial. P#1 did prove the existence of HC. The drill was stopped short of max target depth. Some issues encountered whilst drilling. BPC are either directly or through genesis indirectly in conversations with interested parties. There has been mention of major/super major.

There are also things we do not know.
Why did the drill stop short? Funds? Results? Another drill problem at terminal depth? Request from major? Request from government?
Non commercial at $50? $60? $80? $100+? (POO)
Nature and effect of the drill problem? Drilling only impact or financial impact over and above lost drill time?
Commercial discussions, Bahamian focus or BPC focus?
Partnership or rescue?

These (and so many more) questions when answered will make me wiser in terms of BPC.

Till then it is speculation and opinion, ramper and deramper. 95pct noise 1pct comedy 4pct research at best.

Appear to have called in and cleaned up after Harry.

Probably not enough to scare them into dropping proceedings, but enough to find out if they are doing more than just fishing.

A JR with nothing to lose vs a JR with skin in the game.

There are enough HNWs to cover costs without batting an eyelid, i think that the money will be forthcoming if either they genuinely think they have a case or if they fear BPC will be drilling again in the not to distant future.

Now the kicker, if they halt proceedings now does it damage/preclude proceedings for the same case if/when BPC are ready for P#2 drill?

Arguing in the playground (long enough ago to be relevant to the protagonists on the board)

One says their dad is bigger than the others.
The reply, their dad beat chuck Norris in a fight.
The last word, their dad is bruce lee, wrestled a bear, punched a shark so hard all its teeth fell out, did a parachute jump in the RAF using only a Sainsbury's carrier bag as a chute.

They are children it is to be expected, shouldn't be any children here.

Mr smoke and mirrors has stated they are selling.

Thanks go to JimTheKnow.

BPC, it's not for snowflakes.

I love it. Best post in weeks.

Tiburn. Point 4.
All questions from me.
Good idea.
However I reserve the right to ask the odd daft question just for balance.
Questions like, any idea why non-invested people and people who have stated they will never invest in BPC clog up BBs?
How fully funded is the biscuit tin?
Did Leo know the drill result before transferring shares to his wife.
Did his wife dispose of the shares before commercially sensitive information was in the public domain.
Can Harry be elected to the bod as the voice of doom.
Can we get a media savvy well drilled professional presenter for future events.
Can you reconfirm the biscuit tin is fully fully funded.

More sensible questions may also be asked but they will get shouted down and drowned out on the BB by either rampers or derampers. We all know the big questions anyway so no benefit (or comedy value) in posting them.

My application for presenter in chief will not be forthcoming. Nothing I say can be taken seriously with my lockdown hairstyle.

One of the things we know:well progress (rate of penetration - ROP) was hindered by extensive, very hard anhydrite seal lithologies, which caused significant vibration to the sensitive bottom hole assembly (BHA) and measuring/logging tools, and a mechanical obstruction in the hole at around 2,400 meters which required side-tracking around. One of the things I would like to know rather than speculate on.Nature of the mechanical obstruction. Another thing we know.Oil found, just not in commercial quantities. Big structure, 80km, roughly London to Brighton. How many structural traps along the length of interest?Probability of hitting the optimal location?Probability that the optimal location pre drill was financially within the grasp of BPC?It would be nice to get a more detailed story from the company, I would not be surprised given the history if bits of updates are released that create interest in the share. Nothing like fanning the flames prior to a funding call.Could the entire structure have low saturation levels that prove the total volume to be in the billions of barrels and still not be commercially viable?Or could a second drill (preferably with a major involved) to a more expensive better potentially viable (deeper or technically more challenging location) unlock the frontier development to a commercial production location?No idea, just questions on my part.

@HH
I took quite a haircut with BPC. In hindsight maybe far less on P#1 as a result of CERP than I had originally signed up for.
I went into it with my eyes wide open.
The business changed with CERP but I had the choice to stay in the game.
The business changed again with the P#1 results.
Again I have a choice to take back something or stay and play.

My point if there is one is that even after the wheel spins and we get a bad result we all have the option to jump ship with something. Try doing the same in an actual casino.

To those bemoaning loses, it happens. It is horrible. It is however a valuable experience. After you first couple of kicks you wise up and play safe with a % of your pot, blue chips, divi players, slow steady growth shares, property etc. Only throw at AIM what you can afford to write off the moment you buy in.
Don't let greed and a good yarn drag you in deeper than you can stomach. Sure a 10 bagger on a few hundred pounds is not going to be life changing a 10 bagger on several thousand could be for some. It is nice to be in a place where your losses don't keep you awake at night. That is worth more than the odd big win.

@hereshoping

I have time to spare, perks of early retirement.
I think it is a pretty apt version of events at BPC.
But to each their own.

Man walks into a casino (substitute man for any preferred gender assignment)

Sees a roulette wheel and investigates.
18 reds
18 blacks
1 green. (European table)
Looks at the betting options.
Red/ black. Maybe. Not the biggest risk reward play.
Dozen or column bets. More interesting, 1 in 3 chance of winning (ok 32.4%)
Now. The casino is feeling generous. It offers 10 to 1 on the column.
Our hero is in.
The bet is placed.
The wheel spins one way. The ball the other.
Then, something strange happens. 18 orange numbers are added to the wheel. They are added as a 4th column, if it lands in orange surely there can be no winners.
Our hero is outraged and complains.

The house offer him choices.
Take back 80% of your stake and walk away.
Or, stay, with new odds. 80 % of your stake at 10 to 1 odds.
Plus, after the wheel stops if you haven't won a return of 30% of your original stake. Or the option for a bonus spin with that 30% stake. If it lands on orange it is a variable payout of between 30 and 150% of your original stake.
If it lands on red a variable payout of between 50 and 400% of your original stake. Same for black.
But, there is a catch, we are adding 17 more greens.
If it lands on green you can have 5% of your original stake back now, or a variable amount back with no upper or lower bounds but with no disclosed timeframe.

And that my friends is BPC past present and future.

Our hero has now undergone gender reassignment surgery and is not conforming to traditional gender groupings.

I didn't read every post yesterday so forgive my incomplete knowledge.
Other than yourself Apa-Mures who else was suggesting 0.4?

Not sure what you are reading into my previous post.
Something clearly has offended you in it.
Was it my olive branch to all genuine posters?
If I have used terms loosely it is because I know no better, shorting in general is outside of my remit.
I took a haircut on BPC just like many others, but, I have no bitterness. I invested based on what I thought I knew.
I alone pressed the trade button. I am responsible for my losses just as if it had gone the other way I would have been responsible for my investment choices and would have been equally magnanimous.

My fight was and is never with other traders. In the case with BPC it was with nature and the presence or otherwise of a working hydrocarbon system at the P#1 drill site.

My struggle with the BBs is disingenuous posters of any persuasion rampers or derampers who do not have the stones to be honest enough with fellow posters.

I do not care if a poster makes their living from short trading. There is a market for it, whilst it is allowed, far be it from me to deride someone from being smart enough or brave enough to trade it. Should it be allowed is above my pay grade.
Where I do object is, and always will be, in dishonesty for personal gain. For some, moral fortitude is worth more than a few extra coppers to rub together.

To those who silently went short and have found themselves on the wrong side I hope you can close out and move on without much pain.
To those who went short and came on here to trash the share in the hope of creating more negative sentiment so you could make a quick buck, unlucky.
To those with no position who came on to stir negativity in the hope of trimming a little more off the SP it is decision time, jump in or move on.
To LTHs who sold out on P#1 news I have no advice, you will know if this RNS is enough to change your mind.
To LTHs who stayed in, not quite the rabbit out of the hat but at least we know there is more to come in the show.

Zag, you are entitled to your opinion on any poster. Me included.
You challenged my note on the choice of P#1 as a location, anyone who had done full research would know it was from company presentations. Must be 3+ years ago where they detailed out various structures observed from the 3d data. The largest prospect, arguably the first that would have been drilled by a major was beyond the financial grasp of BPC.

Zag I am not sure I would class the 3 you have mentioned as rampers.
CoMan offered technical insight and interestingly stopped posting at the same time as the Icemax got to the drill site.
I don't know, but I do suspect, he may have been more connected with the drill than most.
IK has been here forever but like many more reduced posting frequency as the new posters turned up around pre-spud and the petty bickering started. Many of us still invested here have no desire to be part of the pathetic circus that springs up when a significant SP event is coming. The drill was always going to move the SP and many professional traders turn up to talk the market the way they benefit from the outcome.
I have not had much of a detailed exchange with willec but don't have them flagged mentally as I do many others.

Gino2903

Best of luck with your strategy, nice of you to share.
Never had an issue with short term traders or indeed shorters who have been open and honest.

(Personally not a fan of short trading but I have learned from shorters in the past and avoided further losses where one directed my research before now)

Still here.
Waiting for next RNS to decide if there is life in the share S/M term. If not it is decision time, bottom draw, or crystallize the loss.
5m were intended as a future nest egg for grand children.
2m in my pot to play. (Which had been split mentally as 1m hold (FOMO) and 1m to trade in swings.)
Of the 2m, 1m had been a top up approx 18 - 24 months ago, 400k had been free from trading and 600k a more recent top up around CERP acquisition.
Av just below 2p.

Cathartic.

If there is life S/M plan is to try and trade out the loss from the 2m pot as best I can. No FOMO set aside for my trading pot. 5m to sit and wait.

My strategy and yours should be different, our circumstances are almost certainly different. Do not take my strategy as advice or a recommendation.

Gino, if you are not concerned by insider dealing you should be.
It doesn't matter if that was BPC or BP. Insider dealing causes reputational damage long term. To the business, the individual trading and the investors who are effectively playing against a stacked deck.
If the stacking of the deck becomes systemic and not clamped down on the inflow of cash to support legitimate businesses will dry up the markets collapse.

If there has been any insider trading in BPC, and as yet there is no suggestion of any, any findings against either an institution or individual would not benefit BPC holders.

Company has £x m in the bank with a looming deadline to drill having spent years trying to get a farmin deal. Farmin was still the preferred option of finance but none came to pass. Speculation on if SP had offers on the table or not are until evidenced just speculation.
Faced with multiple licenses and multiple prospects within those licenses Perv#1 was the business choice.
Why?
We barely made it over the line with funding for Perv#1. If you think we would have made it over the line to drill what was the business previously declared 'best prospect' with drill costs twice P#1 within the timeline and without shareholder revolt - having rejected company proposals to dilute to the tune of 10bn shares - your confidence is admirable.

Had P#1 been commercial there would have been funding options, it would have significantly derisked the other licenses. I suspect it would have been sold for a reasonable figure and that the company would have been free to prospect in other license areas.

Blame? None, we had an obligation to drill. We drilled the drill that could be delivered and had good seismic data to support the location. You never know what is there till you drill.

Ramping? Nope. We are where we are.
Deramping? Nope. We are still where we are.

Until we know the business strategy going forward it is all just speculation.
My BPC holding took a 70% haircut, turds occur.
I take my losses. I am fortunate that it will have no significant impact for me. I do feel for anyone over exposed.