Member Info for Private_Investor

Not sure I would want to accept 10p per share.
I need almost double that to hit my dream target.

Any offer of 20p and I will pay for the taxi to get SP back to sign from anywhere kicking and screaming.
30p and he can upgrade to premium economy.
50p and I will carry his bag for him.

I have traded angus and ukog. But longer term my only significant interest down there was property.

IP address stems from 12th October. Where you implied somm and Neptune shared an IP address. Also referenced the type of accommodation. Was not your finest hour scully. Made note monday but was in a tranche of posts dropped from the BB. Presume this was an IT glitch as no negative reference or improper use of language.

strange that there have been posts removed from Sunday night and Monday morning.
I don't remember reading anything that required moderator intervention.

I think a BPC book would have the feel of a children's classic.
SPOT.

Run spot run
see spot run....

repetitive and predictable.

until the end when Spot eats the small child...
SPOT Tarantino style.

several posts appear to have vanished.
Either some over zealous moderators on the pitch today or the site has issues again.

I take no pleasure in Scully's loss or anyone else for that matter. I share the pain.
No need to kick someone on a badly timed investment. We have all done the same.
I am one of many here that in hindsight wishes they had top sliced when times were good.
I am also one of the many that thinks things still have a chance of playing out well - where I would have wished not to top slice if I had done so.

If Scully is averaging down - a very valid strategy if you are confident in the share good luck to them.

I am not as confident in the business performance or the BG as I would like so averaging down is not for me at this stage. I am still confident that the prospect of oil remains, and if BPC can get it over the line lots of people on this board will make six and seven figure returns.

off to the tourist trap to people watch whilst reading my paper and having a brew.
Play nice whilst I am out.

8 years.... Not 8 times.... Ok. They should stick to walking.

True. But i wouldn't want to accept a lift from someone who failed the driving test 8 times. Maybe public transport should be suggested?

Ah the BPC record of results. ... Never going to be on top of the pops. But it does spin the same lyrics just like an late 80's manufactured pop classic. New entry by BPC and the jam tomorrows. Farm in dream. That makes the recent comment by SP so different. Defeatest almost. I accept the ambiguities regards the farm in exclusivity. The one that jars is the not knowing why the exclusive nature was ended. Still keeping faith but feeling like that faith is being tested more than it needs to be. I strongly believe that there is oil there. I am just no longer sure BPC and us LTH will see the full benefits. My glass is still half full but people keep coming up to me with straws and taking a little sip.

Agreeing with both sides.

Yes I agree the BPC could not disclose reasons for the cessation of exclusivity I think that for SP to have said he did not know why they had not extended the exclusivity is either a lie or smacks of incompetence.

He could have said that the reasons for the exclusivity period ending were covered by the NDA and he was not in a place to discuss any further.
Very different from saying that he id not know. A statement like that would have given me confidence in his ability and integrity even if it did nothing to answer the reasons why.

If however he does not know then I worry for the communication channels between BPC and this major or any other.
That does not fill me with confidence.

I hope that you are correct and that there are no issues or challenges to the licence renewal.
As for the use of knowledge gained whilst under the NDA there are in this instance ways to cover it off.
Where you start the 3d scanning is down to choice. One would assume that the plan was to survey in detail but if a compelling location came to light early in the process there is no reason not to suspend survey work and progress to a test rig.
If I find a gold seam I may decide to complete survey work, I may equally follow the seam and start realising benefits early.

playing devil's advocate.
Sure there is a chance that BPC get the renewal. That is good for me. I gain nothing from BPC falling short.

I am just putting out there the options on both sides.

Without knowing the extent of the data shared by BPC under the exclusivity period I am second guessing. So, let me assume that the planned well location and supporting seismic data was shared. If I know where BPC were looking to drill and why they had picked that location why would I spend millions going back over that same exercise unless I did not have confidence in the data that was shared.

If that is the case I can either risk the drill in the planned location - same level of risk as today. Or I place zero value on the data that BPC hold.

Either way in that scenario what is the value in the BPC data?

That is true. The data belongs to BPC.
However, hypothetically, I am a geologist working for the major and brought in to review the data during the period of exclusivity.
Once I know the geology and the locations I can't un-know that.
I may be bound by the terms of the NDA but that does not preclude a much more targeted 3d seismic that can be completed in days and weeks rather than months and years.
If the licence is revoked in 2019 and offered back to the market in a timely fashion there is a very strong possibility that the major could be drill ready by this time next year.

The BPC data value is only what someone is willing to pay. Make no mistake if the licence is not renewed the BPC share price will be close to zero. Even if you place a generous £5m distressed value on the data you are looking at 0.3p per share before fees etc. If you are holding for the value of the 3-d data I hope you have success elsewhere in the portfolio.

This time next year the major could be drilling without BPC.
How quickly will the licence areas be back out if BG does not renew with BPC?

Hi Yakee, we have historically been screwed. However as with all investments past performance is no indicator of future events.
I am not a fan of Potter. I am sure that comms could have been better over the years.
I would like to have seen a deal done sooner or indeed at all.

Time will tell if this has further to go or not.

fingers, thumbs, and lack of proof reading.
feel free to deride all of my future posts based on the poorly written previous post.
Clearly it devalues any thoughts I have on BPC.

but I will give my thoughts...

The SP slide has been very gentle considering the abrupt change in direction when the exclusivity period ended.
Many claimed the SP would be at 1p in days.
Well, FWIW I think there is a real possibility of the SP continuing this slow slide towards 1p.
I am also well aware that 1 slightly positive RNS could see this SP back to 2, 3, 4p it is a sentiment play.

I will not give advice to others on what they should do or how they should view the share.
My play is that I have a reasonable quantity that I plan to hold till the bitter end one way or the other. I also have a much smaller pot that I was looking to trade through SP volatility that I picked up after the initial drop off but higher than we sit today.

I am sat on paper losses, they are not as bad as some but worse than others. I am comfortable with them all the way to zero. I can mark them up as a loss and as a costly error. The error will have been mine.
I take on board the views of people on this BB but I am responsible for my actions. (including poor spelling, grammar, choice of word)

I don't think we have long to wait for clarity on BPC. Indicators that are worth looking for, MQ contract extension or lack of. Licence conversations with BG. New or resumed exclusivity deals - I do not expect these as I suspect a consortium play is more likely than a sole Farm in now.

opinions are like Ar_eholes. Everybody has one, it dose not mean that you have to get it out in public.

If SP statement of not knowing why the major had broken off exclusivity talks is subsequently found to have been incorrect - for good or bad is that statement then fraudulent?

Anyone else noticed that the number of trades is down significantly.
There is not much appetite to buy or sell at these levels.