Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Ramp for tomorrow is BPC cancelled the Proactive webinar as they struck oil.
Deramp for tomorrow is BPC cancelled the Proactive webinar as they have found nothing so far.
Question for now......have they cancelled the webinar this evening ? Schedule looks like an Azerbaijan miner has been added and BPC not there based on the speaker profiles ???? Dont know.
No.......because nobody is short BPC.
The share price is weak because they keep issuing hundreds of millions of new shares to raise money. And they still need to raise more money. And they have openly said if the current funding initiatives ahead fail.......then they will have to delay or defer Trinidad work.
This well has a 65% Chance of Failure..................... imo only gamblers are holding BPC shares and for sure, nobody is short.
Nobody gets their trading perfect everytime. Simple fact, in 2022 the share price of TXP could be 200% or 300% or 400% or 500% higher than today. The current share price of circa 150p values only Coho and Casca-1. There is nothing in the price for Casca-Deep and Royston. We are drilling Royston, Steelhead and Kraken in the coming 12 months. We might have 2TCF proven in 2022, or 3TCF............
I am adding TXP every month this year......just keep on buying. Picked up a load more yesterday at just over 157p.
Read the company RNS and their statements in court.
No oil will be produced from this well. There is no flaring planned or applied for. The well is purely "technical" with no oil at all produced.
At the very best imo they will do a mini-DST.....thats it, sampling for lab testing.
From the last official company RNS on funding.
................In circumstances where neither the balance of the fixed-conversion price conditional convertible notes is available, nor the Call exercised, BPC would need to rely on seeking alternative funding if it was to be able to complete the full intended program of work for 2021 (most particularly in Trinidad and Tobago and Suriname). There can be no assurance that BPC would be successful in securing any such alternative funding, and if this were the case, the planned program of work in Trinidad and Tobago and Suriname might need to be curtailed or deferred....................
https://www.investegate.co.uk/bahamas-petroleum-co--bpc-/rns/funding-strategy--reconciliation---put-option/202101120700073153L/
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https://www.bnamericas.com/en/news/trinidad-forecasts-challenging-year-for-gas-output
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The ramping is getting worse on this thread.
What is going on ? Lloyds quoted as saying they are not underwriting it and then refusing to comment further ??
http://www.tribune242.com/news/2021/jan/22/oil-drill-opponents-hail-insurance-intervention/
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Link below :
https://www.youtube.com/watch?v=ebBUZdDCM4g
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Below is the link for thebull8 (poster on ADVFN) DCF (minimum) Excel file.
This is the "minimum" projection (based on just Coho and current Cascadura)..........he is working on the maximum version.
https://gofile.io/d/qel65N
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I think as Paul says.........the NGC and the Country need the gas so badly that they will not be holding back.
Facts are easy to prove with links and quotes Irene.
The rampers will always go against facts with personal abuse........as they cannot fight fact.
Its also interesting nobody has highlighted the stark warning in the last RNS.
Clearly stated that there is a risk they may not be able to raise the funds required and that T&T work and Suriname might need to be curtailed or deferred.
https://www.investegate.co.uk/bahamas-petroleum-co--bpc-/rns/funding-strategy--reconciliation---put-option/202101120700073153L/
..........In circumstances where neither the balance of the fixed-conversion price conditional convertible notes is available, nor the Call exercised, BPC would need to rely on seeking alternative funding if it was to be able to complete the full intended program of work for 2021 (most particularly in Trinidad and Tobago and Suriname). There can be no assurance that BPC would be successful in securing any such alternative funding, and if this were the case, the planned program of work in Trinidad and Tobago and Suriname might need to be curtailed or deferred. .........
Reality as opposed to "Ramping".............
Oh dear the rampers will not like Potter saying this....
As I have been saying......lots of appraisal wells needed, proper flow testing and flaring........then multiple billions of dollars investment to pay for FPSO and infrastructure.
hTTps://thenassauguardian.com/five-years-to-establish-oil-industry-says-bpcs-ceo/
“It would take us five years to confirm the exploration potential, to confirm that the well will flow and then to put a production ship in operation,” Potter said during an appearance on radio talk show “Issues of the Day” on Love 97.5 FM yesterday.
If my sums are correct, Lombard dumped 50 million shares between 12th to 15th Jan.
12th Jan 2021 Lombard have 217.6 million shares (4.83% of 4.506 billion)
Put option plus 187.5 million shares
New holding 405.1 million shares
15th Jan 355.5 million shares as per todays RNS. (7.56% of 4.703 billion shares)
So seems they have sold circa 50 million shares between 12th to 15th January.
Canaccord update on todays news :
"Acquires full ownership of Talitha
Canaccord Genuity view:
Pantheon is acquiring the remaining 10.8% working interest (WI) in the Talitha Unit on the North Slope of Alaska from Otto Energy in exchange for c.14.3m Pantheon shares. Following completion of the transaction and the recent success in the Alaska State lease sale, Pantheon will own a 100% WI across all its 161,000 licensed acres on the North Slope.
We see the mopping up of the 10.8% interest in the Talitha Unit as an accretive acquisition for Pantheon, which also simplifies its holdings and gives the company absolute control over the future of its position in Alaska. ***That should streamline any future farm-out or sale activities that the company may undertake.***
Transaction details:
Otto Energy owns 10.8% WI in the c.44,000 acre Talitha Unit through its 100% held entity Borealis Alaska. Pantheon will issue to Otto 14.273m shares in exchange for that interest. Otto will retain a 0.5% overriding royalty interest in any future production from the Talitha unit. The completion of the transaction requires approval of the Alaska Dept. of Natural Resources (DNR). That is anticipated "to take a number of weeks". The shares issued to Otto will be ***locked up until 30 June 2021.***
Drilling refresher:
The Talitha #A well spudded on 13th January. The operational plan is to drill to total depth (TD) of c.10,000 feet through four objectives. The primary is the Shelf Margin Deltaic (SMD) which is also the shallowest expected reservoir zone. Three secondary targets are anticipated: Slope Fan System, Basin Floor Sand, and Kuparuk. Pantheon plans to ***test each zone after completing the drilling operations***. The full operational programme must be completed before the spring thaw begins
which is usually around end March.
Valuation and rating:
We see the all-share acquisition of Otto's 10.8% WI in the Talitha Unit as accretive to Pantheon and beneficial to it in terms of simplified and total ownership of all its North Slope licences. On the basis that DNR approval is given for the transaction, we ***raise our NPV10 risked valuation to 89p (from 83p)*** and maintain our Speculative BUY rating.
That valuation includes ***only*** a risked assessment of Pantheon's 2C resources in the Alkaid project and the independently determined c.300 mmbbls resource in the SMD within Talitha. Our unrisked valuation for that subset of the company's resources increases to 205p (from 172p).
The company estimates the full potential resources in Talitha across all four target zones as over 1 bbbls."
Something to remember, this BPC P-1 well has a 65% Chance of Geological Failure.
Even big companies, like Exxon, with the best technology, with so much information and the very very best people in the world........hit dusters all the time, even if places flooded with oil.
Always remember that...
https://www.argusmedia.com/en/news/2178076-exxonmobil-hits-another-dry-hole-offshore-guyana
ExxonMobil hits another dry hole offshore Guyana
Published date: 18 January 2021
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