Member Info for Prospect-

Bahamas is proving itself still to be a Pirate Republic as it was 1706 to 1718. Unfortunately, we've all been taken in for a ride including BPC. Since 1696 this area has always been Piratical and what we are witnessing is that nothing much has changed. Don't build up your hopes because these Islands have previous.

Perhaps the great people of the Bahamas will have to go cap in hand to the Cubans to carry out drills because post-BPC **** all else will... lol

Come to the Bahamas and get shown how to turn £millions into pennies.... it's sunny, pristine and still infested with modern day pirates...

"If the Perseverance One well, once drilled, successfully identifies commercial quantities of hydrocarbons, that value, as independently assessed by numerous financial research analysts and broking firms in the UK could rise to as high as $2.5bn. This, therefore, represents the total financial loss to BPC that may result from a delay to the project."

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Mr Potter said the publicity surrounding the Judicial Review challenge "saw an immediate eradication" that wiped more than $60m from BPC's market value on London's Alternative Investment Market (AIM) as investors sold down its shares upon the negative news. Besides the loss of investor and regulator confidence, he added that any delay would also hit BPC's ability to raise capital.

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"In summary, therefore, I believe that any delay to the Perseverance One well programme from the current schedule would result in substantial direct economic losses to BPC of at least $25.1m, potentially as much as $29m, and even more substantial indirect economic loss of value and potential value of up to $500m," Mr Potter argued.

"Noting that Perseverance One's well hole was just 36 inches in diameter, and could already extend 1,200 metres (4,000 feet) below the seabed in the early stages of drilling, Mr Bond said: "Thus in reality, once drilling commences, if a court were to order BPC to 'stop' it would not be as simple as BPC ceasing activity with the drilling vessel and equipment moving away.

"Rushed or arbitrary removal or interruption to the presence of any or each of the 'protective measures' identified above would immediately threaten the integrity of the well, and potentially leave the seabed open to reservoirs and associated gases, fluids and influx materials."

http://www.tribune242.com/news/2020/dec/23/oil-explorer-fears-its-major-100m-asset-extinguish/

http://www.tribune242.com/news/2020/dec/23/bpc-warns-safety-risks-if-drilling-halted/

Right lads having drown half a bottle of rum all I can say to the Bahamas os have you submitted an application to join OPEC yet? If not why not? By the time BPC hits TD you'll be mad not to join the cartel. As for all these middle class environmentalists what happened to "Turn on, tune in, drop out" counterculture-era phrase popularized by Timothy Leary ? Take a chill pill and foxtrot oscar.

@Stach,

You've hit the nail on the head here. I'm not longer investing in AIM stocks and only holding on to 2 of which this is one. I held an AIM portfolio and the malpractice is shocking. Avoid AIM like the plague. Sure you get volatility and good returns can be made but a buy and hold strategy is a disaster in the making. AIM has such a bad reputation that investors in the States avoid it and it's not doing the LSE any good promoting AIM since it's giving the square mile a third world reputation. Post-BPC and one other AIM is finished for me. Won't be throwing good money after bad.

Some folks have pockets that can match institutions and drive this to sub 1/2 a penny to shake the vermin out. **** them off and you'll find out. My guess is this is heading sub 2p. The BoD are sending out negative signals and the market is speaking volumes. Time will tell.

ZagEgypt.
Pleasure but it won't stop BPC going sub 2p. BoD going potty with dilution because there is no confidence and a bird in the hand is better than two in the bush. Right? Market is telling us this sucks and presently your not going with it because you can't see the wood for the trees....

The rate of dilution implies no confidence in P1. Also, explains the CERP acquisition. BoD are ****ting themselves with P1.

Good idea drop this sub 2p and stuff the institutions who are offloading 2p plus.

Cheer up....

https://www.youtube.com/watch?v=gnFMLTTjgkM

Bleeding heck we're ALL sick of this share... where's the rum....

Why dilute at this stage if you think there is oil with P1? Why not wait until you hit til then dilute at £5000000000 a share? It's duster so reap in as much as you can on suckers and dilute to hell and back???

We got a spud market is going south and, therefore, the market is saying BS to BPC. Very sad really, but think the BoD have to ask themselves why the market is negative on BPC. There's just no excitement here. It's like the market is saying BPC is dead in the water. Very frustrating. Not good.

Not behaving like a stock that will get to 12p at the moment. Though do think if it gets near those levels PIs will quit. Without shareholder value this is looking like a lead weight.

wtf going south on spud news.... barmy...

for 10 years or more BPC was a one trick pony. That implies that the BoD had t concentrate on picking a drill location that had the best chance of success. That's 10 plus years at looking at the data. That's 10 plus years on picking Perseverance 1 . You tell me what other drill location has had 10 plus years of thought behind it???

Wasn't long ago that some were saying BPC would never spud and it was all a con job. Well, that was proven wrong. Just like those hinting at a duster are gong to be proven wrong. Time will tell.....