Thebhoys. Predator are in a impressively strong position for a company with a 8m MC. BPC will have to acknowledge:-
1)The cash would be very useful for P1, and help limit further dilution.
2) PRD’s CO2 EOR is about to be proven (Soon) for use in Trinidad’s mature fields
3) PRD have secured exclusivity of CO2 supply from Trinidad’s ammonia plants.
4) Trinidad has a lot of mature oil fields where the CO2 EOR could be deployed.
5) the limited CO2 supply means that if PRD walk away from innis trinity then benefits to BPC will be lost.
4) BPC would also lose the right to claim/tout the greener and sustainability credentials of operating CO2 EOR.
Finally, it won’t be popular on this board but the potential upside over at PRD is looking much more compelling and nearer term. And I’m saying that holding circa, soon to be 7m BPC shares.
U.S. Department of State chooses Blackbird
Blackbird plc (AIM: BIRD), developer and seller of the patented market-leading cloud video editing platform Blackbird, announces that it has been chosen by the U.S. Department of State for video production, including the publishing of fast turnaround digital news to its own and other online news outlets. The contract awarded to Aperture Solutions Group, Blackbird's U.S. partner, is for one year with multi-year extension options. The contract value is a six-figure U.S. dollar amount each year of the contract.
The U.S. Department of State's video and production teams will be able to use Blackbird to rapidly clip, edit and publish news broadcast seconds after live to its social channels including Twitter, Facebook and YouTube, as well as delivering longer form content to its own website and other digital news outlets. Working across multiple U.S. based sites, production teams will also be able to instantly access videos kept in Blackbird format from the department's archive for the repurposing of content across its social and other online channels. Blackbird will be replacing both SnappyTV and traditional on-premise editing systems.
Ian McDonough, CEO of Blackbird, said: "We are delighted to win this publicly competed tender from such a high-profile international customer. As a large-scale non-traditional video broadcaster who is expanding their output, the U.S. Department of State had the entire plethora of available technology and more traditional tools to choose from. They have chosen Blackbird because, simply put, we can do things that no other cloud video platform is able to do. We can deliver unparalleled speed, high quality, full interoperability and scalability which is ideal for both large and small teams alike. The deployment of Blackbird is designed to raise the quality of output and drive engagement as well as internal productivity."
By once again focusing its output cuts on the U.S. market, Riyadh is hoping to repeat the success of the second half of 2017, when oil prices rose by 51% from a low of $44.82 in mid-June to $67.87 by the end of the year.
An interesting read
News on Tuesday will be a big boost to all of cerps current producing fields - but mostly goudron. The reform is long overdue and finally looks to be happening with both competing parties in the election pledging SPT reform in their manifestos. Goudron has had the brakes on ever since Leo Koot’s ‘more bang for our buck’ initiative which was driven by the negative impact of the Tax... with reform, any rise in PoO should translate to more Goudron well work overs and hopefully improved profit. We should understand how significant the SPT reform is on Tuesday... But don’t underestimate the importance of this event for Trinidad oil.
Gas production in the Appalachia shale basin is expected to drop by 210 million cubic feet/day between July and August, to 32.713 billion cubic feet/day this month, according to EIA’s latest Drilling Productivity Report.
Bodes well for gas prices / Morocco and Ireland next year - Buffet knows
Incidentally I was on you tu be yesterday looking at electric car reviews and an impressive blackbird add popped up. American accent narration so focused on the us. I’ve never enjoyed watching an advertisement so much - Looked so good.
“We are in advanced conversations with a number of other OEMs, Including large telcos and service providers around the world to integrate blackbird seamlessly into their solution”
Ian’s words from his most recent interview 18 June (at 4.09). I wonder how those ‘advanced‘ conversations have progressed over the last six weeks... ???
However, I doubt PRD will up their bid for Inniss trinity. It’s more a proof of concept. PRD with their exclusivity of CO2 supply hold the cards here. Lots of mature oil fields in country provides a huge competitive advantage to PRD. I hold a lot! of cerp shares (soon to be BPC), on the BPC board they think Paul will roll over on the valuation but they don’t understand PRD’s unique position - A sign of this is being able to persuade a third party to stump up the cash! Now why would that be?? Next few weeks / months are going to get very interesting
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