Member Info for Razorman

(iv) "Drill for equity" type arrangements: Another common financing structure in the oil and gas industry is a "drill for equity" type arrangement, whereby major service providers commute part of their fees into an ownership interest in the underlying project. Several such options may be available to the Company. For example, as previously announced, in the contract for the provision of a drilling rig with Stena Drilling, BPC granted several investment options to Stena Drilling such that, prior to 1 December 2020, Stena Drilling has the right (but not the obligation, and there can be no assurance that Stena Drilling will exercise the right, all or in part) to (i) subscribe for up to $10 million of new equity in BPC on the same terms and conditions as would apply in any BPC capital raising, or (ii) farm-in to the BPC southern licences on the basis of $10 million for a 10% non-operated working interest. If Stena Drilling were to seek to take up either of these investment options, the consideration could be satisfied either in cash or by way of offset against amounts payable by BPC under the Rig Contact. Similar "drill for equity" type arrangements may be possible in respect of drilling operations elsewhere in the BPC portfolio.

To the extent that any one or a combination of the above funding alternatives are successfully concluded on terms acceptable to the Company, the amount of capital available to the Company would likely materially increase, and would be additive to existing funding sources. Such funding could be applied towards eliminating reliance on convertible note funding instruments entirely, and/or expanding/extending the current work programme, or alternatively proceeds could be applied to a much broader work programme across the Company's asset base.

Appreciated star. More than anything else, for me, yesterday confirmed MMM to be a helmet.

Agree, not as bad as i was expecting. And it knocks out the second ranked convertible bonds which would be more destructive.

"Based on the anticipated cost of Perseverance #1, the combined amount of the Company's existing cash balance, Placing proceeds, and Conditional Convertible Notes would result in the Company not having a need to further draw on the previously announced £16 million (approximately $21 million) facility with a Bahamas-based family office investor for a zero-coupon, second ranking convertible bond (the "Zero-coupon Facility"), as part of the Company's overall funding strategy for Perseverance #1. Therefore, on successful completion of the Placing, and assuming other funding sources available to the Company and there being no material increase to the current anticipated cost of Perseverance #1 through the course of drilling, the Company would not intend to draw on the Zero-coupon Facility"

What news is that vamp kit?

https://www.google.co.uk/amp/s/oilprice.com/Energy/Natural-Gas/Why-Natural-Gas-Prices-Are-Set-To-Soar.amp.html

Also expect news on innis trinity deal with PRD by Wednesday - the option to purchase expiry date. Since the first offer I expect they have been in extensive negotiations, and flow test data should be known to both.

surely a hedge against their bet book. As their punters close their positions they can then reduce their hedge by the same. Maybe worth opening a large spread bet on GUN... to make spreadex buy those shares back lol

Evergent for Every User. Every Subscription.
In a world where user relationships can determine your success or failure, Evergent has your back. We offer proven revenue and customer lifecycle management solutions for global telecommunications, media, and entertainment providers.
175 countries. 460+ million accounts. Fortune 500 customers.

https://www.evergent.com/about/

There would be a price monitoring extension RNS at 7.01 am ???

Another partnership secured. BGO is releasing steady progressive news now. Also we know it benefits from the sorry state the world is in right now. Feels very safe here I must admit. Not selling these

Just watched today’s presentation - what was the point of that?? Unless I missed something there was no new information.

28% of rincon

Only 3 trading days before the interims... Interested to read the forward looking statement which should include more detail on yesterday’s odk media win

Overall, we see the business as benefitting from its recent change in focus and extremely well placed to take advantage of the clear opportunities for cloud-based editing. These techniques have been available for some time, but COVID-19 may (as in many other industries) catalyse or accelerate the change. We look forward to further announcements from Blackbird over the coming months.

Executive summary
Blackbird is a well-capitalised, market-leading provider of fully featured professional- grade video editing and production software that is cloud-based, making it well-suited to the increasing trend for remote working that has been accelerated by the current COVID-19 pandemic.
Blackbird’s intellectual property (IP) is protected by 9 patents, with a further 5 pending, that cover 2 core aspects of its technology: the compression achieved by its codec and the navigation system used by its video player. This technology equips the Blackbird platform with unbeatable speed, scalability and quality for viewing, editing and publishing video in the cloud.
Since joining the company in September 2017, CEO Ian McDonough has rebranded the company and product as Blackbird, and has re-focused the business on direct infrastructure deals and partnerships with major digital media service providers (Original Equipment Manufacturers, or OEMs), which integrate Blackbird’s video editing suite into their own offering and resell the software platform to their own client-base.
2019 could be considered a year of transition for Blackbird’s customer base, away from project-based sales to annual licencing contracts, the success of which is reflected in its reported revenues growing by a healthy 24% year-on-year. Revenue growth accelerated to 49% y-o-y in H1 2020, reflecting the underlying momentum of the business, as well as a positive effect from COVID-19 boosting demand for remote working applications.
The current Software as a Service (SaaS) business model with annual or multi-year licencing gives the business good visibility with a high level of recurring and repeatable revenues, and the transition to longer-term contracts led to a dramatic increase in the contracted order book during 2019. At the year-end, deferred revenue and contracted but uninvoiced revenues totalled £1.9m, representing 1.75 times 2019 revenues. Of this, £0.8m – equating to 74% of 2019 revenues – related to revenues to be recognised in 2020. At end-August 2020, the contracted order book had risen to £2.0m, and secured revenue for 2020 stood at £1.45m, which is already 35% higher than FY 2019 reported revenues.
Blackbird’s relatively fixed cost base means that management’s targeted sales growth over the next two years, expected to be driven by sales coming from an increasing number of partnerships with large-scale global OEMs, should quickly take the business to profitability. While revenues grew strongly in H1 2020, operating costs were held lower than in the comparative period.
A further opportunity comes from deepening partnerships with the three main public cloud platforms: Microsoft Azure, Google Cloud Platform (GCP) and Amazon Web Services (AWS). More generally, the acceleration of organisations' migration to the cloud should open up further opportunities for Blackbird. The pace of this has been increasing over the last few years and has been further fuelled by COVID-19.

Note

26page company research not by Allen by capital now on the website - lots to take in and I guess this will be the basis of today’s presentation.
http://www.allenbycapital.com/research/research-bird_3_2142971402.pdf

Goggles down - Time to spin the propellers and start up the engines!!

I second that!

Lots of buys this morning... be good to settle in the early 20’s ahead of mondays results.