Member Info for Robbla

Ross... that horse has bolted.. can you close the gate please.

Well, that's one way to interpret it and spin it I guess.

what about, BPC want to bring the drilling in house as they dont see value in farming it out and taking an equity cut? I believe the option was there, they (we - BPC) just didnt want to proceed as we can do it. Remember, CERP were probably in a very different situation in terms of funding and their hands were tied.

Please hold. Incoming.

Time flys when you're having fun... in the Bahamas!

That still a possibility right up to and after spud and or results... no?

That was an emotional catch up.

Bet you still wear shorts in Dec...?

Probably. Current volume is fairly consistent with the past few trading days. The lack of information attributed to Stena in the RNS has nothing to do with the benign move nor the 30/45 or 45/60 or 40/60 days.

You said in the first instance it was due to the 'drill time', then 'Stena'... now its 'volume'.

If you look at the drill time line it states 40 - 60 days, a lot will depend on the rate they penetrate anyway. The point I was trying to make was that the 'tick down' has naff all to do with 30/45 days opposed to 40/60 days just as much as it (the 'tick down') has nothing to do with the absence of (not) mentioning Stena.

Oh yeah for sure, 100%. Cant think of any reasons why share prices move up and down. Must be the due to the Stena connection. Sigh...

No, the well was always going to be 40 - 60 days.

'The drilling rig will mobilize to the Blocks from its previous assignment and is planned to commence its first well in the first quarter of 2020. Each well is scheduled to take approximately 40 - 60 days;'

Anything market sensitive will not be 'slipped' into a presentation. It'll need to be RNS'd.

These presentations are not off the cuff, they'll be well scripted and would've been run through multiple times.

Spiritefan, ok that makes sense. Thank you. So I guess by releasing yesterdays fully funded and share options RNS and the lapse in date for the CLN, by definition its confirming its no longer required.

Ok, as we were.

So been having a think.

If the CLN was the base for any offer or further funding models going forward to finance P1, how did we arrive at £10m+ placing at 2p...?

I’m at a loss at to why no confirmation or extension to CLN terms and why on the 15th October of all days (seeing as that was the expiry) the board choose to advise P1 is fully funded and then award shares.

Strange to say the least. The games afoot...

Circa 15th December.. +\- 4 days.

Interesting that the board decided that today the 15th October to RNS the drill is fully funded and to take up the options... I dont believe in coincidence to be honest... not when its about informing the market.

"Further to the US$12 million equity placing as announced on 1 October 2020 (the "Placing"), the Board, having consulted with the Company's relevant advisers, has determined that the initial exploration well is fully funded per the established criteria"

It doesn't then go on to say '+ the CLN', we've been told time and time again the board will only draw on any funding as and when and required. So if we're fully funded the CLN isn't required IMO and today being the 15th and last day to either subscribe all or in part to then extend to the 15th November (if part subscribed).

It hasn't stated that we don't need it... it states that we are fully funded to allow share options to be taken up.

Looking at the timestamp it was updated on the 14th October.

Slipped in... unless I just missed it.

https://d1ssu070pg2v9i.cloudfront.net/pex/bahamas/2020/10/14102918/100759-BPC-QA-Doc_FINAL.pdf