Member Info for rossannan

dubed

What I’m saying is that if I was them I would insist that equity took one for the team before I put my money back on the table.

dubed

But is the CLN funding actually available to BPC? Last time I looked that ball was with Bizzells and the Family Office. It is their call, not BPC’s.

dubed

“funding is in place for the first spud”

If that is the case, why would the market be suggesting in any way that a raise was on the cards at this stage? Why wouldn’t BPC just wait for the drill result - funders would be queuing up in the event of success and in the event of failure dilution into near oblivion is pretty much unavoidable, whether or not there is spare cash in the bank.

dubed

“ there will be a further raise for a second spud”

The market may be telling us that there will be a raise for the first spud...

onlybpc

I used to live up there - where are you exactly?

Scarface72

We’re waiting for the raise.

Rp11ace

Will it? It hasn’t so far.

ZagEgypt

Much though I would love to, I’m afraid I’m here all day.

Private_Investor

Where’s the funding Potter? A more pertinent question than ever. Not a single word about funding in that RNS. As I’ve said before, funding is a how question, not a whether question. But it is the question.

ZagEgypt

Agreed, except the Finance bit.

*whole

brynjon

I saw the document you are referring to and, as I asked jimtheknow earlier, what else are Stena going to say? This who,e conversation is, after all, more about how the drill is going to be funded than about whether it is going to be funded.

Whether it is going to be funded (i.e. whether it is going to happen at all) is a conversation about scenarios that are much more negative than equity simply taking one for the team.

Was certainly not planning on agreeing with Starchild about anything this afternoon, but life is full of surprises. Post recommended.

Ibiza28

As jimtheknow points out any equity raise would likely be a placing and as far as the price is concerned they will do what they have to if it is necessary to unlock everything else.

Rocket13

Thanks but it’s Fife for me!

Ibiza28

As jimtheknow points out it would likely be a placing and as far as the price is concerned they will do what they have to if it is necessary to unlock everything else.

harel

The share price and market sentiment might dictate the price, but they would not prevent a raise.

harel

There is nothing to stop them doing an equity fund raise.

harel

Why do you say that an equity fund raise is off the table when it is something that the BoD specifically mention in the passage that jimtheknow quoted?

Dreamland99

As jimtheknow just quoted, the BoD are happy that

"When considered alongside a variety of other potential funding options available to the Group, including concluding a farm-out arrangement or equity funding raise, ... the Group will be able to raise the additional funding required to execute the exploration well in satisfaction of all licence requirements."

So the reasonable worst case scenario appears to equity taking one for the team. For the drill not to happen now I think we would be looking at a substantial plunge in the oil price and/or a very significant Covid spike.