Member Info for rossannan

ZagEgypt

Just 21 right now.

Investinvalue

Good luck with that. With a near £100M MCAP even at 2p, with P1 being plugged and abandoned, with the Bahamian PM’s recent remarks and with any number of case studies about the inevitability of future dilution in these scenarios, you really are in fantasyland there.

“Penny stock to a £££ stock!”

Hopefully no-one on here believes that BPC’s shares will ever (absent a consolidation) be worth £1 or more. If anyone does, they have just not been paying attention.

Scarface72

“a lot of pi's were planning on exiting the stock pre drill results”

Absolutely - it felt like a low risk trade in the low 2s after the end September placing appeared to clarify the funding issue, but it stopped feeling low risk a while back now - I am wary of bulletin board lawyers and now also of the BPC BoD (not just Leo Koot). Happy to have taken a modest profit and surfed the proceeds into the far less exciting TRIN. Will watch how the BPC situation develops.

Ollie239

“It looks like the 18th is the final date in this sitting for new cases to be heard.”

Rather than speculate, just email info@courts.gov.bs

themuir01

Where did you get the 18th from? If you follow this link there appear to be cases up to and including the 23rd:

https://www.bahamasjudiciary.com/courts/hearing-list/

Hollybean

Given the PM’s recent remarks, you may have a point, at least in relation to BPC/The Bahamas. To some extent it comes down to whether you are in BPC for the pre drill excitement, the drill result or the long term. It is hard to know where the high watermark will end up being. It is even possible that it has already passed. This is a strange one and no mistake.

You know, the site with Tom Winnifrith et al.

The headline is “BREAKING BOMBSHELL EXPOSE: Is Bahamas Petroleum $20m disguised death spiral placing today ILLEGAL?”

Haven’t read the article but will check it out later.

stepup

It is worth looking back to the immediate aftermath of the end-September placing, when the pre-drill excitement trade looked almost like a one way bet, and considering everything that has happened since then, positive and negative. The balance of risk and reward on the pre-drill excitement trade has clearly changed significantly. This doesn’t mean it’s a bad bet, but it’s certainly not what it was. The best case outcome for anyone with enough risk appetite to hold for the drill result certainly isn’t what it was either, and those recent quotes from the Bahamian PM haven’t helped.

stepup

“We are not borrowing from one finance deal to pay the other Like good old Cerp used to do.”

Maybe not, but BPC feels increasingly like good old CERP/LGO, where the wheels on the bus certainly went round and round but it just never arrived.

Classic AIM.

onlybpc

I’ve a watchlist of around 50 shares with holdings in just under half of them. I keep shares on the watchlist whether I’m in them or not. Once you’ve put the work in, it’s worth keeping in touch with them because you never know when they’ll throw up an opportunity. Not sure what more there is to say about BPC right now though, not until there is some new information anyway.

Trek

Yes, that is the good thing about LSE - the only moderator is LSE so you are free to argue the bear case as long as you stick to their rules.

I have put my BPC proceeds to work in the less exciting TRIN, where I have put even more work in. The BPC pre-drill excitement trade is no longer for me, not now that I have seen the whites of the activists’ eyes, but I will reassess once we see how they fare in court.

jcgswims

Yet you banned folk like me from your ADVFN thread who, without any personal abuse or intemperate language, made valid bear points (points that subsequently turned out to be correct).

ADVFN has always had a more laissez-faire approach, at least in some ways. LSE is a more level playing field. I prefer LSE.

Wow!

(including that 500,000)

CarsCoffee

How many do you have at the moment?

Adrianuk

“our other assets which will bring exceptional cash flow short term”

I don’t think anyone wants to find out what the market really makes of those “other assets”. How much of the current £100M+ MCAP would you ascribe to them?