Member Info for Scully12345

I'm in agreement with Jim regarding RNS - I would love to see a RNS this week but agree the company appears to be keeping things quiet.

Thanks Kapkina, that's interesting. I know you said your probability for a RNS before AGM was less than 10%. With multiple possible reasons for a RNS, one being a deal, I assume your probability of a deal RNS before AGM is lower than 10%?

I've pasted your questions that previously, here to go, anyone feel free to add their questions?

1. What are the reasons why the exclusivity and NDA would NOT end in farm out deal?
A. Data is not good enough
B. Cant agree on terms (WI)/
C. BPC has no AE from GB

2. What would be the Dilution from self financing firts drill?

3. How much cash from $1mn paid by the major is still available for th busness as usual?

He wrote: "Hi all I thought I'd ad to everyone's posts. Myself I think even if it did drift this price is still a good entry point as it would go over this in the future no prob. It has also given me the opatunity to buy in again at lower than before after selling half at at 7.20 at which I originally bought at 3.10 so higher than a lot of long termers but lower than a lot here. I would love the chance to buy even lower but I can't that happening in the near future as there is too much at stake and don't see a deal being done over night as there's too much involved for a deal to to be concluded until other parties have had the opportunity to get involved if bpc and indeed the major wants them too. If anything I'd say it puts us in a stronger position if the major is still negotiating and third party joins in to take up some of the costs. Years of work has gone into this to get to this stage not see a test drill go forward so for me which ever way the sp goes here will be welcome for me as sooner or later it will be drilled no matter if it's this major or another. With billions involved it makes sense that a third party may get involved or take over from where this major left off. Being backed by the bank tells you that bcp are in a strong position to hold till the right deal for them is made."

Kapkina how can we work out the probability of this without knowing all of the facts. Seems like a fruitless exercise to even try. Why not instead focus on coming up with pertinent questions for the AGM?

One thing is think is for sure - if this dropped to say 0.30 it would most probably be bought into by those who have it on their watchlist

Interesting post from Whoppy on ADVFN bb:

Rig costs have come down a lot, so the well cost has come down from about $120m, to $50-$60m. I think also with all the extra technical work and well design BPC have done, they reckon they can improve the ROP (rate of penetration) of the well which can save time and costs on drilling. If a major were to drill the well, then they would want to do a lot of extra work and use it as a scientific project aswell as an oil well. With regard to any offers, I'm not sure if BPC would ever refuse an offer but when you are in exclusivity and you may have had a low offer, because the major will know you're handcuffed to them and maybe desperate, there is not much you can do due to the exclusivity. Sure you can negotiate, but it's not like you can go and see whether you can get a better offer. I think Macquarie will be doing the advising on any offers and whether they should accept or not. Maybe they advised them to re-engage with others and get further financing to stop any lowball offers. Or maybe they are re-engaging as the major is open to other parties and want to share the backcosts and risks and BPC won't have to raise as much cash if they were in a consortium. I would have thought before BPC entered into an exclusivity and risk cutting yourself off, you would make it clear the percentages and backcosts you are looking for to make sure the exclusivity is worth everyone's time and money, otherwise it's a waste of time.

Keith I don't understand why some people claim to invest in this share but then give such a negative and pessimistic outlook. I know you've been ridiculed on here and so have I, simply for daring to suggest the negotiations may still be going ahead and stating the only thing the RNS states is exclusivity has ended and the company is funded to completion. Like you said we'll have to wait and see what happens tomorrow. It's certainly going to be an interesting one.

Davie well done for holding tight onto your shares until we understand the true meaning of the RNS, rather than panic selling. It will remain to be seen whether you're right or wrong. I respect your views even though they are different to my own. Let's agree to disagree and leave it at that hey.

Davie I was addressing you both as one. Since I believe you and Neptunes are the same person. Based on the idiosyncrasies in how you both write.

Jimtheknow - where's your post regarding this to Neptunes? If you don't agee with my views free to filter me. But I will defend myself when accused of deception.

Hi Degsy yes thanks I noticed your comment about the cashburn from that Friday's RNS. I only had a grand in around the 7p mark. Then topped up in the 4s to get out a 5s with a small profit.

MisterPositive - I didn't say the major is definitely Shell. We don't know if it's Shell...it's my best guess though based on recent news of their activity in the Bahamas and other research. That's why I said it's my opinion....I'll quote myself: "and the major (SHELL) IMHO" IMHO means in my humble opinion. Humble on this context means I have humility and realise I could be wrong. This is one of the reasons I think Neptunes has poor grasp of the English language. Either that or he intentionally misquotes people to troll the board.

For the record I have only reported one person on this BB to the FCA for market abuse and this was because they tried to pass a personal opinion off as fact by posting the word fact after the sentence. It was clearly intentionally misleading.

Neptunes I'll reiterate you have yet to state why you disagree with the points I raise - you just resort to insults and accusations. I just have this account on LSE. I post enough on this account, so I think that's sufficient to prove that lol. If you think I have multiple accounts then report me to LSE and they'll check IP addresses etc. Feel free to repost anything you think I've said that you claim to be misleading because you won't find anything. I just have a different opinion to you which you don't agree with. I do not try to pass my opinion off as fact. I think you struggle with communication and the English language in general. You're not as intelligent as you think you are and struggle constructing cogent arguments in response to others, so resort to very personal and polically incorrect insults. For example, last week you said I had someone's "balls in my purse". That's clearly a homophobic comment. You may think you're well hidden behind a computer screen in cyber space but you should really take lessons in morals and ethics and conduct yourself properly in all situations. This is just an observation not intended as an insult.

*fund not find

Can you give me your views on if ALBA will consider selling their HH share to find their other projects...Black Sands in particular but not the gold mine lol - as much as I love gold this is just a publicity play IMHO?

1p, 2p, imminent in my view IMHO GLA DYOR

I'm hoping that I can get in for under 0.48p possibly 0.45p for another 4.9 million shares. So hopefully pulls back with the mother of all tree shakes before newsflow. I want 10 million shares in this in total. Deeply regret not topping at with the recent drop to 0.45p to buy a week or so back but I just couldn't free up the principle in time and the window of opportunity was limited. Well done Wilk though. Well jel now :( Holding tight onto my 5.1 million shares in this but this is my favourite company in my portfolio and want more skin in the game.

Camkite look at IIP for example - today it's the top of Sunday Mail AIM fallers 30% odd down. This had risen albeit over a longer timescale. Looks good value now though. Bit this retraced. Look at OKYO too. All different businesses though. TOOP is certainly on my radar as is re-entry into IIP (I'm out with a small profit at the moment). I have concerns about the Google Reviews with TOOP bit everything else considered I'm happy to trade this and have a core holding at the right price. Who knows if placing could be above 1p or around 0.3p??

Camkite - I always try to top slice and take some profits just in case. Leave some to run. Topup on the dips. Have a core holding and trade some?