Member Info for ShouldveSold

*I am pressuming you see this as positive?*

Private_I
For me P#1 will always be a bone of contention because of the non commercial conclusion. I disagree with your negative & positive points for these reasons:

•Negative points.
Lack of financial savvy.
°BPC generated zero income pre merger & had a BOD annual wage bill in excess of £1m. Its ability to secure finance could only come from share placings & borrowing against the assets gained from the merger. At this time BPC was producing circa 250bpd & WTI was circa $35. Funding options were limited to these 2 avenues. So I disagree with the stance of "lack of financial savvy". If daily production was closer to 1000bpd & WTI was $60+ I am certain there would have been a plethora of financial options.

Missing TD on P#1.
°Stopping short of TD actually cut the total cost of drilling by $5m. We can all debate the reason for halting operations. But if drilling continued, the total Stena invoice would now be £50-52m, not £45m.
I am assuming everyone knows the numbers so won't have to debate them.
I am presuming there are people who believe that commercial oil quantities were actually located at say 5000ft+ & BPC chose to stop short and that P#2 will now target that zone?

Deadlines and delivery dates slipping.
°Does Covid not account for these missed dates in entirety?

•Postive points
°What odds were against drilling? The licence is 100% BPC's,10 years of research had been achieved, funding was achieved, drill ship contract was obtained, weather was perfect.
Data set enhancements for P#1
°I feel like you guys know something about oil exploration that I don't & are choosing to not share this secret. What are you expecting from the updated basin/P#1 results? A new drill target perhaps with proof oil is contained in a trap which will now have 100% guarantee of commericality?

Bahamas license conditions satisfied - extension
°This point confused me. Is this referring to the Drill or Drop condition?
Its my understanding that BPC did not get an extension by default. They have to reapply, which adds to capex. Apologies if I misunderstood this point. They have also reduced the acreage from 124,000²km down to 6000²km. I am pressuring you see this as positive?
So less acreage - more chance of finding oil?

Mullins58 just so can gain a better understanding; how long does it take to get a mine up & running or repoen a old mine?

I now have the impression that ALBA need to prove a particular amount in gold weight per tonne/per acreage exists & is extractable in order to secure a production licence.
I am yet to read any document that states or indicates a date in which a licence application will be submitted or granted.

Lots of posts today which has had to lead to RNS quotes for accurate figures to be presented.
We are all human & cannot retain all the information all the time for total recall, so its nice to have the official RNS to refer to so understanding is clear.

I don't understand why anyone other than BPC's Commercial Director would find it necessary or take it upon themselves to post a daily synopsis stating company fundamentals.
For those who believe in agenda's or manipulation, I note the absence today.
That being said this board is here for share chat & so I don't take any issue with people doing exactly that.

As much as I am looking forward to the S2 spudding, I also have a little trepidation based on the difficulties drilling the S1 well.
I trust the team will use the experience gained during S1 to complete S2 successfully without any unforeseen issues. I am also mindful of the 90% watercut in the middle cruise encountered in S1 so am managing my expecting pending outcome.
It would be wonderful to hear that S2 proves up more reserves of high quality crude and that drilling operations have manage to avoid perforating zones in the water table.
The outcome of this 1 well could take BPC back into the 800bpd range.

One separate point:
Objectively speaking; what is the difference between posting a message everyday on the fundamentals of why BPC is worth or not worth an investment? Each respectively calling for a higher or lower SP?
Are they not equal & opposite acts of the same thing?

You think 2p by the second week in May eh???
Is that a random number or have you done the maths?

Come on now Jono don't upset the harmony. Why can't it always be like this?

Look at you all getting along and acknowledging each others valid points and not getting personal
:,)

I'm so proud of you guys

If only one could afford the to have the investment strategy of buying and holding every stock indefinitely. Even that doesn't always pan out.

Google Stephan Sanderson CEO

I cannot believe I sold out of the Weald to top up here in November and now that old investment has rallied 300% & this has fallen to current levels. *facepalm*
Timing is everything !!

Let's keep everything in perspective. As yet Alba does not hold any production licences. Until that changes the SP is locked.
I do understand GF's position to prove up the numerous assets to warrant not only a granting of production licences, mining operations and investments. But that just means we just need to acquire indefinite patience.

Star

Its nice to read a morning post from you that for the first time since I joined this site; this is not in RNS form. I welcome the refreshing change.

"Machine gun posting" in my understanding is not in violation of the T's & C's here. Evidently the posters who have been using this site for a very long time, have a established their own etiquette and anyone who doesn't use this implied etiquette gets labelled and chastised by the same names. I have noticed a specific order of hierarchy of solider ants, which I do find amusing. As when their efforts are unsuccessful, the next line of defence takes up arms lol.

I do find it hypocritical to slander the posters who are only here to "manipulate sentiment" to make a quick buck, when one posts a detailed RNS like message every morning stating why BPC is such a strong buy for newbie investors & LTH.

From my point of view you guys are doing exactly the same thing, just on opposing sides. One could the take view that one is attempting an LBO & is trying to convince other investors to support ones motive...
Luckily I am not of that opinion.

The SP breaking out of the current trading range is coming a week earlier than I thought it would, no complaints here !
With a successful outcome of S2, a new SP floor will be set. I will let the market tell me where it thinks that floor is.
With the corporation update lining BPC's ducks in a row, the path to organic growth is clear. As long as nothing goes wrong, happy days. :)

N.B I am picking a level of frustration in that you now find it irksome that I reply to almost every one of your morning posts with a disagreeing or opposing opinion or argument. I think the appropriate word here would be "insubordination". I apologise if one feels as though I am challenging ones authority.

Wow that was a quick flip. I thought you were defending the system.

Bully, I appreciate the begrudging explaination. I don't understand what is so hard in this age for the correct information to be logged regardless of who or what system is displaying that information.

I actually do not accept the explanation that a computer has to "try to guess" whether a trade was a buy or sell. If that information has to be protected under a specific legislation, ok I will accept that.
I accept that you understand it even though you state it is not that simple.
Whatever platform one uses to trade, one has to select a Buy or Sell order. That information is logged as such. I don't understand why that information is not available to the market & we are left to make a best guess.

I notice a 1 code trade though. Let's see if any news is released in the next few days.

Vol. Sold: 35,436,020
Vol. Bought: 29,120,530
But the SP rises 8%?

There is really no reason why the accuracy of these trades lead to false logs/reporting.
Are these trades really logged by computers or a human who marks these trades individually depending on their interpretation?

Bully I am confused as to why anyone would compare midcap stocks producing 10,000+bpd with a company producing 450bpd.

People are free to invest in whatever stock they choose to regardless of how much they have to invest, whether you think its a good idea or not.
People are free to discuss those stocks you have mentioned on their respective boards.
High risk high reward is self explanatory.

By all means give your opinion on the stock but suggesting what investors should or shouldn't do is a violation of the T's & C's.

Piers, the way your brain works amuses me.
I have noticed there are intellectual posters tiers here.