Member Info for somm

"the odds went up to 43m to one"

So with a 1 in 5 chance of success at WH doesn't that then give us a 34 million to 1 chance of a discovery, like for like.

Oh flipping heckers! Chuckle...

Numbskull, is tbe worst day trader ever to eject himself on these boards, he has a severe lack of understaning of what he's investing in, cough, trading in and is immoral on all fronts. Ignore this low IQ baffoon.

Was lead to believe news on ELM in three weeks time as it happens it will end up being nearer to three months, probably longer, and bought several trauches which are significantly down atm, hopefully these two stimulated zones come up trumps.

And there lies your answer.

The Russians are pulling the strings here, AST are a threat to their coffers, and will try to delay/prevent anyone trying to get a slice of their 99.9% market share.

Ten times more buys than sells today and we're down?

Got to be in it to win it.

After 4 months of intense data analysis and no exploration deal signed and licenses coming to an end it's looking pretty grim, I think most of us realize this, especially when there's no chance of a spud now until 2020.

So there will have to be another cap in hand funding round to keep the lights on soon enough and in time the majors devorce has been forgotton for another player to emerge.

The question is why didn't the major want to drill any of the four licenses? Four!

Either there wasn't anything worth drilling or SP couldn't bear seeing the WI axed to 10-20% (very lucky if they were left with anywhere near 20% imo), at the 11th hour I think he would have taken any deal, but it would seems no offer was made, which leaves the geology case.

Forget this nonsense about the BG not wanting a drill to happen, they do.

So with a major not wanting to drill and finance being unlikely, I'd guess the only way forward is for the BG to finance a well with a large WI 75% (being kind).
Otherwise the merry go round will continue.

If you were a major and you liked what you saw in the data you'd paid a million bucks for wouldn't you want to strike a deal no matter what and continue with the EA for another 2 months to thrashout a deal?

How long has it been now since the major walked?

Where are the other interested oilers offers, what are they waiting for, are they even interested now the major has cut and run? I mean they're only across the way......

If you read today's Far Limited RNS, for example, it states the well will be a tight hole, a very important well for them, but there's no indication of that with WH equally a very important globally watched well too, which I hope means they will announce live oil shows etc. (if any) on the way down. It's a quick drill so I'm not expecting any news on the way down really, but fingers crossed there is and it's 'light oil shows', wouldn't that light the share price touch paper.

Punt with massive multi bagger potential.

GLA.

Yes the bright area anomaly is what attracts me to this the WH well and the fact it's smack bang in the middled of the kitchen.
Potential here is huge with 480mmbles being confirmed you're looking at a 40 bagger!

Definitely worth a punt.

Jimtheknowssfa,

That's all well and good about the oil industry being cyclical, but imo they've got sfa otherwise the major would have signed a deal faster than Numbskull could reply to a post that differs from his worthless opinion.

I see Numbskull the bohemian limbo dancer is still here, how low will he go with his endeavors to scrape back some of his losses with his ramptastic posts, cough! paper losses..... chuckle chuckle.

1p ?

I think you are being excessively optimistic! Especially that 2p ramptastic fraudster.

Article states SP failed to get an agreement and AGM attendees say he hinted that the reason for the major walking was the geology, so are now looking for other suitors and or financial deal.

It's been a month! where are these Companies new and old who have been looking at BPC for years, puzzling?

And I'm shocked that some numbskulls on here persist with their persistent attacks on any poster having a different opinion from them, extremely shocked I tell you, so so shocked and even more shocked that they haven't been banned yet., it's shocking!

Moderators where are you?

Thanks for posting that article page.

"the oil industry veteran indicated he was hardly losing sleep over the failure to pin down a lasting deal.''

I think that now puts to bed that the major did in deed walk!

Same old same old, however, something form the straw clutches.

"A Bahamas-based oil explorer yesterday said it was now locked in joint venture talks with “multiple parties” after a “major global oil company” ended their exclusive negotiations.''

(Think the author meant to say "The'' not ''A'' Bahamas-based.....

Locked in? haven't they been locked in for years (NDA's for a peek at the DR), but 'now' locked in? I guess that means they're back having a sniff?

A slither of hope then.

Got to say SP doesn't halve spin it with his repetitive fluff twining........

I would also agree with the latter.

"they didn’t feel exclusivity worthwhile''

SP hinted (nearest he could come to - truth-out) at the AGM that there was an issue with geology, the reason the major walked, which I and others had previously noted being the most likely reason for the major terminating the EA.

Be very careful of the ramptastic and very dangerous rampers on this board, especially those who make up for over 50% of posts on this board talking absolute carp and can only name call, because they know no better. The delusional numbskulls on here with their own agenda and lies, and talking up the share price in an effort to recover their losses due to them having made a horrendous investment decision..

If the Company says the major has elected to end the EA and the Company are now looking for other suitors and financing options, and the share price tanks 80%, the real facts, what does that tell you? if you listen to the numbskulls on here they will clutch at straws and make up stuff like the major is in talks with a consortium, which is hogwash, why would a multi billion dollar major give away 28bbmls.

If there were so many interested parties waiting to pounce before the major walked then where are they now after a months hiatus and offering up their $1 million bucks?

Ti

You were doing well until this,

"Also, from other posts general positive feeling from the AGM by BPC - if the Major had walked it would be obvious in body language and tone from 3 BPS staff over 90 minutes if a cover up was occurring, this nuance would have come out surely.''

You did note a Director sat there for 1.5 hours and said nothing.

Please clarify which movements he may have made in your opinion that a would indicate all is well with the Company and the other two Directors to boot............ so I and other can use these body language signs to our advantage with this and other stocks.

Fidgeting
Nodding
Picking snout
Winking
Lip curling
Snoozing off
Grimacing
Laughing out loud
Rolling grey belly button fluff
Other

That leads you to think:

"So to me this still looks like the Major saying to BPC, ok we are interested but need other partners - open it up and see what interest is received - perhaps they have an understanding already that come what may, 50% is retained by the Counterparty in any deal made.''

The key evaluation to me T is that Potter hinted (hinted?) that the reason for the major walking was the geology.

Hint? He knows exactly why the major walked, but for obvious reasons he can not say.

You don't walk away from four licenses that potentially have an average of 6 billion barrels of OIP in each.

Why would he say/ hint that the geology could be the reason for the major walking, was he twitching at this point or rolling a bogie?

Thanks for that Pete, much appreciated.

You'd have thought those on here alleging to have attended the AGM would have happily posted something as insightful here, but hey you can't lead a donkey to water.

It was pretty clear to me, well before the AGM, that there was a strong possibility the majors interpretation of the geology after four month studying the data set was not as good as they'd hoped for hence the reason they elected to cease the exclusivity negotiations. Having read your post from the P.B I can pretty much take my initial thoughts as correct. imo. and backed up by BPC broadening the search for a suitor and financing options having been unable to finalize negotiations, something you wouldn't expect if the major was still at the table negotiating a deal.

Anyway thanks for sharing what those who said they went were unable to due to them not actually going, and who will now pick up on your post to try and confirm what was said in it as their own interpretation of the AGM, because that's all they have to go on really.

For those of us who wanted to know what was said at the AGM we thank you for sharing that post, but for those who verbally attacked us for asking for some incite into the meeting I would like to ask them why are they here if they don't want to also know what was said, by attacking those who do.

What were they afraid of? finding out the major has walked, the Company are back to square one? MQ have 3 months left?

Well now we know.

Djj,

You said the AGM was very very positive, why?

If your investment decisions are based on facial expressions and the way a CEO stands them God help you.

Now you have finished with your sissy fit answer the post.

What questions were asked and what were Potters answers that made the AGM positive in your opinion?

Djj

"Just left the agm and in my opinion was very very positive. May I’ve been potter playing the game but his facial expressions and demeanour and his answering of questions (which went on for a while) were very very positive''

I think you are mistaken.

The most likely reason for his facial expressions (pmslvvh) and his demeanor (oh please!) was most likely due to him squeezing out a silent but deadly one in the hope it would knock everyone out as the Q&A was starting. Curry on the 19th no doubt.

Now then, to all those who attended the AGM who said it was positive and:

"and his answering of questions (which went on for a while)''

Could you all please list the questions asked along with any answers Potter was able give?

Thanks

Why did the major walk, was it because of the licenses geology?

If the major hasn't walked, why then are BPC seeking funding/ financing?

If the major hasn't walked why are BPC broadening their search for a suitor?

Why didn't BPC and the major finalize a deal?

Will BPC still be demanding $1 million for full access to the data set now that a major has walled away?

Did BPC turn down any offers made by the major?

What was the reason for not being able to finalize a partnership, geology/ WI?

What was the reason the major gave for not continuing further with the optional 2 months of exclusivity negotiations.

Where are the BG up to with EA permit?

How likely is it the BG will extend the licenses?

How long do you expect current cash levels to last before needing to raise more cash?

How many companies are currently looking at the data room and why has no one else come forward to analyse the full data set after three weeks since the major walked if they were so interested beforehand?

Have a combination of companies shown a joint interest?

Are you preparing to delist?

Why do they need to halt trading for raising some cash? don't often see that for a reason to halt trading.

"The TERMS of the Agreement (as extended) REQUIRE BPC and the Counterparty to CONTINUE to work exclusively together to FINALISE a detailed TECHNICAL EVALUATION of the Company's LICENSES and SEEK to develop a commercial FRAMEWORK for a POTENTIAL TRANSACTION'

The next RNS said the major had elected to end exclusivity negotiations.

No transaction transpired and now BPC say they are broadening their search for a suitor and financing options.

And the reason for this IMO is the TECHNICAL EVALUATION wasn't as good as they'd hope for.

Now then Jim, you say after a lot of fluffy nothings.....

"Therefore, my view based on the information available at this moment in time is ‘bullish’'

After that comment I can only think you've banged your head on a BOP!

Bullish??? What RNS have you been reading that makes this stock bullish in your opinion, please show me.

Oh dear, I can hear a pin drop.

Can't believe they're both saying the major 'has walked' away and BPC are back to square one!

They must have been reading my posts on here, because didn't I say all that earlier to those not listening and the puppy kicker, oh and Numbskull the ramptastic idiot whose gone and sunk his life savings in here after a 70% drop on the hope the major didn't walk, which they have done in every head out of the cloud pundits opinion.

Hmm yes I'd agree with them, very concerning for BPC, and now as I've said before they will have to wait for a new oiler, which could take many months.

Like I said, who's going to pick the ball up now after a major has elected to walk away?

Some posters on here just don't get it, re the major has walked, they should listen to educated reasoning, they might like it?