Member Info for somm

>aren't too bothered<

Par,

CH at Ascent says they have interested companies who see the bigger picture and are too bothered about the EA and they are looking at buying the Company.

So why would it not be the same here, the EA permit will eventually be rubber stamped, that is not the problem here, the geology is the likely candidate. imo.

And if a major had signed, especially Shell given their relationship with the BG, the EA would be fast tracked imo so long lead items could be ordered etc. which will take at least 6 months to receive anyway.

BPC are back to square one imo.

News of another major picking up the ball and then doing their own research for a number of months would further jeopardize the license renewal, though I doubt the BG would say no to renewing them having a major on board.

Problem is will anyone pick up the ball now?

Bryn,

Each license would be drilled on it's own merits. And the first well would likely have to come trumps due to costs/ COS.

The low OIP figure for each license may on have a RF that could yield a couple of hundred million barrels of oil - heavy/light?

Which may be too borderline re the risk of a duster/ commerciality, which could be why the major has elected to end negotiations.

Bigoiler

You're living in dreamland.

Get over it, BPC are now looking for another oiler to partner them, which is now an even bigger struggle having had their licenses evaluated by a major who have said no thanks.

Move on mate from this crazy notion that this major wants to drill their licenses, they don't.

It's as plain as the nose on your face once you wipe the mist away.

The AGM will prove what I and others have been saying.

"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 licences and seek to develop a commercial famework for a potential transaction''

Evidently the 'transaction' never transpired and the major walked of unimpressed into the sunset, but some on here think they are still negotiating behind closed doors.

They're still stuck in the headlights like a frozen rabbit.

" the major wasn’t wowed by what it saw ''

Ignore them Mono they still can't get over the fact the major has walked and are living in cuckoo land.

So you reckon next week?

Is this the next well in line, when is it expected to spud? Thanks.

"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 licences and seek to develop a commercial famework for a potential transaction. The work undertaken to date between both parties will therefore continue during the term of the current extension. Further, unless and until agreed otherwise, or a definitive commercial arrangement is agreed between both parties, the identity of the Counterparty will continue to remain confidential.''

So looking in the rear view mirror they were unable to finalise a detailed technical evaluation of the Company's licences and develop a commercial framework for a potential transaction.

In other words the major international oil company walked., no matter how you want to word it.

Now will the clowns please hush....

Is it possible Private_Investor has long ears a red nose and long floppy shoes? Evidently so.

P.I.

I haven't replied to you about benefitting? Are you completed dense? The points I am making have evidently gone straight over your head pal.

I'm not like the idiots on this board who ramp and deramp depending on what side of the fence they're on.

I tell it as I see it, if that doesn't fit with you then put me on ignore. Simple.

Benefit from rise/fall? Jffs it's like being at school with some of you.

Ollie,

"The company with which we have been in exclusive negotiations has elected not to extend further the period of exclusivity''

AKA, elected to cease negotiations. Got it?

From Potter himself in the RNS.

Definitely not definitively.

Scs,

Note: imo/ my thought/ ?. Do you not understand English and the meaning of opinions?

Can you point me to where they are still in talks as you allude they are? the share price crashed because they are not in talks, they elected to cease negotiations, what does negotiation mean to you?, when is the fact going to sink in that they have elected to end 'negotiations'?

The oiler ELECTED to cease with the exclusivity negotiations and Potter has now opened the door for other oilers.

The share price crashed 70%+ because the oiler elected to give up negotiations, when are you going to understand that the share price has crashed because their not in talks any more?

That oiler has gone, gone, gone..... next oiler please stand up.

They've gone not because they couldn't come to a deal (they would have done a deal anyway which way they could for a WI share of 28bbls of OIP if they thought there was a good chance the oil was there), not because of the BG, but because the data room analysis mustn't have matched the CPR findings. They would have gone over the potential rock source with a very fine comb. (remember 88e before they were renamed, there CPR said the oil structure of the west coast of African had potentially 8 billion barrels of oil, there were oil slicks/ gas plumes blah blah blah.... not a drop of oil, a complete duster, you'd have thought an estimated 8 billion barrel structure would have at least some type of oil, you don't know until you drill it that's for sure, but it seems to me this oiler didn't want to take the chance).

Anyway like it or lump it that's my thoughts.

At the AGM the BoD will have to explain why the oiler elected to walk away to some degree, hard questions need answering properly.

Will they still be demanding $1m bucks for access to the data room, of course they will say yes, but no one will pay that much now, if anything. imo.

Let's not be pedantic 'elected' is another word for having walked away, hence a 70% share price crash.

Djj,

Whose going to pay a $1m bucks now that an oiler has walked after researching the data set for four months? and what would it say if Potter significantly reduced that fee to attract new oilers? imo it would confirm what I've been saying i.e. the Super Major that walked didn't think there was enough commercial oil there to take the risk on, and so Potter may give others the opportunity to at least have a look at the data room while they're still afloat.

What about the oiler that's walked? They have ALL the data room info, but they won't be able to share it due to a confidentiality agreement (if they did they'd be doing Potter out of another data room fee, which is very much needed). No doubt some geos will still be working on that paid for data I'd guess.

I'll eat my hat if someone pays another million bucks.

I think the data room fee will be either significantly reduced or it will be free to look at, which could encourage a few oilers to look at the data room in the hope the oiler missed something, wishful thinking there though. imo.

So going back to the oiler whose already had a look in, they've got enough data to still mull over for a while, months ahead of any other oiler wanting to research the data room anyway.

But how many oilers do you know that have spent a significant amount of man power on researching a data room only to see them - what seems - to walk away from further researching the data set while the opportunity is still there (two more months) or making an offer whilst they are in exclusivity negotiations. Surely with this oiler having exclusivity and being in the public eye any offer made would have had to be made known to investors, to me there hasn't been one.

And why would this multi billion dollar oiler want to bring in another company to share the £80m drill costs? They would do that after they had discovered something of significance imo and farm down their share of the WI they had after an oil discovery had been made for a significantly higher price than it cost them to drill, after all 28bbls of OIP, cough!

If this oiler has completely walked away from BPC, which it looks like it has imo, then it looks very grim for BPC indeed for the very reasons I've pointed out above.

Anyway just a few thoughts there for the pot.

Numbskull, you'd still be in the dark if it wasn't for me, now bow down at my feet and pray I keep on enlightening you.

This carcass was kicked to death by a Super Major for four months who've now walked off into the nether, this was once the ace up the sleeve stock, the come back kid stock that was waiting and waiting and waiting for a Super Major to take a WI and crack on, but now it's a busted flush having been through the Super wash.

Twist, next oiler please!

Even though there are a couple of interested parties, wouldn't it take them a few months to have a good look at the data room, before deciding on how much to bid based on potential gas, permit aside?

If that's the case aren't we way off any bids then?

And wouldn't there be at least two companies looking at the data room? who will, may, could, bid against each other, therefore would they be wanting to wait for the permit to be given first anyway, to be sure, even though CH says that doesn't matter given that the interested Companies are looking at the long term.

So even though we should get some good news over the next month is the boards opinion that we're still a while away from a firm bid being made public?

Would normally have an update on depth/ casing...... Tight Hole?