Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
I’m getting used to being referred to as a tasteless carbonated beverage! I’m now a long distance Spiritefan but will make a pilgrimage to the ground on 7/12. When I started buying shares in BPC we were League 1, now we are nearer the bottom of the National League than the top!
FC I appreciate my syntax might not be up to your standards but I note you are unable to address me by my correct alias. I take comfort by the fact that it appears my comments elicited a reasonable level of support. I had the pleasure of meeting Alan Burns on several occasions and I am entirely comfortable with my decisions with regards to my investment and the individuals I have met during the past 7 years. I will continue to research issues pertinent to BPC and will post such information accordingly. I look forward to a time when you post an item of information that adds benefit to this forum. To date, I have not had this pleasure.
JTK, Eytan and Stephen Bizzell are both non- execs at Armour Energy Ltd. Stephen Bizzell is also a non-exec at Dart Energy where Simon and Eytan used to work. Dart was spun out of Arrow Energy following sale of most of its assets to Shell. This happened in 2011 after which Simon joined BPC. These guys are old friends and colleagues, hence the deal. I can’t seem them walking away - they know the risks and there’s a lot of mutual trust and respect here.
FC can you please refrain your comments to issue relating to the Company and not restart your verbal barbs and attempts at humour against those who have attempted to do so on this Board and not engaged in personal diatribes? It was bad enough on iii but at a time of great anticipation for the Company, we really don’t need it.
Tex & Pete, I know the guy, not saying any more other than it’s a genuine purchase. Believe me or not, it’s up to you.
It’s definitely a purchase made by an individual, not an institution. I’m aware of the guy in question. I wish I had the balls even if I had the dosh.
I had a long chat this morning with a senior partner at my local stockbroker . He stated categorically that nobody will know what their allocation will be until tomorrow morning. The Company has released stats on how many valid applications have been received and shares issued. Given it’s only half of what they wanted there is no reason why any valid applications will not be taken up. However, nobody will know for certain what they are getting until tomorrow as per the OO RNS.
Someone must have confidence. Purchased just before 4pm.
I’m watching........
Gulf oil spill, unhelpful Government, oil price crash, no money, no regulations.......its taken until now to align all the necessary requirements
IK - not necessarily, this is just tidying up resolutions agreed at AGM. It sets the scene though, but we’ll see what happens on the 5th. Let’s hope it’s fireworks!
Like many I took up my full allocation and added a significant percentage as an excess application. All money has gone from my account but as Riceman says, all brokers had to demonstrate the full funding was available to be considered for any excess. When the allocations are known any excess cash will be refunded (but not straightaway!). I’ve sold other shares to realise cash so it’s a toss up whether I’ll get to buy them back at a profit or loss. It’s starting to look unlikely that Xs applications will be met in full, but in the overall scheme of things, I’ll not be disappointed if I only receive my 1:5 entitlement.
Molokai- I’m afraid just because all money has been taken doesn’t mean you will get all or any of the xs. If the OO is oversubscribed they will scale back allocations and you will get a refund in 5-10 days, depending on your broker.
No. When issued the new shares will be identical to existing ones. The outcome of the OO will be known on 5th. If you think it’s going to be successful it might be worthwhile buying before the RNS at 07.00. But DYOR!!
Piranha- the OO was only available to existing shareholders so your only option now is to buy in the market at 2.1p or whatever. If you’ve been following this board you will understand that the Company needed to raise £7m via the OO to fund first drill. By supporting the OO rather than buying existing shares the shareholders are contributing the NEW money needed. IMO the issue will be a success and the shares will rise significantly next week when the outcome is concerned, but you should be doing your own research into the Company’s prospects.
Tex - it’s in the last RNS. Announcement of outcome of OO is 07.00 on the 5th.
5th November but a number of brokers will be able to assess its success the closer we get to that date.
Good2Bhere - like you, I’ve been on board since 2012 when my first purchase was at 8p! I’ve averaged down since as we’ve waited and waited and waited... for something to happen. Now we, as shareholders, can make this happen IF we put up the £7m or so necessary to complete funding for first well. If successful, the OO at 2p will be a good investment as the SP will increase, even prior to drilling. If you still think oil will be found, the sky is still the limit. The new options and the participation of management and board in the OO mean there is alignment of interests. As armatrading has said(and many others) support for the OO makes the drill more likely to happen. Buying in the market does not. That’s why I’m supporting the OO with 700k shares.
Monk - all the info regarding dates etc is in the latest RNS. You need to chase your broker If you haven’t heard anything from them yet. I received confirmation from mine yesterday and have responded with full allocation plus a further 120,000 shares.
PI - I hope it is left to the existing shareholders to make this happen. It’s like the early days of the railroads opening up new frontiers, when folk risked capital in return for the chance of gaining long term rewards in an age where day traders and shorters hadn’t been invented. Bring it on!