Member Info for Spiritefan

For those interested, my buy at 08.25.21 at 4.1 was listed here as a sell.

One hopes so. With the confirmation of drilling details now potentially only hours away, following confirmation that funding is in place and the EA approved, I’ve allowed myself the luxury of a small purchase at 4.1p which I believe is as safe a bet as AIM permits. GLA !

Dubed, deadline for CLN sign off is Monday March 9th but I’m hoping Board won’t take it to the wire. I’d be expecting an RNS to confirm all is well sometime the previous week so Saturn West can commence its short journey to the Bahamas in time for beginning of April. But wtfdik etc!

PI , when I referred to “you”‘I do not mean you personally but the group as a whole! At the 2019 AGM Simon cited the “frontier risks” associated with the project as being, in his opinion, the reason why a major hadn’t committed.

PI, I was at the 2018 AGM and asked many questions in this topic which was the big news at the time. Simon looked me in the eye and said several times to “read the RNS” and that nobody had “walked”. I’ve posted this on several prior occasions but you either believe it or you don’t. Now that the reputation of the Board has risen, perhaps they will get more credit for their efforts.

JTK is absolutely right. The MF is a sideshow designed to show goodwill to the locals. The wealthy ones will have bought shares anyway and the fund is a questionable way of getting involved, given the significant trading restrictions. IMO it’s very unlikely to be fully subscribed as we know it wasn’t last week and I’d be surprised if 3 days made a huge difference. I’m saying 50% take up. It’s a bonus cash wise and we move on to the EA, drilling contract and CLN news with the prospect of a new partner ever present. GLA

The CLN will be concluded on March 9th from memory. I can’t see any drilling contract announcement ahead of then.

Sorry - junior admin “jobs”

There are a couple of points to remember- firstly, the MF closed at close of business on Friday evening and Bahamians in junior admin Rome’s are not going to work over the weekend just so we get an RNS 07.00 our time Monday. Secondly, the offer was open to Bahamian residents who may or may not live in the Bahamas. This widens the scope considerably. We’ve seen selling on Friday and Monday and buying today. I bought on Friday and am looking forward to Thursday! GLA

Good or bad. Too many applications or not enough?

Phoebus, if they were just a loan note provider I’d agree with you, but in the light of past relationships between the senior management of BPC and Bizzell I don’t think this is the case. My belief is that Bizzell were willing to take a position in the company. I might be wrong and if there is an opportunity to refinance at a reduced cost then obviously I’d be happy to see this! All IMO etc

Jim, the animosity between Simon Potter and TW goes back a long way and drives all the drivel he spouts about BPC and the CEO. As you say, he was made to look an even bigger idiot than usual with his ranting about fund raising last year. The Company has quietly got on with the job in hand and we are now poised to drill, with huge expectations. If, as a result of market sentiment, we are able to reduce borrowing costs, this is a very legitimate aim and further underlines the Company’s enhanced prospects. I hope the savvy people here will do what they did last time and ignore him. Many chose to pay heed to his spouting last year and lost money as a result.

News update only 7 days away!

Many LTH’s would say 4p is just the start but DYOR!

Hi Phoebus, it’s a very fair point and one that nobody can answer with certainty. However, if you read the research published here by Jim the Know and myself relating to Bizzell and it’s relationship (past and present) with Simon Potter and Eytan Uliel you may conclude that this is not just a short term finance provider but a long term partner. If this turns out to be the case, then there will be significant profits for all. Had we gone down the more traditional farm-in route it might be easier to understand but we would already have sacrificed up to 60% (maybe more) of the asset.

Source: Dailymail.com

Huge Tsunami heading for Mexican coast. It looks as if Bahamas will be unaffected after reading initial report but thinking of those who will.

Jim, as others have commented I’d be very grateful for your continued presence. SF.

Add Bizzell and Eytan currently non-execs at Armour Energy. Re the murder, I think it was Eytan Uliel in the conservatory with the lead piping.

Great post Jim. Add in the strong relationships between Bizzell, Simon and Eytan and you get a better understanding of how this has come together.