Member Info for Spiritefan

Jim, the relationship between Bizzell and BPC is stronger than many understand. Eytan Simon and Stephen Bizzell goes back many years and Eytan and Stephen Bizzell currently sit on Boards together. This isa joint venture between friends and colleagues, not your normal banking/ client transaction. All are committed to a successful outcome.

I’m saying that when the draft agreement was instigated, the specification of drill was provided and it was agreed that the actual rig identity would not be made known until later in the process,
We did a Thomson’s”Square Deal” holiday to Cyprus in the 90’s and didn’t know where we were going until arrival. As you say, cheap as chips.

On this occasion, I would wish to support Mr Fatalcharm. The rig rate was agreed on the basis that the exact identity of the rig would not be known until the last possible date. It might be 1 of 3 of similar specification. However, that date is surely not long off now as the final detail in the EIA requires this information. When the Board have something to say, they say it. There must be a million details to tie up by a fairly small team, so we must be patient. When the next news is released, I’m confident it will be positive.

Even Malcy is talking in terms of when to buy as opposed to if....

Remembering of course that James Smith, in addition to being a highly respected statesman and financier, is also BPC vice-Chairman.

Who will be replacing Eddie Shallcross as Iom Director? I’m available for a very reasonable fee!!

Inconceivable- the Bonds are referred to in a commercial presentation dated June 2017. Other than that I have as much knowledge of them as you do. I assume they are still with the Company.

Casshy- a) it wasn’t a rights issue and b) any comparisons with Sirius are so wrong that they completely remove any credibility from your opinions. Please do some research!

Tex, RNS7000 is the one you need. Paraphrase of conditions precedent is:
1. Issue sufficient shares at 2p to cover drilling and other operational costs.
2. Obtain all necessary environmental authorisations from Govt.
3. Have detailed, signed contracts from reputable suppliers for rig, engineering and other services.
4. Received approval from shareholders at General Meeting
5. All key employees locked in for duration of drilling contract.

So I’d say that the outstanding conditions are in relation to the environmental issues and the detailed contracts with Halliburton and rig providers.

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!