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I be been in since end of last year, so sitting happy on a 4x even with the drop . I suppose you could say I feel like I’ve lost one of me bags at the airport, I’m sure it’ll turn up just as we’re about to take off.
Couldn’t help myself. Sorry
Not cry babies, just straightening up some of the misleading things that new hopefuls get to read on here, like look at this from yesterday
a second well is being planned to drill at another location. A partner will come onboard to drill the well now that oil has been proven to exist. The target will now be the deeper Jurassic play as per the East Gulf of Mexico, where commercial oil has been discovered.
Show one link that proves any of that to be true Page. CEG haven’t even a licence at the moment.
Don’t think it will be that dire, actually think will end blue today and move up again from there.
NellyB
Pre November shareholders were informed that the drill ( approx cost of 21 to 25 mill $ ) was fully funded for a 45 to 60 day drill. Covid was present and allowances had been made. So please tell how with the drill now costing 45 to 50 mill $ was it ever going to be funded even with the deals supposedly in place at the time, we were only there 50 days. We were fed the dream by the BOD and they failed to manage it, simply out of their depth Shareholders got caught hook, line and sinker, since Dec no one has been able to sell without a loss.Only ones that will make on this is traders over the next few weeks maybe.
Maybe they might think they will win, This belief that the BG held BPC back from drilling earlier, so shouldn’t pay what it owes, pray tell when would BPC of had the money to drill ( on their own) they weren’t even funded in Feb with drilling costs apparently half price. You can’t have a agreement/ contract and then just send a cheque in the post for a figure that think you should pay just to cover your ass
Hopefully 35 was for most the buy in price, nice to see this go back North over the next few days. Not complaining though, the sizes of the buys shows the right people are interested.
If they have failed to even sort monies for licences ( as we are found out 3rd party), hate to think of other conditions they may not of met (or what we don’t know about ). If it had a positive out come, as a company would you not be forcing the issue or at least reporting events to the shareholders, or is it a case that the carrot under the PI’s nose best drag on as long as it can. 5 months since P1 and still apparently doing an autopsy. Let the dreaming go on for ever.
Please stop, 5p even on eventual good news from S2 how much is 200bopd worth. This won’t get past the offering price of 3.5 before the plug is pulled with profit takers and people just jumping ship having had enough. By then they would have had the funding bowl out for expenses that have only just come to light, leaving any new investors holding the can yet again . Rinse and repeat,MHO if it held at 3p for more than a day would be surprised
Plenty of communication and one to ones when the begging bowl was out. Got what they wanted now back to the old ways, treating shareholders as expendable cash cows, there’s always some new ones that will be drawn into the trap.
Tiburn
From the Nine well are producing great, leading up to that a bit Woolley. Not knowing the cost of S2 as yet (with it running over ) but call it 3 mill, so a well needs approx 12 months of production to say cover it’s costs. With the Company unable to be clear of its present financial position (what do we owe )Shareholders can only presume the cost of the initial drilling spree S3 to S9 be funded through more dilution and funding. If the BOD had a past of being upfront I’m sure the SP would wouldn’t be where it is now. To be totally honest best move for Shareholders here would be a BO by someone that can develop their assets.
SvS
Sue for what. We did not enter a contract with the BG that we would finance a joint venture. BPC paid money for licences to explore for oil in the Bahamas. Those licences are up for renewal .Because we blew 150 mil that was up to us ( a lot of which would say was unacceptable waste )Like renting a flat when the lease is up, no good crying that you just spent 10 grand decorating you don’t own it you leased it and the landlord can at the end of a lease period terminate the lease.
Last of the rant. We all thought Simon and the BOD taking up shares in the offering was a great sign of confidence, who has paid their wages the last 11 years so who’s money was it, not to both because now they have the vote from shareholders to print as many shares as they want over the next few years. Rinse and repeat, not calling anyone a mug but the last 16 months I’ve been one. EOR