Member Info for Starchild

I just purchased more BPC stock as I am looking at medium term, not today or tomorrow if SP hits sub 1.5p. However, everyone needs to make their own investment decisions. As I see it, the bare value of this stock in a firesale, is 2-4.5p as stated in my previous posts. Summary of which is:
1. The intangible assets of the company as approved by respected PWC auditors (refer to 2018 last accounts) is worth more much than today's share price.
2. If for any reason the Bahamas Gov do not extend drilling in the event the company cannot drill in 2020, they will face a massive lawsuit due to EA procrastination. The Bahamas is under the auspices of the British commonwealth privy council, not just the Bahamas supreme court.
3. I believe in this stock even if drilling doesn't happen in the short or medium term

I respect most persons on this board. If you disagree with above I welcome alternative ideas, however please do so without trolling.

Although I will be disappointed, it's not the end of the world IF drilling put back till 4th quarter.

June advantages:
1. 'ship is on its way' will likely at least double the SP according to analysts. 8.5p was predicted as possible when SP 4.5p
2. If oil found sooner, brill

October advantages
1. Potentially less risk from Covid-19 to the crew, due to herd protection. Potentially good progress for a vaccine
2. Markets may have calmed down
3. Saudi/Russia may have agreed to quotas and POO up
4. Due to all the above, more chance of a farm-in

oil has soared overnight because the market likes the stimulus efforts.

IKing, If you cornered the market, sounds like a lucrative biz in the making especially if you create a mini OPEC. The Brits, Irish, Dutch and Belgians love their chips. (I didnt include the French as their chips are a bit too skinny for my liking) If you IPO/float let me know and I'll invest. It's also very Vegan-esque which is the in-thing.
x

I wonder what would happen if the UK, EU, USA, China, India, Australia embargoed Russian and Opec oil UFN. One private call from Trump to MbS stating this is an option, should get a result

see https://oilprice.com/Latest-Energy-News/World-News/Senator-Calls-On-Trump-To-Embargo-Russia-OPEC-Crude.html

According to Borris in Times article, a blood test will soon be available to identify if someone is immune (had the virus but didnt know it). This could be a game changer and get the world and stock markets back to some normality. Test will be similar to HIV antibody test. I'm suprised this is not on front page headlines worldwide

June advantages:
1. 'ship is on its way' will likely at least double the SP according to analysts. 8.5p was predicted as possible when SP 4.5p
2. If oil found sooner, brill

October advantages
1. Potentially less risk from Covid-19 to the crew, due to herd protection. Potentially good progress for a vaccine
2. Markets may have calmed down
3. Saudi/Russia may have agreed to quotas and POO up
4. Due to all the above, more chance of a farm-in

What are your thoughts?

In my opinion the 2p price is very much undervalued based on monday's RNS. I believe what is causing very low trading volumes today is no one wants to sell for a lot less than 2p or risk much more than 2p while awaiting developments elsewhere.

Although oil price is of relevance today for possible farm-in and in 5 years if oil found, it is not helpful POO it is $25/27 today. Further jitters have been felt because DOW/Nasdaq futures have been suspended today. And of course COVID-19 which is causing havoc physically and financially. China is starting to get back to some normality with relatively few cases being reported daily compared to Europe and USA. Some say the outbreak outside China will peak in April/May. Others June.

All said and done, I still believe in BPC and that 2p is an undervaluation in the medium term.

Bahamas 1 reported case, no deaths. See https://www.worldometers.info/coronavirus/

Thanks Parpaing. I'll stick to bottled water for now, assuming it is filtered. BTW , this morning has been one of the most borring openings to BPC trading. I have been watching my fingernails grow

iI'm not a doctor, however I doubt a virus can live in water for long, otherwise every city in the wolrd would catch the flu every year. Germs do live in water, eg cholora

According to Reuters, Iraq's oil minister has formally calls for OPEC, non-OPEC emergency meeting. Apparently its Sec Gen has the power to call such an extraordinary meeting, which is great assuming Russia and Saudi will take part in person or via video conference.

Yesterday, based on the positive RNS the SP soared to 2.8p before retreating. It could have been caused by day traders who bought heavily in the morning's momentum, executing stop/loss orders later in the day.

Positive developments:
1. Although a vaccine is some time away, there have been positive developments on Covid-19 treatments using a combination of existing approved meds . So older people such as me can live in hope in case of infection. See https://www.dailymail.co.uk/news/article-8115879/COVID-19-Australian-researchers-CURE-coronavirus.html

2. The USA is putting pressure on Saudi to stabalize the oil price. (a) https://www.sullivan.senate.gov/imo/media/doc/FINAL%20LETTER%20U.S.%20Senators%20to%20HRH%20MBS%20031620%201.pdf
(b) It could cost Trump the november election if thousands of energy workers in swing states are unemployed. Commentators opine that Putin's choice would have certainly been Saunders, however it's a close call between Trump and Biden, as far as Russia is concerned.
(c) Biden is not a fan of Saudi policy.
Based on above, there is incentive for Saudi to stabalise oil prices, especially as it the depressed price is hurting it financially.

Today is another day. Despite Covid-19, stock market corrections and the oil price, I very much believe the stock is undervalued at 2p. But that's just my opinion.

Have a good day

Interesting article. Although Saudi 'comfortable' at $30 oil price, and will sell more reserves and increase production in April/May, it appears to imply that from June the goal posts could change if Russia and Opec agree to a deal on output. Especially if many US Shale producers are forced to shut down or get bailed out by Trump, prior to next OPEC+ meeting or before.

https://www.arabianbusiness.com/energy/443084-saudi-aramco-likely-to-maintain-high-production-through-may-ceo

Depending how market reacts, and day traders profit taking, could go over 3p today/tom

.....'Structure: An initial draw-down of £2.7 million (with £2.43 million cash received, net of face value discount) to be made IMMEDIATELLY......

Unless it means 'available', something is going on otherwise it would not be immediate.

quite upbeat

I agree Leno will not want to dump at a loss. Even if it did,, it's only £700k worth of shares @2p, which at todays market cap is around 1.7%. Futhermore, even though a clause in the CLN states....' Conditions to future draw-downs: if the Company's share price falls below 2 pence for FIVE consecutive trading days, there can be no further draw downs; and no material adverse events subsisting at time of draw-down.' .....CLN can still come into play when positive news materialises.

I topped up. BPC does not have short term debts such as Tullow Oil (TLW) down from 254p to 9p in a year, or debts such as the USA shale industry has. BPC has huge potential. Even if it takes 2 years to drill a well, although i hope sooner.

I f you are referring to my 2-4.5p post, please read the 2018 PWC accounts in DETAIL and home in on intangable asset statements. A company is worth what anyone is prepared to pay for it. However if you were a major, IMHO, you would be very tempted to buy all BPC's rights and research for £40m-£90m. As a shareholder i would object to this price based on future potential.