Member Info for stewart3250

Bryn,
Level 2 is Bid 2p offer 2.1p at open
1 v 1

Just listened to the interview all seems good, 2 questions,
1. What are your view on a partner, he said ongoing discussions but sounded like not easy to get a deal done as he said dealing with major oil companies or words to that effect.
2. What is this issue with the govt and saying the EIA will need to be signed off I thought that was a given, I forget the name of the company responsible for advising govt, was it Black and something.

Dutch,
Consolidation will be the last thing on their mind they need a Seadrill contract done, so consolidate we have less shares worth more per share, same market cap, laters

Morning,
Well price not moved up much on that news although I think it will as the day progresses and news filters down, so what is holding this up, I can think of a few points that people are still wary of but the upside is huge.

1. The funding is in place apart from the CLN and there was a comment about 24 months working capital in respect of the CLN, is that correct?
2. The CLN should be just signed off, why wait if they are not convinced now they never will be, get it done, I thought BPC were close to these people, just do it or get someone else if they can.
3. The main one I think is the Seadrill rig contract, get this done and all is in place as Seadrill board will have approved the contract.
I still think the best way is a farmout and I hope that happens very soon, hugely then derisked.
IMHO. DYOR

Interestking,

Your missing nothing, WHY is their doubt with CLN, the conditions have been met for funding, the environment should be fine, the only matter could be 24 months working capital but I would be surprised if that stops it.

Perhaps I am missing something !!

IMHO

I assume the similar entries must be transfers perhaps to an ISA

I don't understand why people are selling below 2p, with the placing to institutions and the OO @ 2p why sell, this should be a floor.
If they wanted to support the OO and needed funds they should have sold at 2.10p plus before the end of the OO, they now are getting less than the OO.
Seems pointless your either in or out of this and it will be huge or finished.
Those who got in at say 1p or less may be cashing in but it was a higher price prior to the OO.
Madness or clueless.
IMHO.

Did the directors take the shares up ?

Apologies I ment cost to major of £120M plus opportunity cost of £240M so £360M to buy, current shares 1.7 B or 22p per share ignoring shares to come into play.
Perhaps too low after 12 years

If a major came in with say a 65% and 35% to BPC and they fund say 3 drills and contribute to say back costs of say same % £65M thats a cost to them of what £120M, lets add on opportunity cost of double that to BPC so £240M or 22p a share to buy BPC Today.
I wonder if that would go through. not a bad deal for both. Yes a lot less than if we strike but good matk up today

Interesking ,
My view is if we drill and hit oil then I would then sell out for a significant price. If they do they will make shareholders a fortune. Field development will take years proof of the oil in reserves is what wr need.
I will be out well before field development. Leave the rest for a major although I suspect any partner will buy us out much esrlier
IMHO

No field development, find the oil and we will be out for the majors. I will be out next year

That trade must have been from yesterday

A trade looks like a buy for 7,500,000 @ 2.015 times at 13.15

I am puzzled by the slight fall, perhaps some who bought in the OO selling to recover cash spent, be surprised if not blue by the end of the day.

betterupthandown,
Beware of this clown he has posted exactly the same as that idiot specialist on ADVFN so he is either a mate or the specialist.

Yes

Interestking,
That is most odd, I don't know how many you applied for but I assume your excess was substantial so the question is why did you not get them as the take up was 50%.
How can they say the book build will be complete by 8.00am tomorrow, I assume they know the shares are placed at 2p , if that's true why did you not get any further allocation.
Can someone explain to me the book build, sounds like this has been done prior, period.
Not sure if I have mine they are showing in my account with a 1p valuation

I would hope you are still here, most interesting to hear your views, ignore those who are not as obliging.

You either get up early or live abroad looking at your post time.
Anyway, I appreciate your comments
bon ami

Intetestking
Quick question, Are you 100% sure the open offer will be fully taken up. I am the basis being if holders didnt its all over. I just wondered if you had the same view as me and what was your basis for your opinion.
TIA

Morning Interestking,
Well sport wise an awful day for me England beaten and by a much better team on the day, Man utd woes continue, I hope the Saudis rumour is true and they have been bought.
Anyway back to BPC, my first and only near term poal is that the OO was a success, hope it is well over subscribed, if it is we drill and I see us rising to 9p or 10p pre drill, if we hit no idea what price but 70p plus, I would like after the OO a farm in and get cash back from the work done also reduce the risk, if that happens I can see us 16p pre drill.
I was a little puzzled by your costs, agree 25% royalty and $50 easily for oil price also 30% COS, I see you have a cost of recovery at $30 per barrel does that include royalty, if not that seems high to me, does it include amortisation of the drill costs. If not its 50-30 = 20X75% = $15 per barrel, not bad I guess for say 1 Billion barrels.