Member Info for stewart3250

Quick question,

With this drill what is the criteria for deciding if there is 0.77 B or 1.44B oil in place.
I ask that because I saw a post not on here that said they may stop as soon as they hit oil that puzzles me, also will they flow test

TIA

Further to my earlier post I meant to say £15M is the total for BPC , the 375M shares is for 7.5M @ 2p a share which has been completed, after that they can raise another £7.5m under the same terms. hence the drag on price as these shares are sold into the market, I still hope they retain some.
DYOR. IMHO

The RNS is Lombard they were the ones who gave us 20M for 375M shares at 2p, I would have bought quite a few at that price with a guaranteed sell price of 2.3p, terrible decision by the board and stuffed retail investors.

Note they sold 45M right away and it will be them selling 330M more although they may decide at some point to hold some for the outcome of the drill.
Directors get options etc retail investors simply diluted especially after SP saying we were fully funded, a disgrace.

IMHO. DYOR.

Is someone able to post the wording of the above and where it is located or as the AG mentioned is it not a public document, BPC are hardly going to spend 100M without a guarantee they can extract the oil with production wells, also I assume these are transferable in the event of a major taking us out.

ZagEgypt,

Have you got a link to the agreement to produce for production for 30 years, would like to see it, I think Pageofcups posted something about it, no point exploration well finding oil and then no production wells able to drill, especially with what that current pm Minnis said.

So the MM'S went away just before 8 today I assume its now DMA is that correct ?

Why are there no market makers showing, all went at about 7.55

Thanks Page of cups.

I assumed that was the case but was shocked to see the comments of P M Minnis, therefore its just come on icemax

https://m.facebook.com/story.php?story_fbid=10158884658017258&id=727127257

https://thenassauguardian-com.cdn.ampproject.org/v/s/thenassauguardian.com/pm-says-he-is-totally-against-oil-drilling/?amp_js_v=a6&_gsa=1&&usqp=mq331AQHKAFQArABIA%3D%3D#aoh=16077205855164&referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Fthenassauguardian.com%2Fpm-says-he-is-totally-against-oil-drilling%2F

I attach the full article and note that The AG will be against the protestors for a Judicial Review.
I was not aware that the PM was against the drilling although I seem to remember them trying to get out of it at the time but legally they could not.
I am going to assume we drill as the case is strong however what is out situation with licences to drill production wells and can we transfer these to a major to drill.
If we hit say a Billion barrels its no good to us or a partner or a major if we cannot extract it and Minnis has said he is against drilling, or I assume and its only an assumption they cannot get out of drilling a production well, that would be many wells

Is Icemax going to Freeport, it may go direct to the drill site, anything could be flown out.

Question, lets assume BPC find the oil, what is the position on production Wells as the oil needs to be extracted with production wells over many years. Bearing in mind the current do gooders have we covered future licences, I assume we have.

I hope we simply sell out to a major and move on.

Morning,
So we are now at the CLN level or about there 2.50p on the bid, lets see what happens now, the MM will drop this to get shares and then bounce it back up and keep the spread wide, so I bet you cannot buy in any quantity.

The potential threat of an injunction has clearly had the desired effect albeit I think it is just bull****, BPC have done everything correct in particular the Environmental protection aspect, Icemax continues to the drill site, these people have has 10 years to object what judge is going to grant an injunction at this stage especially after BPC have spent a $100M over this period just getting to drill, they are trying to stop it to cause maximum damage as the drillship arrives, well they will need to put up a huge bond to succeed, I hope BPC and the government go for this Smithj and his cohorts for damages caused.

Finally the government have said nothing and indeed why do they have to, I thought Simon's rebuff was excellent, now lets get drilling and give the people of Bahamas a huge royalty.

I think the fall based on that article should be rebuffed by BPC today, it has had a significant effect on the market cap and by definition the share price.
I have not sold one share but many have and beggars belief why an article with no substance has this effect, the market makers are just driving it down, collecting shares and will sell them back at a huge profit.

Another thought, is the CLN having an effect in respect of dilution, I am not sure, either way that drop looked definitely done by the market makers and are they thinking dilution of some sort, I didn't see that drop today, it should be going up, retail investors always the last to know.

There must be a very large sell to show, Rainbow Warrior I doubt that has an effect, I wonder if the tight hole status has affected the mood.

Londonwhale,

This stock goes into auction at 10 to the hour every day, so your comment does not mean anything to be fair.

I assume the Icemax is still moored ?

I listened to the Malcy interview and was impressed, I was pleased with the update today although not a huge increase with the wells but income non the less and Saffron 2 was updated as promised the update.

To me its all about P1 nothing else matters if its a success then I'm retired and I will sell if there is a discovery, I am sure it will de risk the whole field and therefore will not sell immediately if they hit oil.

Having listed to the interview with Malcy they said they had 23M in the bank I think, not sure if it was dollars I think it was. Therefore why are we not well over 3p and much more, I think its down to this CLN , I know they said 23M but do they need the CLN if there are delays and additional costs. I cannot think of any other reason only that people after 10 years or so are sceptical, its being drilled before Christmas that's what Simon Potter said, lets see where the price goes because its too low at the moment

Just listened to the interview and it all sounded excellent especially the comment on success at P1, I will look to add more on the back of that interview.
Makes you wonder why some are here unless to short or try to short the share, rossannan, have you ever got anything positive to say about BPC , must be trying to get it down, in my view this will rise into the drill and I will sell some and let the rest ride for the outcome, if it comes in its a game changer even for those with say 500K shares, my average probably about 1.2p.
Regarding funding I was unsure about the comments in that I missed a couple of sentences, I think he said enough to drill P1 with current cash, did he include CLN just if required in other words as a backup for overruns etc.

So having read and re read the RNS today am I correct that all funding is now in place providing we take the CLN 10.25M @ 2.5p, their are conditions to the CLN, have these all been satisfied, if so then the price should now rise to 2.5p minimum when the CLN is taken up and then continue to rise up to the drill.