Member Info for stewart3250

Whilst Coronavirus is clearly a major issue, have you noticed how much the BBC and SKY are so hyped about this, not just on tv but on phones etc. Its all so doom and gloom, at present we have 40 cases of the virus population in UK 65 Million, of course people need to be advised but its pushed down our throats all day every day.
People panic, buy food that's not necessary and virtually stop everything, yes its serious particularly in China, South Korea and Italy but the media need to reassure people not press the panic button, no wonder the markets collapsed and BPC barely moved after the EA.
When last week the markets collapsed and the DOW had the biggest one day fall it was first on the news, today when the DOW had its biggest one day rise it was barely even mentioned.
The media need to get more responsible with reporting, yes Coronavirus is important and the message needs to get out there but put it in perspective.

Morning all,

Superb news today on the EA and not surprised were up even with the virus causing chaos in the markets, one thing though is huge forward selling in my view with the financing, yesterdays was it 48M @ 3p presumably the lower of the last 5 days, what a profit and as I see it this will happen on every drawdown, so great to see it up but the dilution suffered is a pain although better than the CLN.
A farm out is by far the best option in my view.

IK,
This is quite a big shake presumably to hit stops at 5p or just below or there is a huge sell, I haven't sold any shares and won't until drilling starts, although might consider recovering 20% pre drill not made my mind up yet.
I expect this to rise into the close.

That person over there has completely ruined the boards I am going to stop my Level 2 as don't want to listen to that constant crap, might be a bot though, if not they are complete fruit bats just utter madness.

Morning Interestking,
Superb posts very insightful and shows the huge potential, I have read all your posts and found all of them informative, I did note you thought the OO and MF would be well oversubscibed and I had hoped it would be, I am not being disrespectful here just saying that none of us get it right all of the time.
I believe you are the most informed poster here and do look forward to your analysis and in depth views.
Lastly on options you mention hedging at drill time, everyone must make a decision take part off and let it run will be my option probably !!
What is your view in respect of hedging as far as I can see that's it. You could at that point short some but I cannot see how else, could you explain.
Many thanks and hope I can still come for a drink despite being in Cumbria

Flyboy,

Cash burn !!! Good grief you need to bring yourself up to date, look at the funding we have, the key here is the CLN and with it were off, if not we need different finance but I have no reason to suspect we won'; get the CLN , a cheaper alternative would do or a farm in.

All this talk about drilling dates, listen to what the company says, they have to drill April, two reasons they have to drill this year or they lose the licences and that would be it and if they delay we are into hurricane season, get a grip.

I read your post,

"Maybe not Bonum, I'm hearing a huge placing is coming!"

You post up details like that and you should read the FCA warning on here, they act on false information or insider knowledge, it can influence people to buy or sell its called market abuse.
Just thought you should know.

https://thenassauguardian.com/2020/02/11/leno-breaks-ground-on-25-mil-headquarters/

Just looked at those 1M trades, they do look like buys, so why has the price fallen, is it something to do with the MF either that or there is a huge sell in the system, lets see, I think this will move back up quite quick today.
IMHO.

I have read the Proactive article which I thought was excellent however I am some what puzzled by their valuation, they state
If Perseverance proves to be a discovery and the UBEST estimate of 1,030mm boe is reclassified as Contingent Resources, fair value, which would be a combination of the volumes from Perseverance and the remaining portfolio, could be up to $1,014mm (36p/share), a significant step change in value.
How is 1030mm boe worth only $1014mm or 36p per share when also taking into account the remaining portfolio, I must be missing something it is worth far more ?
IMHO

Morning all,
Good news on test drill could see us 8p to 10p, really !!
My view is that pre dill we will be 8 to 10p alone, with a farm out could be 18p to 20p, if we are alone and fail to hit it will probably be 0.5p or all over if we hit then no idea but as a starter 60p plus.

IMHO.

Don't let them get your shares, its doom and gloom with that dreadful virus in China which is spooking the market, but nothing has changed here.
Those MM's are going for your stock and have dropped it quick, do not be fooled and watch any stops.

IMHO.

Afternoon,

Interestking, I agree with views, had a small top up 50000 @ 3.40p so a bit higher than now but I feel comfortable, I now have a nice round number, I expected some retrace however I formed the view that the mm's need stock and much more news to come.
In addition it sounds to me listening to todays Podcast that a major partner could be close which is my preferred choice, that way we would get cash and more drills.

IMHO.

Level 2 is now 3 v 1 Bid 2.10 Offer 2.15 looks like overhang gone, it could move quick,

Well so much for this share price, over a penny down last month or so, this should be rising as outcome of size at Duyung should soon be out, then sold I hope.
Very strange.

Morning.
Be pleased to hear your views on all 3 projects coopgare, plus any potential valuations, also what are your thought on Borba.

TIA

Just read the update, I agree that the mission has always been to drill a well successfully however I noted the comment on a farm in and I wonder why it has been included, it does come across that a farm in is not a priority or they at the moment have not got one.
In interviews previous and news releases a farm in has always been mentioned, has anyone asked BPC about this since the update ?

Yes I noted the debt maturity so thats fine but it does not look good for Seadrill, would rather be with a more stable company. I wonder if that is why the rig daily rate was so good.
Bring on Exxon or another major. I am sure Macquarie will be in the know.

Just saw that article on the BPC facebook page, its dated 7 December
Perhaps why contract not signed yet. Have we an alternative bloody hell the drill heads etc are ordered.