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As previously mentioned, I do have a few smaller holdings in my PF, which although not impacting the main PF in any significant way, are essentially just 'dead weight' for the forseeable future. I'm currently in the process of liquidating them to provide an opportunity to secure a larger holding from the Open offer, the rationale being that the potential upside through various price catalysts looks much better defined re: timeframes and the potential upsides.
That approach may not suit others and of course usual investing caveats apply, but it seems more prudent and logical from my perspecrive, applied to my PF, rather than have such investments essentially non productive and perhaps completely lost causes.
Each to their own but certainly looking forward to securing stock through the Open Offer and theeeafter moving into actual drilling.
Atb & have a good evening all
Yes Bonum - I'm doing the same. There seems to be pretty good support for the OO to date. I just hope they give us 30 days at least ... (I would prefer 45 days) to get the cash in place.
Good evening chaps. The thread has prompted me to think about other stocks I hold in my high risk / potentially high reward (ie. it could all go tits up part of my portfolio and rather than high reward you substitute could lose shed loads). Currently I would say those stocks are UKOG, ANGS, GKP, SLE, GKP (extra horseradish for anyone spotting the connection and relation to BPB ..... OK will stop there and invite humiliation. ATB
Some might regard it as a recce for undoubted imminent success, but did enjoy a night out at Langhams this evening after several beers at the Wigmore. Anyone suggest anywhere better to celebrate success of this hitherto tiddler?
I've had some GCM sitting there for years, as well as more recent EOG and the monstrous little COPL. I'll be liquidating the former, as well as a partial offloading of the latter, to sit along the cash from the already sold ECO - that will be added to my existent £7K to facillitate the purchase of my Open Offer allowance and any excess available.
Looking for that immediate & significant re-rate on the succesful OO and refering to Etyan's extreme bullishness in Shore placing the rest - any Farm in deal before or after, is a massive bonus.
Just sold my 186 shares in GNK - that's another £1,587 in the pot for BPCs open offer shares.
Atb
I've bought some shares,
time after time,
I've done my research,
I've read every line.
(altogether) and bad mistakes,
I've made a few,
I've backed dusters with sand kicked in my face,
but I've come through.
(you know the rest...)
BPC are the Champions my friend's
We'll keep on holding till the end.
In all seriousness, like most on this BB I have a dark corner of my portfolio called 'high risk' all of my explorer O+G and frontier mining plays sit in this pot.
As a general rule I try to keep it to 10% or less of my total pot, the open offer will take me above this even with the reduced allocation I am looking to take up.
Some of the less imminent high risk shares will need to be re-assessed.
BPC are members of an international spill response team incorporating countries in the region including the US, so if there was any oil spill a plan is put into action by the members. It includes Cuba, US, S. America and Caribbean etc, and is a requirement of the environmental permitting and management plan. It's an insurance against any oil spills, that all countries/oil companies will cooperate and share costs, etc of any clean up.
Thanks for that PoC appreciated.
GL
Also appreciated PoC.
I think there was something in the draft EIA agreement that covered drill partner approval from the government. I would expect that BPC have worked with the government throughout the process of appointing SeaDrill and Haliburton and that as partners they have outline approval in advance.
Going to be more aggresive in cashing in the 'dud' stocks, which aren't going anywhere anytime soon - will certainly try to secure as many additional shares, beyond the Open Offer allowance and with the obvious buoyancy here.
Each to their own plan of action.
Atb
I'll be taking up all my Open Offer allowance and of course, as much excess as I can secure, through the ongoing selling of the 'dud' stocks in the Portfolio ie thise not going anywhere soon (perhaps never) and as opposed to BPCs clear, near term timelines and identification of key re-rating catalysts moving towards drilling.
Today will be a lot of non holders who have been on the sidelines, quickly trying to secure Holdings for such.
Atb & have a stress free day as an existent holder
Tomorrow will sell the residual 'dud' stocks that I have in my PF - some of them may eventually recover, albeit prefer the more defined timelines associated with BPC and leadinh into drilling activity here.
The last of my gcm and a few others and then to plow that into the Open Offer allowance and any excess I can pick up with remaining funds - that's my specific strategy but others may have their own.
Atb & have a good evening all
That's it, just completed the selling off fir the residual 'dud' holdings - a bit of gcm, pxig and some copl. Applied for my open offer allowance and some excess.
Now to wait.
Atb & have a stress free day all