Thought it worthwhile creating a thread for BPC, presenting at Oilbarrel today (28/10/09).
The company hasnt RNSd the presentation but here it is.
Unlike many other Oilies, this has surely got to be one of the better locations to be operating in, in terms of weather and so on. ;-)
Came across BPC a couple of years ago when it was looking for a possible float. In the end it reversed into the old FGML business (hence its listing in the gold mining subsector).
The group has been building its acreage position for a few years now (since 2005) and has 5 licences (more being negotiated I seem to recall) held 100%.
There is a CPR from last year for more information.
A JV with Statoil Hydro has been announced from May this year.
One attraction for me (when I first heard of it) was the presence of Alan Burns, Chairman and CEO, the founder of Hardman Resources - ultimately bought out by Tullow).
I do recall that one of the main reasons why I held off buying into the story was the presence of RAB as a 55% shareholder given their problems last year. I see that has reduced now but they are now down to "only" 19.8%.
Now off to read the presentation.....
