Ann: Placement and Rights Issue, page-177

Churrrrrbro...

Drill before the end of 2020? Do you really believe that is likely in the current environment?

You keep saying that BPH doesn't need to raise $20M (or more) for the drill, but only needs to raise its share. Well that's great, but I have to ask the obvious here ... who is going to raise the rest and how? "PEP11" share prices (BPH, MMR, BUY, GBA) were a lot healthier in the lead up to New Seaclem in 2010 than they are now, the world economy was far healthier than it is now (even in the wake of the GFC) and investors weren't so much in the survival mode that they are now rushing to buy gold and silver to hedge against what many economists agree is a global economic catastrophe on the horizon.

Is drilling for gas in PEP11 really going to be considered a safe investment given the worsening economic / pandemic outlook? I think that would be a hard sell even at the best of times. I agree that there is huge potential in PEP11, but I just don't believe it is going to be as easy or so much of a foregone conclusion of success as you and some others on here seem to believe. It is only an opinion, yes, but I believe that PEP11 Drill #2 is going to be a long haul operation. Then again, Breeze may just surprise me and pull a bloody great rabbit out of his hat with $20M in its mouth.

I'm not trying to be a naysayer or a doomsday Dan here, but it's good to look at the big picture - and it ain't that pretty...