Bahamas Petroleum Share Discussion Threads

[whoppy] 05/3/2019 08:56

Great buying opportunity!

[bigsi2] 05/3/2019 08:54

And if news doesn't come?

[joemillion] 05/3/2019 08:54

Morning Gismo. Now you talking - they don't make songs like that anymore. Remember being dragged along to TOTP in 1982 by a girlfriend and seeing him perform!

[gismo] 05/3/2019 08:41

This old house...... morning Joe

[joemillion] 05/3/2019 08:33

There's more shaking here than Shakin' Stevens on tour...

[gismo] 05/3/2019 08:29

It had to happen but the consolidation is good and the next leg up will be strong. News can't be far away now

[martyn9] 05/3/2019 08:24

The sells are getting snapped up,nice try MM's.

[gismo] 05/3/2019 08:09

Morning whoppy, thanks for that, good post

[whoppy] 05/3/2019 08:00

It would have to be before Dec 2020. Well planning and long lead items would take 12 months, and then there is the EA. The major wanted a 2 year window which they've got. So with all the work that needs doing the farmout can only be a matter of days/weeks away. We know they are discussing commercial terms with multiple parties. Commercial terms are usually the last stage, so BPC are at an advanced position. Throw into that we are in a competitive situation with a number of parties and not just dealing with a solo partner like the exclusivity, then there will be a lot of bidding and counter offering to get to that deal that gives shareholders the maximum available. It's a great situation for BPC.

[bigsi2] 05/3/2019 07:37

The AG did not say drilling WOULD commence before 2020 - he said I quote "I'm confident they will drill" two very different statements

[bigsi2] 05/3/2019 07:35

Firstly -BPC share price was vastly higher 20p approx in 2010 so could raise larger sums for costs much easier and would this be in a position to negotiate termsSecond - the POO was much higher so economics of protect much betteralbeit drill costs reduced for BPCThirdly - id take paid for reports and coverage with a pinch of salt as BPC we're still raising funds at this time

[lithological heterogeneities] 04/3/2019 19:10

BPC FARM-OUT FIGS:

FIRST ENERGY CAPITAL - Jul 2010
Based on the expected parameters of the deal we assume farm-down of between 25% to 40%.

GOLDMAN SACHS - Nov 2010
We assume BPC retains a 35% stake post an assumed farm-out, with a full carry on drilling.

FIRST ENERGY CAPITAL - Mar 2011
In line with Company guidance we have also assumed that the remaining equity interest post farm down will range from 25%-40%.

GOLDMAN SACHS - Jun 2013
We continue to model a farm-out for BPC, assuming the company retains a 40% stake in the exploration prospect in return for a carry on its portion of the well cost and back costs.

[brettmo] 04/3/2019 19:09

The AG did not say when the agreement would be closed. It may be days, weeks or months but he said drilling will commence during this licence.What's your problem? He did say it and I doubt he invented it as he must have been heavily involved with all aspects. He has not had to withdraw what he said.

[seagreen] 04/3/2019 17:54

See the AAOG ramp run by an idiot for idiots never came to anything

[seagreen] 04/3/2019 17:53

nice consolidation ...kinda its too dangerous to be out of view and if it went back down would buy a few more

[bigsi2] 04/3/2019 16:55

Well they raised funds at 3p back in May18 even with guaranteed $750k coming into coffers- so no I certainly wouldn't be surprised, just disappointed. they should still have a decent lump available (3m end H2) but isn't share price now back on reduced salary albeit reduced rather than taking options? and then there's Macquarie- BProffit wouldn't commit to howmuch of a retainer they were paying.could still also play the old "strengthen our negotiations" hand too

[linton78] 04/3/2019 16:42

Interesting few posts above. I had a 80/20 deal in my mind but with no back costs paid - BPC would have to announce a deal then raise at 20p odd for example.

In a recent shareholder call Ben Proffitt would not rule out fund raising which has stuck in my mind... I am fully expecting a placement to boost the working capital pot.

[whoppy] 04/3/2019 16:36

Up and just sideways this afternoon. Looks like it won't take much for it to crack 4p.

[gismo] 04/3/2019 16:26

Looking very positive on my chart too whoppy

[whoppy] 04/3/2019 16:23

Bollinger bands very tight at the moment. Looking to break out the upper bollinger.

[gismo] 04/3/2019 16:15

Always a tinge of negativity to your posts, now why is that

[bigsi2] 04/3/2019 16:15

I've never though it likely share price would get the back costs he was looking for especially in the current environment.I always thought 80/20 and a free carry on first drill and first appraisal on discovery most likely. after 10 years of waiting you aren't so fussy I guess.

[stewart4980] 04/3/2019 16:04

With BPC I would doubt charts mean nothing its down to one thing a partner and farm out, I would take anything over a 15:85 split and a free first well, not sure about contribution to prior costs perhaps 50M.

[bigsi2] 04/3/2019 16:02

personally is like to see some consolidation towards 3.2p support and move on from there