Bahamas Petroleum Share Discussion Threads

[linton78] 01/12/2018 14:07

Litho, can’t argue with that. I had pencilled in selling in my mind about 6 months ago in January if there’s no deal.

The government will want to see progress. Even with a cash facility in place and equity partners etc the government COULD say they haven’t met license obligations and we are finished.

I hope I’m wrong but I can’t see any news this year now.

[lithological heterogeneities] 01/12/2018 13:40

If Macquarie leaves so do I .I do not think Potter can do a huge deal with a major on his own.We need Macquarie.

[linton78] 01/12/2018 11:32

Thanks Gismo, I believe that’s the case as it’s a rolling contract.

[gismo] 01/12/2018 11:12

Apparently they can be extended and stay as long as bpc need them

[bartender18] 01/12/2018 09:34

Wonder what we will hear about Macquarie?thought I read their contract ends December, if we lose them won't be good.

[armatrading] 30/11/2018 16:38

Let's hope somebody know something, and they aren't just (very) rich folk having a (relatively) small punt.

[gismo] 30/11/2018 14:31

And whoppy, don't forget the large buy the other week. Something is brewing and that buyer knew it.

[whoppy] 30/11/2018 14:15

Some sort of confirmation coming on the charts, hopefully a reflection of whats in the pipeline. There were 4 x 400k buys this morning from the same buyer. That's 1.6m shares - £25k. There was a 1.2m buy in one lump yesterday - £20k. share price should go north, imo.

[gismo] 30/11/2018 13:26

Just in time for Christmas!

[martyn9] 30/11/2018 12:25

Oil hopefully and soon :)

[gismo] 30/11/2018 12:22

Afternoon folks, looking stronger here. Something in the pipeline?

[armatrading] 29/11/2018 21:11

Only time will tell... It will be interesting to see if any other biggish buys follow. These might be position building from one person/group, or just people following this initial buy, believing they do know something.

[whoppy] 29/11/2018 19:25

Yeah it's a lot, 20k on a company that's at a precarious point of hopefully doing a deal. Pure gamble or shrewd money?

[armatrading] 29/11/2018 17:47

That 1.2M buy would have cost about £19K,... no small potatoes.

[stewart4980] 29/11/2018 16:26

whoppy,

Also a 1.2M buy just after 3pm @1.65p

[whoppy] 29/11/2018 15:03

Some chunky buys today. 400k, 500k, 600k. Oil companies can't just pump their fields forever and ever. They do have to go and explore for and find new oil. With the hiatus of the last few years the pressure will be on now they have shedloads of cash and a cheap drilling environment and no new material discoveries. BPC moves the dial for them. Top 10 by prospect drill in the world. 8Bn barrels, up to 28Bn barrels. Just 1Bn would be mega.

[linton78] 29/11/2018 14:03

The romance of drilling for oil has peaked....

[linton78] 29/11/2018 13:50

There will be a pick up in oil exploration activity next year, compared to 2018, according to a new report from Fitch Solutions Macro Research.

“On an annual average basis, revenues will be boosted by higher oil prices, while still compressed services costs will flatter margins and bolster cash flows. This will give companies greater flexibility to increase their CAPEX and assume more risk,” the report stated.

“Exploration largely dried up following the oil price collapse in 2014, as companies focused on conserving their cash, gearing their spending towards lower risk, lower cost and shorter cycle projects. However, there are signs that exploration activity is starting to recover,” the report added.

Exploration in frontier and deepwater plays “is showing signs of recovery,” according to the report, which also reveals that exploration appetite is returning in more prospective plays.

Fitch Solutions Macro Research’s report highlights, however, that companies face continued constrains on their exploration spending.

“Financial discipline continues to be a key concern for oil companies globally. Discipline will slacken as prices rise, but fears of peak demand and the longer-term health of the industry will likely keep margins more sharply in focus. This is not a bad thing and improved capital efficiency, and lower services cost, means companies can effectively do more with less,” the report said.

“Arguably a bigger issue is not the level of spending, but how capital is allocated. As the market has recovered, much of the additional cash has been funneled towards shareholders (through dividends and buybacks) rather than towards productive investments. This competition for capital is likely to persist in 2019, continuing to drag on exploration next year,” the report added.

Earlier this month, Rystad Energy announced that there was less appetite for exploration drilling.

“Of the 100,000 wells drilled globally in 2013, four percent were exploration or appraisal wells. In 2018, this share is expected to drop to only two percent of the 70,000 wells drilled,” Rystad said in a company statement published on its website Nov. 9.

“This trend can be observed across both the offshore and the onshore markets and across the globe,” Rystad added.

The company said a willingness to invest more in exploration in 2019 and beyond “is likely.”

[martyn9] 29/11/2018 09:33

It appears to be working whoppy, some kind of update required soon.

[whoppy] 27/11/2018 15:40

Huge spread all day today and yesterday. Trying to stop any buying?

[whoppy] 27/11/2018 15:30

Some weird share price stuff going on today. Huge spread, sells showing as buys, and some getting mugged at 1.5p, and now the chart shows as back up. What's it all abooout !? Lol

[oioisavaloy] 26/11/2018 15:01

Looking good today....BTW what the hell has happened to MATD plummeted today - the sell off might attract a few investors here ?

[gismo] 26/11/2018 14:43

Afternoon Linton something
is stirring

[linton78] 26/11/2018 14:25

SP of 1.72 i am seeing on two other sites?

11% up