Bahamas Petroleum Share Discussion Threads

[whoppy] 20/12/2018 15:06

hraj - I don't think so. Not while they are negotiating a farmout. There's too many unknowns to the upside at the moment. However, if the company have failed to do a farmout and haven't informed the market then that would be breaking stockmarket rules and 0.6p would be a given. Until they tell us what's going on the share price will move on buys and sells. MM's drop the price as they don't want to buy stock, but that just panics the some into selling and so they drop the price more, which panics more to sell, and so it goes on. There will be a price where someone buy's and all the others think, Oooh I better buy some and the price goes up, and then some more say, Ooooh it's going up, I better buy some. And so it goes on.

[hraj] 20/12/2018 14:50

downward spiral continues.. at this rate it will be back to 0.6s of old and possibly below.

[whoppy] 20/12/2018 14:37

Seems like the market agrees. They need to give an update even if there is nothing to update, due to the length of time since the end of exclusivity and the 4 months of negotiating with all the other potential partners.

[oioisavaloy] 20/12/2018 13:32

Whoopy agree with what you say but investors look for a light at the end of the tunnel and if not get itchy feet for a better return. To maintain interest I think four months is long enough without hearing nothing ! Still holding BTW.

[whoppy] 20/12/2018 13:08

The trouble is, that what they have to say may make the share price spike and create false expectations. So they are keeping quiet. Sounds ridiculous, but the longer you leave it between updates the more sensitive a share price comes to any RNS. So unless anything has dramatically changed, they keep quiet. It does mean though that when they do say something it will be worth it, hopefully because it will be real news.

[bigsi2] 20/12/2018 13:02

The fact that they have said nothing most likely indicates that they have nothing to say...which says it all

[whoppy] 20/12/2018 12:29

I think the management need to speak. It's end of the year and they need to convey a message of confidence for 2019 and give an update on the state of negotiations and how they are continuing into 2019 with the expectation a farmout will be concluded by the end of Q1. At least say what the state is with MacQuarie and their appointment and if they are continuing brokering a partner into 2019. It doesn't take much to write a few lines to let shareholders know what's going on. They can wish us all a Merry Christmas and prosperous 2019 while there at it. Ahem...Lol

[oioisavaloy] 20/12/2018 09:52

Not loved at all ATM ! That's what happens when investors have no news for such long periods. The market conditions don't help either !

[martyn9] 19/12/2018 15:03

Not loved this company ATM, release some Xmas cheer please!!

[martyn9] 19/12/2018 12:04

Second that Linton!!

[linton78] 19/12/2018 08:42

What about starting a crowd funding page to get this bloody well drilled? :-)

[gismo] 19/12/2018 08:26

Good idea whoppy. I'm fairly confident we will hear early in the new year

[whoppy] 18/12/2018 23:59

Well done Gismo. Maybe we could start up a BPC one asking for them to give us an update. ;o)

[gismo] 18/12/2018 22:54

Done that twice in our household whoppy, thanks

[whoppy] 18/12/2018 14:12

Please sign this so we get out of the EU and become independent forever.

[whoppy] 18/12/2018 12:58

Whatever the news, it will come out of the blue, despite the anticipation.

[linton78] 18/12/2018 10:43

Morning all,

Yes oil at $58 certainly does not help but this project should break even at $40 so its still "in the money".

When I spoke with BPC about 3 months ago , it was pretty clear they are aiming to get funding in place at least before license renewal. In fact, i made a comment about having something in place by year end and this was pretty quickly dismissed and BP said "not necessarily".

I think they are working on the asset financing plan and will announce late Q1 next year to limit the backlash from environmentalists etc in the Bahamas.

This is certainly not for the faint hearted now....

[whoppy] 18/12/2018 08:57

Morning all. Cuba opening up blocks for bids must mean they think they can sell the acreage. One has to then ask why not the Bahamas?. I think there is a lot of legal and technical to go through made more complicated by maybe the old exclusive major still being around and the discussion about a consortium etc. Getting financing sorted for a go it alone drill will also take time in these markets, so who knows what the situation is, but looking like we won't know until next year unless they announce something between Christmas and New Year if some exec at an oil company feels optimistic and thinks what the hell, lets go for it!

[linton78] 18/12/2018 08:25

I think they are now going down the asset financing route. We can only assume farm in offers were poor or not forthcoming.

[gismo] 18/12/2018 08:11

Morning WhoppyRE: Call with Ben ProfittSimply put, it's an iterative process that moves along with progress in finalising a drill. In fact, Ben explained that the BG have NO legal right to deny them the ability to drill as they own the licence and the form filling is just a prerequisite. When I asked about the upcoming renewal of licences in May, Ben confirmed this was obviously an important issue and that they are actively in discussions with the BG. BPC are relaxed about this and Ben stated there was an "enormous amount of congruence" between both parties about the future of the licences. He went on to state that they have a good relationship with the BG, it's a relatively small island community and resourcing and experience is challenging in the sector but that they very much work together.Finally, on the question of the technicals of BPC's prospects, Ben was emphatic. The project has NEVER suffered any technical setbacks and that's also the case with the counterparty they were in exclusive talks with.That was it - so it's up to you guys to decide what you make of it. It certainly answered my questions and whilst I didn't learn how close they were to securing their project (a partnership deal), and that was never going to happen anyway, it did dispel quite a few myths and misleading comments I've read on here. Is the company actively working away with Macquarie to secure a partnership, absolutely. So time and patience will tell here, however for me, it's certainly not all doom and gloom and the end of the road for sure.Watch this space!

[whoppy] 17/12/2018 21:26

Someone spoke to Ben Proffitt and gave an account on LSE. They seemed happy.

[bigsi2] 17/12/2018 20:14

Brent $58 not helping BPCs causeMaybe some interest at the start of the next financial year with fresh budgets ... that's if the GOB kindly extend the license despite what will almost certainly be a breech of terms

[linton78] 17/12/2018 17:12

Merry Xmas to all the usual suspects on this board.

It looks Santa has forgotten our farm in but hopefully we will all have a prosperous new year...

[dynamohum] 17/12/2018 08:12

Christmas Whopper . . . . .