Bahamas Petroleum Share Discussion Threads

[linton78] 18/3/2019 13:54

Interesting listen.. he thinks it could be back on but admits he doesn’t know who is in talks.

[whoppy] 18/3/2019 13:41

He thinks the major from last year is back. Starts at 27:30.

[gismo] 18/3/2019 13:27

Did he say anything interesting?

[jone06] 18/3/2019 13:24

Got a mention by malcy on today's vox markets pod cast

[whoppy] 18/3/2019 12:44

Yes, and not just to get the best price for the order but also to stop the share price spiking. Pressure eventually builds and we get movement on smaller buying, like today's volume.

[stewart4980] 18/3/2019 12:11

I see there was also a 6,300,000 buy late Friday as well. The problem with these large trades is it is difficult to tell if a buy or a sell as they will work them all day.

[whoppy] 18/3/2019 12:10

Don't know. Would of hit the price hard if it was a sell. Maybe it was a worked buy for the day.

[martyn9] 18/3/2019 12:07

Looks to be stewart.

[stewart4980] 18/3/2019 12:03

I assume that 4,500,000 @ 1.7361p from Friday timed at 4.17 was a buy ?

[gismo] 18/3/2019 11:39

Morning whoopy, you're more than welcome, well it all made sense to me. If institutions start piling in then the gap up won't take too long. I'm with you, I think we could get an announcement at anytime

[whoppy] 18/3/2019 11:24

Thanks for that post by Pageofcups. Very insightful I think, and seems to fit with events and timelines. I see there is a big gap to fill on the chart to 2.5p. New institutions on board and a deal coming. Not long now.

[cinoib] 18/3/2019 10:10

And there you have it.

[cinoib] 18/3/2019 10:02

Last couple of trades were at full ask so about to tick up by the looks. Oil down this a.m.

[linton78] 18/3/2019 09:43

Oil price comment ...

Crude oil gained +2% to the $67.5 level last week, alongside strength in equities and as DoE stats confirmed the draw that had been indicated by API inventory stats, and by more than expected at -3.9m barrels. The weaker USD also helped, as well as more bullish statements from Saudi (stating it will significantly reduce the amount of oil it will supply its clients in April) and further issues with Venezuela (continues to face additional domestic issues as power blackouts and worsening conditions are further denting oil output, with some research saying March production could be down to 500k b/d).

[gismo] 18/3/2019 08:21

Morning Mr Plank! Sell up and move on.

[dynamohum] 18/3/2019 08:18

Utter tosh . . .

[gismo] 18/3/2019 07:40

Morning. Excellent post from PageofCups on LSE last night. RE: Some facts the way I see itLast year BPC did have enough cash to conclude a farmout providing the BG announced an extension for the licences before the end of 2018 so they could complete the commercial terms of the farmout. The major who was in exclusivity, was waiting for the extension last year but as it was not forthcoming could not justify extending the exclusivity without the licence extension in place and was not prepared to carry on paying $250k per month, therefore at the end of August the major did not extend the exclusivity but instead told BPC to came back to them when they had got the extension. Simon Potter could not say why the major had ended the exclusivity other than it was nothing to do with the geology or the rocks, which the major likes very much. The fact the licence was extended from the beginning of 2019 to end of 2020 gives an idea at the time of when this was being decided, ie: last year, to be concluded and announced before year end, and was based on a 2 year window at the request of BPC and the major. Unfortunately the BG took longer to approve the extension and this became clear at the end of February when the approval came and they already are 2 months into the 2 year time window requested by BPC and the major. Obviously the BG knows who the major is due to BPC's request to extend the licence and the BG knowing who the major is that was requesting, in order to get a farmout agreed. Unfortunately the AG let slip that he knows who the major is and that BPC have an agreement not realising that BPC may not have yet agreed commercial terms or may have been in the process of needing to raise funds with the placing, in order to have enough funds to get the deal over the line. The placing was promulgated after the licence extension which was a pre-requisite for the placing, when the share price was 1.7p. The share price rose steeply after the AG made his comments and let the cat out of the bag. All he knew was that they had extended the licence because BPC had a major who needed the 2 year window for the drill to happen, and that granting the extension would seal the deal, hence the AG was confident that a well would be drilled. The reference in the latest BPC presentation for a farmout in 6-12 months is in fact referring to the immediate upside potential 6-12 months after a farmout is announced and then a further upside potential of 12-18 months for the drilling and any oil discovery. This is effectively the duration of the extension. This is what is attractive to the new institutional investors and is BPC's unique selling point that they have a drill ready project with a multi billion barrel well and a major ready to go. HENCE THEY WERE ABLE TO RAISE THE CASH.

[atino] 17/3/2019 12:00

Oh great 🙄...another “short” missed 🤦‍a94;️ !

[linton78] 16/3/2019 17:51

Cyan - yes, I know. I recognised that account.

You couldn’t make it up ... :-)

[linton78] 16/3/2019 16:51

Hello Chris - has your mum forgiven you?! Lol.

[whoppy] 16/3/2019 15:51

The Attorney General is on the record with his comments of being confident of a farmout and Simon Potter is confident of a farmout. The only one that is not confident is the market. We shall see.

[undervalued companies] 16/3/2019 15:46

I wonder if Chris oil @chrisoil on Twitter ? did the placing

[linton78] 16/3/2019 13:25

Seagreen - I agree regarding BPC, good post.

I think they have a Heads Of Agreement in place and the raise is linked to drill prep costs and/or other associated fee’s. We should find out soon enough now.

[manicat] 16/3/2019 06:42

hxxps://www.sharesmagazine.co.uk/news/shares/bahamas-petroleum-hunts-for-oil-exploration-partner-again