Bahamas Petroleum Share Discussion Threads

[whoppy] 15/7/2019 20:32

bmccb5 - There was a deal pending certain legal issues were clarified. Unfortunately they were not clarified in time so the deal was off. This was announced in August last year when the major ended the exclusivity. A lot of people interpreted this as the major had walked away. Since then, Simon Potter has confirmed that the major has not walked away, it was just the exclusivity that ended. Unfortunately deals do fall through even if both sides want it.

[jone06] 15/7/2019 20:15

What evidence is there that there is an auction going on?

[linton78] 15/7/2019 19:34

Stewart - that’s a shrewd post. The Chinese state oil companies are actively drilling in the Caribbean and IMO will be invited into the current auction. Deep pockets and the will to get one over the US in today’s political environment (trade war v trump).

Pure guess but I reckon the cut off for bids is end of July / early August - standard English law docs to be signed to speed up the farm in process.

Many of the faint hearted BPC shareholders may sell out now or approaching news, but the fact a competitive auction is in place tells us that interest is significant.

All the main players will be reviewing terms and putting in strategic bids... could we end up with 30% plus and back costs? Maybe in this process.

[stewart4990] 15/7/2019 19:09

https://twitter.com/bahamasinvestor/status/1150823643359956992?s=19

[whoppy] 15/7/2019 16:27

Unfortunately they changed their mind. It happens. Bit unforeseen really considering they were paying to do an exclusive deal. It might have been the offer wasn't good enough and they were going to come back with a revised offer but didn't. Not a great way waste a million dollars for nothing. We now have competitive bidding brokered by Macquarie so hopefully it will be different and there will be a result.

[bmcb5] 15/7/2019 14:40

hmm. let's see what your senses were telling you this time last year....
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whoppy - 10 Jul 2018 - 23:40:32 - 22545 of 30135
Deal is done. And it is a big Major.





edit. 6 tickups on that post. 6 gullible fools believing your utter lies

[whoppy] 12/7/2019 12:13

My senses say bids are in and they have an offer or two, maybe three, and they are now going through the detail. The spike this week was too suspicious and some pick up in activity was a result of offers on the table. Can't be as a result of a big fat zero on any offer, otherwise share price would of tanked by now. End of June deadline for RFP submissions would have been reasonable as it would have given majors 3 month's to submit and it's before the start of the holiday season.

[armatrading] 12/7/2019 11:14

BPC are already at a later stage than that of the Caribbean auction, in that BPC already have licences to drill in the Bahamas.

[brettmo] 12/7/2019 09:59

The AIM rules do not permit publishing wishy-washy data. As has been said before, the BoD has been just as frustrated as shareholders in not being permitted to keep the market informed.

[todpodger] 11/7/2019 16:34

It is approx 202 thousand minutes Linton give or take a few were do you get 5mins from that. time they updated FOR OBVIOUS REASONS like people have cash invested here and have a right to know how their investments stand to make rational decisions.

[todpodger] 11/7/2019 16:21

Not quite 5mins is it Linton.

[linton78] 11/7/2019 14:29

BPC can't blurt out news every 5 minutes... for well known reasons!!

[todpodger] 11/7/2019 14:18

Why is it other oil exploration companies can give out information of a similar vein to what bpc are supposed to be trying to achieve yet we always seem to be in a news blackout here on all fronts.surely bpc must realise that an update on progress to shareholders is long overdue.

[whoppy] 11/7/2019 14:06

About a dozen major oil producers, including U.S., Chinese and European companies, have expressed interest in bidding, said Reyes. Executives from Repsol SA, Total, CNOOC Ltd, Noble Energy Inc and Exxon Mobil Corp were signed up to attend Wednesday’s launch.

Is it a case of those majors not mentioned like Shell, Chevron, Equinor, BHP, BP, an indication they might be busy in the Bahamas.

[linton78] 11/7/2019 13:58

“This is mostly a frontier area with good potential, and in some cases with good business environment,” said Carlos Bellorin, an analyst at researcher IHSMarkit.


... With much less potential than BPC... that's why the advisors are running an auction to get the best percentage terms available to drill fold B.

The fact this went to exclusivity last year points towards alot more interest in the acreage than we realise.

[mr copl] 11/7/2019 12:59

Put Copl on your WATCHLIST.

[dynamohum] 09/7/2019 17:38

Just upping the bid to accommodate the sells . . . . .these little spikes are like a death rattle in slow motion . . . .

How many you got now whopper 😰

[whoppy] 09/7/2019 16:22

1m buy just mopped up.

[dynamohum] 09/7/2019 16:14

The best job potter ever had . . .

Now as for the worst job . . . . .

[todpodger] 09/7/2019 15:49

You would think that surely there was some progress worth reporting to current shareholders and potential investors by now what the FUFF are they playing at we do pay their wages after all.

[todpodger] 09/7/2019 15:36

Time will tell next rns is sxxt or bust imo.