Bahamas Petroleum Share Discussion Threads

[jotoha2] 21/8/2019 07:32

Nothing much has changed here , massive dilution is the best there is for the moment, what is a worry for holders is that after so many years no signs of a farm in , that tells you something is not good here , expect them to loose license next year unless a white knight appears .

[lithological heterogeneities] 21/8/2019 07:28

It is quite clear from the next paragraph that the reason for the "opt out" Convertible Loan Note is to show the potential Farm In partners that BPC have alternative funding in place to show them we are prepared to go it alone and if they want to bea part of a potential 28 BILLION barrel oil find them they are going to have to make serious offers....AND SOON:"However, in the view of the Board the Conditional Convertible Loan creates a benchmark against which any farm-in or other financing proposals can be considered, as well as underpinning the financing of the initial exploration well"

[todpodger] 21/8/2019 07:26

Derampers up early I see couldn't you sleep ha ha ha all positive in my view it's gonna get drilled. long live the morons.

[lithological heterogeneities] 21/8/2019 07:23

So BPC have an "OPT OUT" clause for the Convertible Loan Notes so dilution is NOT set in stone.

[bigsi2] 21/8/2019 07:22

- A general authority to issue up to 1,800,000,000 new Ordinary Shares (inclusive of options and warrants), at any time prior to 31 December 2020, without the need for additional Shareholder approval

[lithological heterogeneities] 21/8/2019 07:22

It remains the Company's preference to secure a farm-in, and thus BPC has sought to keep upfront fees and costs relating to the Conditional Convertible Loan as low as possible, whilst preserving the right to opt-out of the Conditional Convertible Loan at minimal cost 

[lithological heterogeneities] 21/8/2019 07:20

Farm-in UpdateBPC continues to proactively pursue a farm-in as its primary financing strategy, and farm-in discussions are continuing with multiple parties, the license extension to the end of 2020 granted by the Government of The Bahamas earlier this year offering clarity to potential partners. However, the process is taking longer than anticipated, and has not yet produced a successful outcome.

[todpodger] 20/8/2019 17:06

See flop man still here trying to save us morons from ourselves do you think we should invite him to the 87p party.

[bigsi2] 20/8/2019 15:52

must be time of the month fella :)apparently BPC now have actual reserves not just prospective resources of gas despite never having spun the drill bitCouldn't make it up.

[martyn9] 20/8/2019 12:31

Lets see if anything tangible announced before the agm or during,imo this is game over if not but not long to wait either way now.Just sit tight as usual.

[whoppy] 20/8/2019 11:24

Off course it's pre-drill. It could be more or it could be less. The key is, you need to have a target in the first place to drill.

[dynamohum] 20/8/2019 11:22

Bit tetchy today BS2. . . . . . . .

[bigsi2] 20/8/2019 09:47

S Potter pretty grateful to you too I'm sure- as he kicks back after his 2 days work a year sat on a lounger in the Bahamas sipping champagne- that you continue to pay for. Mugs !!

[bigsi2] 20/8/2019 09:39

"Pre drill" bring the key phraseGood lord !!

[whoppy] 20/8/2019 09:13

Please look at the bottom of page 7 of the latest BPC presentation. It clearly states the gas resource.

Total unrisked pre-drill resource estimate is ~30bnBOE - biased to gas (107Tcf. and 11.7 bn bbl liquids)



Majors love gas!

[todpodger] 20/8/2019 07:37

What you doing here bigsi if youve no interest prob was invested at one time lost all your money now skint can't invest so jealous of us morons who still have a dream so let us dream as it's not affecting you one little bit and you don't have to be here.or are you trying to save any potential shareholders from themselves maybe you should have a superhero name.mmm what could that be?????ah (flop man) that would be fitting you could save all us morons and learn how to cash a social security giro every month.have a nice day from a happy moron.

[bigsi2] 20/8/2019 07:18

BPC do not have any gas.
there has been no exploration well or appraisal so in fact they have NOTHING other than a soon to expire licence and some 3D seismic.
is it likely Shell would invest millions in the (environmentally, politically sensitive) regions infrastructure based on possible reserves? that would be a commercial first.
Ridiculous!!
more rubbish from the morons on this board.

[todpodger] 20/8/2019 06:46

Let's just cross our fingers we have all been disappointed before did like the word "MAJOR"though hope he was inadvertently throwing us a clue.

[whoppy] 19/8/2019 23:53

Yeah, the Prime Minister says there is going to be a major economic announcement for the Bahamas and New Providence. Must be something big that will have an impact on the economy as he's talking about the long term effect. Sounds like it will bring long term opportunities for everyone. I guess an oil industry and oil discoveries will have the potential to do that, as they're long term activities that will bring mega investment, jobs and business opportunities etc..His timing is about right if so, sounds like he's excited by it, imo.

[linton78] 19/8/2019 18:18

It may not be the first time Shell have put NDA’s in place in the Bahamas...



There is no direct link here with BPC but it certainly makes you wonder. Shell must be in pole position with the government if they can fix the energy crisis in New Providence right now (electricity black outs, embarrassing for tourism etc, etc)

More on the power issues:

[todpodger] 19/8/2019 18:08

Announcement in potter's timeframe just before AGM would be nice nowt wrong with dreaming all we have at moment.