Bahamas Petroleum Share Discussion Threads

[tidy 2] 21/8/2019 10:18

Yep biggest prospect on AIM by far. 30bn barrels. Massive

[lithological heterogeneities] 21/8/2019 10:16

Lint,The problem I have is whether to sell after the first or fifth billion. Very stressful.

[linton78] 21/8/2019 10:15

Only half the share price after the second drill and another billion Litho :-)

[lithological heterogeneities] 21/8/2019 10:15

Answers on a very wide postcard.

[lithological heterogeneities] 21/8/2019 10:13

Wonder what the share price will be after our first billion barrels .:0)

[linton78] 21/8/2019 10:08

I just knew you would be back Tidy2!

Good luck. ps - its 30bn barrels... see the company presentation from march. :-)

[greenvulcan] 21/8/2019 10:02

Look forward to you being proved wrong! Fatfish filleted and filtered!Idiot!

[tidy 2] 21/8/2019 09:59

28bn barrel play back on then. Well done BPC

[brettmo] 21/8/2019 09:56

It is hard to be negative on this clever move by the company (though the doom-sayers on this site will still be miserable). This is a brilliant way of screwing a better deal from the majors or of even going it alone and keeping the goodies. Roll on the 2 billion barrel discovery as per Moyes Report.

[whoppy] 21/8/2019 09:56

Yes Linton I agree.
We have waited for this patiently and now we get the chance of delivery of a billion barrel oil find. So much work has been done and it's clear that Seadril Baker Hughs and Halliburton are on board. Maybe one of them will join us as a partner considering the low well costs and the efficiency of a drill service provider being able to probably save themselves money with everything coming from the GoM. Maybe waive the well cost for a % interest. The thing I like is we still have 100% of any discovery rather than a 10-20%.

[linton78] 21/8/2019 09:49

Whoppy - At long last !! Even a positive write up from Malcy... things must be looking up.

Hopefully we will see a sustained gradual rise right up until the drill now. I would also expect a major to come on board now and the company have some bargaining power so a 10% retain won't cut the mustard.

[whoppy] 21/8/2019 09:46

The financing here are the same investors who financed Arrow and Dart Energy. They are oil and gas experts. Arrow and Dart Energy were each sold for over a billion dollars, so they know a good thing when they see it, and have an excellent track record.

[fatfish] 21/8/2019 09:43

GreenVulcan
21 Aug '19 - 09:13 - 30397 of 30402
0 3 0
Good memories of last summers rise But today’s RNS is a game changer!
Just bought back in
The share price will be in double figures well before we drill IMHO
Good luck all

double figures my foot

Ramper alert

[whoppy] 21/8/2019 09:40

Impressive!!.

Bargain price for a rig and two wells for $50m or $20-30m for one. More or less two wells for the price of one, based on old well costs. We get to keep 100% of any discovery. That makes up for a lot and BPC are in control. I'm thinking a farmout now is more likely but any partner has only until the 11th October to do a deal. Drilling in the fist half of 2020 looks nailed on and I expect a billion barrel discovery just like Exxon.

[linton78] 21/8/2019 09:34

Bahamas Petroleum expects first well exploration in H1 2020 after reaching series of agreements
21 August 2019 | 08:37am

StockMarketWire.com - Bahamas Petroleum said it had entered into a series of agreements as part of a coordinated approach toward drilling its first exploration well in The Bahamas in the first half of 2020.

The company struck agreements on several steps to initiate exploration, including a framework agreement for a rig, appointments for essential well services with global oil services companies, as well as considerable progress on financial arrangements to fund the drilling.

The company entered into an agreement with Seadrill for a sixth-generation drilling rig, and appointed contractor Halliburton, as an integrated well services provider. BakerHughes GE was appointed to provide a range of well-related equipment.

The company's estimates of initial exploration well cost were revised lower to a range of US$25 to US$30m, or less than US$50m for a concurrent two-well campaign if funding permitted, the company said.

The company also reached a conditional agreement for a convertible loan investment of £10.25m, approximately half the anticipated cost of a single well.

Proposals were received for other financing alternatives, and farm-out discussions continued, the company added.

The company said it would called a general meeting, slated for 17 September 2019, to approve a several developments, including the convertible note investment and a proposals to expand share issuance.


At 8:37am: [LON:BPC] Bahamas Petroleum Company PLC share price was +0.51p at 2.11p

[linton78] 21/8/2019 09:32

BPC in talks for Bahamas rig

Framework agreement entered into with Seadrill as it targets drilling next year

[bigsi2] 21/8/2019 09:19

Here comes the drop

[greenvulcan] 21/8/2019 09:13

Good memories of last summers rise But today's RNS is a game changer! Just bought back inThe share price will be in double figures well before we drill IMHOGood luck all

[jungmana] 21/8/2019 09:11

3p likely today :-)

[linton78] 21/8/2019 09:10

up 52%... nice start

[shanur90] 21/8/2019 09:05

Drill happening either way but they are still in discussions on farm in so from the rns the dogs mouth

[linton78] 21/8/2019 08:51

Shanur90 - I had in mind a drill starting in Q1, say Feb.

The major cant just jump in at the last minute, there will be a cut off. They have had plenty of time to farm in by now.

[shanur90] 21/8/2019 08:48

License is there until end of 2020