Bahamas Petroleum Share Discussion Threads

[martyn9] 27/8/2019 13:22

And it has!! can you do my lottery ticket for this week whoppy :))

[linton78] 27/8/2019 13:22

Must have been Tidy2 topping up.

[whoppy] 27/8/2019 13:15

Both the 3.7m were buys, imo.

[george192] 27/8/2019 13:14

Why will it rise this PM,??

[whoppy] 27/8/2019 12:38

Expect this will rise this pm.

[bones] 27/8/2019 12:10

The 2.2p x 3.7m was clearly a sell as it caused the markdown at 9.47. Hard to know what the other 3.7m was but maybe passed onto a buyer for a .05p markup. Possible. Defo not both buys, that is rose tinted given what happened to the price when the first one went through :)

[stewart4990] 27/8/2019 12:05

Are those 3.7M buys ? The price dropped at that point which would indicate sells.

[linton78] 27/8/2019 12:05

Just spotted one of those Zen... cheers.

[zen12] 27/8/2019 11:55

2 x 3.7M buys filled now showing..

[linton78] 27/8/2019 11:53

Hurricane to hit the Bahamas??

[robertjbeck] 27/8/2019 11:44

One should be enough. Multiple targets and a strike would be stratospheric. Dilution to fund the remaing amount to drill is likely much less than reduction in % from a farm-in. Slowely accumulating.

[dynamohum] 27/8/2019 11:38

It's all rather desperate from the bod , trying to at least have a look with one drill. .
Why would you want to be in with a massive dilution potentially round the corner. . .

I've 'slyly' sold my remaining holding from 2010. . . No point in holding at present .

[linton78] 27/8/2019 11:01

-- AGM called for 17 September 2019, to approve, inter alia, the convertible note investment, a proposed expanded share issuance authority, a proposed cancellation of existing options to be replaced with issue of revised new options, and approval of payment of deferred remuneration via the issue of new ordinary shares once the initial well is fully funded--

[dipla] 27/8/2019 10:54

when is the AGM?

[bigsi2] 27/8/2019 10:51

Stewart The exercise prices from 2-3p are for DCI shares options so are not relevant to the fundraise - which has no guidance attached as would be expected. as far as I can see having read the release in some detail but not in full as yet, the company has not stipulated as to whether the placing will unequivocally be to cover an additional appraisal option. personally I would expect them to focus initially on first exploration well and consider options at a later date post successful drill given current share price given the 1.8bn placing option if placed in full for just one exploration well this would raise the necessary $20m+ at around 1.2p worst case Given the companies past MO on AIM you wouldn't rule out a bit of share price manipulation prior placing.IMO if a farm out was viable option it would have completed by now.as such I expect fund raise.happy to be wrong although I prefer the option to go it alone and retain %

[stewart4990] 27/8/2019 10:18

Bigsi,

I wondered about forward selling but as far as I can see the exercise prices apart from 25M @ 2p are higher than the current price and why forward sell at moment for 002p it doesn't add up, I can see at 6p yes but not at this level, and indeed can they forward sell they should be tied in for a period.

I can only think that many who bought at 1p and below and I am one have decided to take some cash off the table following the rise to 7p a year ago but then fell back after the major walked.

I have not sold any, in fact added.

We should be much higher than the current price and I can see this happening as we get closer to the AGM and approval to go forward with the proposals as surely we must, I view the current position much stronger when the major paid us $1M for non disclosure.

Finally on dilution surely everyone expected dilution we are AIM we have no income so its either share issue, Institutional investors both which will be more shares or a farm in say for 50% and that way is basically dilution, but think 50% of 1 Billion barrels is huge or it could be many billions of course only the drill bit will tell us.

IMHO, DYOR.

[joejoe81] 27/8/2019 10:01

Totally agree. Like you I am cautiously optimistic a Farm-in will be announced late September/early October.

[rayrac] 27/8/2019 09:46

Bit of reading material....

[whoppy] 27/8/2019 09:45

Lets say they get shareholder approval for the convertible loan at 6p, (pretty much nailed on). It's possible any further funding may be done at a premium to the loan of 6p considering half the money would have been raised and the rig is booked for drilling and the size of the prospects we are drilling. 6p would have to be a benchmark, so any funding would be above this, maybe 8p.

[dipla] 27/8/2019 09:35

are these all sells this morning?

[bigsi2] 27/8/2019 09:34

Two increases of shares in issue since exclusivity announced and the likelihood of 2bn or 133% more dilution in the near future is why

[cthesherrif] 27/8/2019 09:20

Wondering why this time the price didn’t pop up massively like it did with the news on the major oil partner talks.
Surely this news is more positive.. surprised it’s not at 7p plus.
Thoughts?

[bigsi2] 27/8/2019 08:56

Post 12/9 will be interesting for sureUnfortunately there is a good chance (as anyone who has experience trading on AIM will know) that those 1.5bn shares will clearly not be just admitted to market but be placed with funds that are very likely to have forward sold in anticipation.IMO this explains the large quantity of retail buying the last few trading sessions but no increase in share price and large after hours sells reported.all IMO obviously