Bahamas Petroleum Share Discussion Threads

[whoppy] 30/8/2019 13:24

Bulletin Board Heroes. 4p+

[tidy 2] 30/8/2019 12:44

Before modern tech increased the potential reserves The Bahamas not only has oil – It sits on the world's greatest treasure – 17 Billion Barrels were discovered in 1986!hTTp://bahamaspress.com/2014/04/03/the-bahamas-not-only-has-oil-it-sits-on-the-worlds-greatest-treasure-17-billion-barrels-were-discovered-in-1986/

[bigsi2] 30/8/2019 12:15

Thanks for the correction-Notably RKH was also in a new frontier for exploration.

[martyn9] 30/8/2019 12:08

Buy on speculation imo or miss the boat!! pay your money and take a chance but odds in favour of drilling and a possible good result favourable.dyor.

[johny cash] 30/8/2019 12:04

That's another one to keep an eye on at current levels.

[mpls] 30/8/2019 12:02

RKH received US$231 million upfront cash payment + the free carry

[bigsi2] 30/8/2019 11:57

Ignoring the speculation pre AGM share price Steve is right, there are still some uncertainties. but the most important clarification to date is that a well will almost certainly get drilled. picking up on the cash poor situation statement made earlier - certainly true at present, but post a successful drill (especially at 100%) this would not be an issue post political/environmental approvals.Use RKH North Falklands as an example 100% 500mblls EOIP plus adjacent discoveries.Farmed out 60% to PMO for $150m was it in cash? plus a free carry on phase 1 of $1.8bn CAPEX retaining 60% of rest of licence.BPC targeting multiple folds with comparatively to RKH very respectable recovery estimates on the southern licence alone.

[mpls] 30/8/2019 11:56

I think the farm-in parties will have their private meetings at the Senior Management and board level and wait till after the AGM to play their hand. IMO the resolutions will be approved and by that time BCP will have a better understanding of the demand for investment into the up coming drilling, they may issue an AGM statement outlining the options.

They are coming to London before the AGM to promote themselves at the Proactive oil capital conference 12th Sep. They will be in town before hand no doubt to meet large investors and then the week after the AGM itself.

BCP will need monies secured before 11th October and a farmin partner knows this so I'd expect any move to happen end of September/early October. Of course we could get a surprise and one of the prospective partners up the ante before any of the others do.

I'm sure between now and then they'll put out an updated presentation to include more details on the two well sites, the first of which I'm led to believe is Perseverance.

[tidy 2] 30/8/2019 11:38

Keep saying this but at this speculative stage it is a must hold for the PF. Im expecting 6p min by the time of the AGM. Although a farm in could come before this.

[mpls] 30/8/2019 11:38

Steve, perhaps you should read the RNS:

"BPC continues to proactively pursue a farm-in as its primary financing strategy, and farm-in discussions are continuing with multiple parties"

"It remains the Company's preference to secure a farm-in"

"work has been tested and validated through the farm-in process with a wide range of industry majors and large independents"

"I wish to stress that it remains the Company's strong preference to secure a farm-in. However, the ultimate objective is to drill a well, whether that be funded via a farm-in on acceptable terms, or by other means, whichever is in the best interests of the Company."

[whoppy] 30/8/2019 11:31

This has not really got going yet. Much more to come and plenty of news that will excite.

[stevehuges] 30/8/2019 11:31

What like ? Numerous majors queuing up to review data ! Would be nice

[stewart4990] 30/8/2019 11:30

Walkermike1, Stevehughes,

It needs more news, good grief, read the RNS its a thesis and extremely detailed, lists out exactly what they are doing.

I voted Yes to all resolutions yesterday.

[mpls] 30/8/2019 11:26

News imminent

[tidy 2] 30/8/2019 11:26

Nice steady rerate awaiting further transformational news.

[walkermike1] 30/8/2019 11:23

Agreed. Needs more news or will just succumb to profit taking.

[stevehuges] 30/8/2019 11:17

Think we need a bit more on the bone to retain this forward momentum pal !

[whoppy] 30/8/2019 11:16

Sentiment has definitely changed. Should see some momentum in the next few weeks.

[gary38] 30/8/2019 10:59

Moving up nicely

[bigsi2] 30/8/2019 10:30

Thanks -But no offence taken-You need a thicker skin than that on an AIM BB.besides you seem a decent sort - and yes a good week for both Cricket and BPC

[linton78] 30/8/2019 10:03

BigSi - yes, a little rough that comment by me last night, nothing meant by it. Too many beers at the cricket perhaps for me... :-)

Anyway up, again... another great week.

[tidy 2] 30/8/2019 09:03

Plus remember now the rig prices are now more than 50% lower

[martyn9] 30/8/2019 08:59

Correct tidy,i'm sure bpc have done their research and calculations and know far more than so called experts spout on here to the detriment of the company.

[laallee] 30/8/2019 08:49

Still in with an 8p average Si. hoping to get a few out over 12p. Before Christmas!