Bahamas Petroleum Share Discussion Threads

[whoppy] 03/9/2019 09:17

Todays news and BPC's position not understood. Get rid of the uninitiated sells today and this will fly in next few days.

[linton78] 03/9/2019 09:15

This study has corroborated the likely presence of a Late Jurassic oil-prone source rock and active petroleum system in the Santaren Channel, which is the precise location of BPC's licences and the intended drill site.

This Late Jurassic source rock is analogous to the Smackover interval producing in deep-water Eastern US Gulf of Mexico, and has also been calibrated as the source of nearby onshore Cuba oil production. This Late Jurassic source rock is in addition to the previously recognised Early Cretaceous source rock in the region, also sourcing production in nearby Cuba and onshore Florida.

[whoppy] 03/9/2019 09:14

Sounds like Guyana

[dipla] 03/9/2019 09:10

think so...

[mpls] 03/9/2019 09:10

So two plays for one drill?

[whoppy] 03/9/2019 09:06

There appears to be two source rocks the Early Cretaceous and the Late Jurassic.

[whoppy] 03/9/2019 08:14

Sounds even more likely that the oil is there. A major will surely farmin. Talking of multiple wells and now wondering if we are better off keeping 100% considering the results of the technical work and the evidence on hand. Any major will be salivating, so for me the number of wells they commit to will be key in any farmout. Thinking they will want to drill this with initial 4 or 5 wells as the licences are so big. Considering the cheap costs to drill, it shouldn't be a problem and will maximise chance.

[rayrac] 03/9/2019 08:08

Never fall in love with a share...it’s just a good speculative buy for any spare dosh some might have.

[martyn9] 03/9/2019 08:06

Bpc obviously trying to ensure that the success of drilling is even more positive imo.

[linton78] 03/9/2019 08:05

4p to buy!

[tidy 2] 03/9/2019 08:04

Created an exhaustion gap up. Should have issued this RNS mid session.

[laallee] 03/9/2019 07:51

Don't forget the tarballs washing up on the shores.......

[todpodger] 03/9/2019 07:48

Trolls are up early must be cold under their stone.

[glennrcharles] 03/9/2019 07:44

They'll be telling us next they can smell the fumes. 4p?

[al h] 03/9/2019 07:41

Almost certainly a fund raising going on ... hence the drip, drip of news to keep the share price up whilst the people involved forward trade the shares to be issued. Illegal ? Nah .... this is AIM ... in the Bahamas.

[apfindley] 03/9/2019 07:27

More fluff to keep the news flow.Lol

[linton78] 03/9/2019 07:26

Very positive update.

Interesting collaboration with Cupet.

[archlight] 03/9/2019 00:00

Incredible. It has hardly moved position in 12 hours.

139
WTNT65 KNHC 022249
TCUAT5

Hurricane Dorian Tropical Cyclone Update
NWS National Hurricane Center Miami FL AL052019
700 PM EDT Mon Sep 02 2019

...EXTREMELY DANGEROUS DORIAN REMAINS STATIONARY AND CONTINUES TO
POUND GRAND BAHAMA ISLAND...

SUMMARY OF 700 PM EDT...2300 UTC...INFORMATION
----------------------------------------------
LOCATION...26.9N 78.4W
ABOUT 30 MI...55 KM NE OF FREEPORT GRAND BAHAMA ISLAND
ABOUT 105 MI...170 KM E OF WEST PALM BEACH FLORIDA
MAXIMUM SUSTAINED WINDS...145 MPH...230 KM/H
PRESENT MOVEMENT...STATIONARY
MINIMUM CENTRAL PRESSURE...941 MB...27.79 INCHES

[armatrading] 02/9/2019 22:24

It's a bit chicken and egg... if we don't vote for the potential dilution, then we won;t have a good hand in any farm-in negotiation, and we deffo won't be able to go it alone... we'll be in a very vulnerable position.

(and it won't necessarily be the full 50% dilution that occurs.. that's just the maximum leeway to enable the board to raise funds)

[armatrading] 02/9/2019 22:22

Any sort of farm-in a dilution of sorts, as the major would want a large chunk of the asset (probably far, far more than the 50% reduction in initial value).
If we don't farm-in and go it alone (with Halliburton, et al), we will have 100% of the asset for up to about 50% dilution...
This is very valuable. So valuable, that it could well tempt a farm-in.
A farm-in can happen right up to the drill-bit going in the ground.
But if we don;t vote for the resolutions, we don't get the drill, and any potential major would be able to drive down the offer, and we could end up having to accept just 10% IMHO.

[cthesherrif] 02/9/2019 22:17

I’d prefer a farm in and shares not diluted to be honest

[laallee] 02/9/2019 22:10

Yes,we get diluted but the drilling commences. I prefer a small % of something than a bigger % of sweet fanny Adam.
But, you know all this? Right?

[linton78] 02/9/2019 21:40

aramatrading - great find, thank you.

Good to hear Simon lay out the investment case.