Bahamas Petroleum Share Discussion Threads

[computercoders] 10/10/2019 08:39

Second selloff coming...this time more harsh

[specialist is the living god] 10/10/2019 08:39

This is going down to around 1.2p by the weekend. Great place to short but still IG is not allowing it (the message says "The market may not be sold to open due to stock borrowing restrictions in the underlying market" - when it opens everyone will treble my shorts in my view :). As soon as it opens the floodgates open in my view.

The viability of the company is now in question.

[computercoders] 10/10/2019 08:38

At at 1.85p again

[toolsmoker] 10/10/2019 08:38

Closed short from 2.6p area at 1.85 today been a pleasure

[beeks of arabia] 10/10/2019 08:38

Of course. Your type always manage to flog just before a drop.Tragic, it really is.

[stewart4990] 10/10/2019 08:36

Morning,

I was rather encouraged last night by Whoppy and Linton's comments but when I read the RNS this morning I decided to close the bulk of my spread positions and closed out at 2.15 so ok with that.

I have left a few on the table and have not sold any of my main holding, clearly I hope they do or a farmout would be great and I would buy more at higher level

There is in my view a bigger risk in that will they get the open offer away at 2p, I am optimistic but its a gamble and happy I have reduced my exposure almost black or red

IMHO

[computercoders] 10/10/2019 08:36

Beeks I sold at 2.25p

[computercoders] 10/10/2019 08:35

I think the super majors will snap up the licence from the government now once it's revoked. They've had a good nosey in the data room. What else can the company offer?

[beeks of arabia] 10/10/2019 08:35

LoL! Another computercoders tragedy.Oh well, 3 out of 3 is impressive.

[whoppy] 10/10/2019 08:34

That's understandable, but on any success shareholders will reap the rewards rather than the institutions. Keep your eyes on the prize.

[apfindley] 10/10/2019 08:33

Just shows how dire the situation is.If 3rd parties really were interested in drilling and having a farmin here then they would be done it already and stumped up drilling money in exchange for a good slice of the asset. And because they've not emerged, the company gas also failed to raise funds by way of placings, even discounted ones yet.The market isnt impressed and continues to wait for that 1.2p rather than buying 2p shares which everyone will struggle to sell at the same time.

[computercoders] 10/10/2019 08:33

The3for2 - it isn't the first time the company has treat shareholders with absolute contempt.

[the3for2] 10/10/2019 08:31

Quite frankly I feel let down with the company approach here.

I accept that if a PI were to invest in to buying more shares at a similar percentage of their holding against the overall shares in issue then there is no dilution. That assumes the PIs actually have the funds or trust the company.

I have to agree that Potter pumped this to get a raise at a higher price.

Not happy and trust is dented

[whoppy] 10/10/2019 08:28

350m shares for 7m. So based on about 1.7bn shares that's 1 offer share for every 4.85 held amongst holders.

[specialist is the living god] 10/10/2019 08:27

There is so much PAIN to come here. This offer has a high chance of failure or at least falling well short of the $7M mark in my view. In such a scenario the market will seriously question whether anyone is ready to fund them around these levels given they have failed twice.

As such the focus then moves to the viability of the company and the likelihood that they can only raise funds at around 1p so we will see those levels over the next week in my view.

[rayrac] 10/10/2019 08:23

I'm out above 2p, having bought in well below that computercoders! But it�s a tough outlook for those not so lucky. :(

Not much humility on this board!

[specialist is the living god] 10/10/2019 08:23

Computer codes - this is not YOU!!1 Every post you make not only is sensible it is also correct in exactly how it works.

I SINCERELY APOLOGIZE TO YOU.

[specialist is the living god] 10/10/2019 08:22

It was a good story but all good things come to an end. GOODBYE MY LONGs - LISTEN TO THOSE WHO HAVE EXPERIENCE. Donot make stories up to please yourselves. Markets are ruthless and donot work that way.

Put down the potential bankruptcy here down to an expensive lesson.

[computercoders] 10/10/2019 08:20

Dead cat bounce 1.8-2 they'll take it down lower in the next wave to trigger stop losses which may cause algos to kick in on the sell off. Be cautious.

[specialist is the living god] 10/10/2019 08:20

THE OFFER HAS NOW FAILED IN MY VIEW BY 8:18AM - 18 MINUTES AFTER GOING OUT. 1.7-1.85p -

Now the market will question whether they will ever drill in my view before bankruptcy. We will get to 1.3-1.4 by the weekend and then possibly below 1p next week IN MY VIEW. SHAREHOLDER WIPEOUT IS VERY LIKELY IN MY VIEW.

[computercoders] 10/10/2019 08:17

Rayrac I'd be very cautious here now

[specialist is the living god] 10/10/2019 08:17

1.7-1.85P - WELL DONE COMPUTERCODE - AT LEAST ONE LONG SAVED THEMSELVES. WELL DONE AGAIN

[whoppy] 10/10/2019 08:17

It's just the market sorting out the weak from the strong. Selling sub 2p is not very wise obviously. Buying sub 2p is wise.

[rayrac] 10/10/2019 08:17

The risk is too high? Can�t see someone holding 100,000 shares...and there must be many holding that or more..forking out �2,000 for ea 100,000.

[computercoders] 10/10/2019 08:16

Could go to 1.2p today. Lots of uncertainty here not and contradictory RNSs. Looks to me that it was pumped with last week's RNS. Same as putting out a new contract RNS followed by a placing RNS.