Bahamas Petroleum Share Discussion Threads

[bigsi2] 10/10/2019 10:48

My guess is shares are now being pre sold in volume for the inevitable II involvement. Good for II - poor deal for shareholders

[specialist is the living god] 10/10/2019 10:46

LOOK LIKE PANIC MODE NOW - ALL TRADES GOING THROUGH ARE SELLS

[specialist is the living god] 10/10/2019 10:46

So company couldn't get a placing away to city at 1.4 or even 1.2p so now ask pi's to pay 2p.
Even if they manage to raise the full 7m in open offer it leaves them only with the lower end amount to drill the well.....ie there is no room for error whatsoever. In drilling there is usually delays due to the so many unknowns in the geology of intended drill site. Every day rig is on site it racks up its daily rate and then the cost for specialist firms contractors, its only when there is a mechanical failure of say top drive motors etc that any company can hope to negotiate "downtime" discount from provider......yet there is absolutely no contingency for this in BPC budgeting.
In the event they actually hit and record any HC's and then confirm by running wireline they will then have to run full suite of logs 6 days min/ 2-3m cost. Really seems they are running this far too tight and its simply budgeted for a duster scenario if anything at all.
Also the company line about nominating a drill date from Seadrill is just bluster as all SD will say is "great come back to us to firm this up when you have all funds in place lads".....so until O/O is completed and CLN funds are in place BPC are really no further forward to drilling.
Most obviously it is impossible they can go to drill with such a lack of funding ( even with OO and CLN funding ) and they WILL have to raise further from the city at some point but have seriously burnt all bridges. So what can they hope to raise at from the city on a wildcat exploration drill in a new frontier area......1.2-1.4p.
BPC are basically shafting pi's by creating a high level of placing through open offer to establish the base for CLN's but will raise at far lower level.

Who knows those that acted as concert party to manipulate and pump the share price in last week ( ie lets all buy at 2p ) could well be closely connected to company or even receiving financial remuneration for their actions.
BPC has f'kd the city over , never a wise move , and are now shafting pi's.....its not setting any trustworthy standards to the investment community as a whole TBH.

[specialist is the living god] 10/10/2019 10:45

IT SEEMS SELLING IS NOW ACCELERATING.

[specialist is the living god] 10/10/2019 10:44

SELLERS EVERYWHERE - LONGS ARE BAILING OUT AS BROKERS TRY TO STABALISE THE PRICE in my view - When they let go the adjustment will be aggressive.

[specialist is the living god] 10/10/2019 10:43

Everyone is selling now. Brokers trying to stabalise the price but as their risk increases they need to let go. When they do a huge and sudden collapse to 1.5-1.6 later. in my view. Hold tight MUGS - you are going to love that ride.

[specialist is the living god] 10/10/2019 10:41

HUGE SELLS THERE - Collapse getting closer.

[whoppy] 10/10/2019 10:39

All those sells are buys, 1.9 and above

[specialist is the living god] 10/10/2019 10:38

So company couldn't get a placing away to city at 1.4 or even 1.2p so now ask pi's to pay 2p.
Even if they manage to raise the full 7m in open offer it leaves them only with the lower end amount to drill the well.....ie there is no room for error whatsoever. In drilling there is usually delays due to the so many unknowns in the geology of intended drill site. Every day rig is on site it racks up its daily rate and then the cost for specialist firms contractors, its only when there is a mechanical failure of say top drive motors etc that any company can hope to negotiate "downtime" discount from provider......yet there is absolutely no contingency for this in BPC budgeting.
In the event they actually hit and record any HC's and then confirm by running wireline they will then have to run full suite of logs 6 days min/ 2-3m cost. Really seems they are running this far too tight and its simply budgeted for a duster scenario if anything at all.
Also the company line about nominating a drill date from Seadrill is just bluster as all SD will say is "great come back to us to firm this up when you have all funds in place lads".....so until O/O is completed and CLN funds are in place BPC are really no further forward to drilling.
Most obviously it is impossible they can go to drill with such a lack of funding ( even with OO and CLN funding ) and they WILL have to raise further from the city at some point but have seriously burnt all bridges. So what can they hope to raise at from the city on a wildcat exploration drill in a new frontier area......1.2-1.4p.
BPC are basically shafting pi's by creating a high level of placing through open offer to establish the base for CLN's but will raise at far lower level.

Who knows those that acted as concert party to manipulate and pump the share price in last week ( ie lets all buy at 2p ) could well be closely connected to company or even receiving financial remuneration for their actions.
BPC has f'kd the city over , never a wise move , and are now shafting pi's.....its not setting any trustworthy standards to the investment community as a whole TBH.

[specialist is the living god] 10/10/2019 10:34

oops - we are going to go another leg down very soon in my view - hold tight MUGS - BUY BUY BUY hahahhaha

[specialist is the living god] 10/10/2019 10:33

Huge sell order it looks like

[bigsi2] 10/10/2019 10:31

Very large sell order looks like

[specialist is the living god] 10/10/2019 10:30

My lovely MUGS - BUY BUY BUY

[bigsi2] 10/10/2019 10:26

Offer is dropping on buys

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

MUGS - How does impending bankruptcy feels like - I only know the feeling of getting richer and richer I LOVE MUGS

[specialist is the living god] 10/10/2019 10:04

Bid at 1.85p - Feels like a big collapse is coming again - Hold tight MUGS - bankruptcy beckons in my view

[specialist is the living god] 10/10/2019 10:03

MUGS YOU ARE NOT BUYING - I NEED STRENGTH - PLEASE PLEASE MUGS BUY BUY BUY - Listen to Linton the Clueless, Whoppy and Foreskin. BUY BUY BUY MUGS or shall I say BYE BYE BYE MUGS. hahahhahhahahhahahahahhahhah

[whoppy] 10/10/2019 10:02

Lol, Some deep pockets invested in BPC.

[specialist is the living god] 10/10/2019 10:01

The MUGS were talking of +3p but with bid at +1.85p and about to come down in my view they were only wrong by nearly 50% haahahahha. MUGS listen to thE like of Linton the Clueless and Whoppy - I need strength to short into - ALL MUGS BUY BUY BUY

HAHHAHAHHAHA

[specialist is the living god] 10/10/2019 09:59

Poor MUGS going bankrupt - but in capital markets we have flows of capital from MUGS towards experience and knowledge. HOORAY

I LOVE MUGS - WE LOVE MUGS - BANKRUPTCY BECKONS IN MY VIEW

BID AT 1.85P hahhahhahahahhahhha

[linton78] 10/10/2019 09:57

Whoppy - the most likely option though is Litho coming in for full allocation, then taking the option to subscribe for additional shares and taking most of the entire offer up.

Essentially I can see him under writing this... :-)

[specialist is the living god] 10/10/2019 09:53

COLLAPSE COMING IN MY VIEW. -30% by the close?

[specialist is the living god] 10/10/2019 09:51

Bankruptcy now beckons in my view if they fail to raise the funds. Disaster looms. Stock down 14%! Market telling us everything we need to know.