Bahamas Petroleum Share Discussion Threads

[jbt2007] 24/10/2019 13:02

Thank you for confirming Simon, true to form. The truth is often inconvenient isn't it. I assume that you are familiar with Eytan's CV, Dart Energy etc

[bigsi2] 24/10/2019 12:32

I see despite being clearly wrong you are sticking to your amusingly stupid opinion that I have multiple accounts. That makes you rather a mug too doesn't it sweetie

[bigsi2] 24/10/2019 12:27

Yes he did a great job trying to place with IIs- gold star

[jbt2007] 24/10/2019 12:12

BigSi2/Specialist, you like the word "mug" don't you!
Eytan Uliel has a very good track record of deal making, fact.

[stewart4990] 24/10/2019 12:02

I assume BPC will know on a daily basis how the OO is going, is that correct ?

[linton78] 24/10/2019 12:01

joejoe - i noticed that.

They must have a good sense of how the offer is going, i received my letter in the post yesterday but most people would have actioned it by now.

[bigsi2] 24/10/2019 12:01

I believe he was referring to comparatively LOW risk-

[joejoe81] 24/10/2019 11:55

Potter misspoke surely ?25 - 30% chance of success in new frontier drill is HIGH not low .nb. Open offer fully taken up here.

[bigsi2] 24/10/2019 11:53

At least on first impressions Simon Potter engenders rather more confidence than Eytan Uliel, who in my view inspires about as much trust as a sleazy used car salesman.

[martyn9] 24/10/2019 11:35

A distinct possibility linton,fingers crossed.

[linton78] 24/10/2019 11:32

If that happens Martyn, a re-rate to 4p by the end of November?

[martyn9] 24/10/2019 11:22

We will know next week whether the OO has been a success or not, not long to wait and i would like to see a oversubscription.

[bigsi2] 24/10/2019 11:02

His exact words were "As we've always said, were moving forward with the farmout process" No I wouldn't read anything into that.Slightly misleading to imply no rush whatsoever with funding package as drill not till 1Q 2020- it's already been stated Seadrill will want to see visibility on finance before board agrees to drill contract. additionally for Potter to still be banging out these interviews on mugs r us outlets in my view shows that they don't see the OO success as a sure thing as yet. Rest is all just a rehash of 4 year old news

[dipla] 24/10/2019 10:49

your onto a winning LINTon78

[linton78] 24/10/2019 10:38

Today's interview with Simon Potter references farm out moving forward, but with no caveat that they may not close the deal...

Am I clutching at straws yet again or is a farm out being concluded?!!

[stewart4990] 24/10/2019 10:34

Well I have applied through my Lloyds account, I have taken up my allocation plus another 2/3 nice round number now.

[dipla] 24/10/2019 10:12

www.youtube.com/watch?v=oy5nISEm2xM

[linton78] 24/10/2019 10:09

Bahamas Petroleum now entering 'significant operational phase'

hxxps://www.pro......... invest*rs.co.uk/companies/news/905542/bahamas-petroleum-now-entering--significant-operational-phase--905542.htm

" Moving forward with the farm out process"

"Great confidence to fund the well".

[linton78] 24/10/2019 08:50

34991 & 34993 - Here's the simple answer - the company get to drill.

I'm sure your aware of the drill target and potential upside. BPC have 22 lead targets mapped out in their acreage which may well hold billions of barrels of oil. The geology is close to one of the oiliest area's in the world neighboring the Gulf Of Mexico.

The long term holders like me are piling into the Open Offer to finally see this acreage drilled.

NB - shares were 2.2p when the OO was launched so a 10% discount offered to LTH's. After that the share price will always generally retrace to close to the offer level.

[stewart4990] 24/10/2019 08:45

Well it looks like you have to pay more than 2p now, suspect as time progresses to a conclusion of the OO this will increase.

Thesherrif

If the OO fails your shares bought in the market rather than the OO will be worth a fraction of what they are now, so there is the value and reason to take the OO.

[martyn9] 24/10/2019 08:22

With an open offer no commission to pay for one,a gamble but hopefully offer price higher on the closing date of the OO.

[cthesherrif] 24/10/2019 08:19

Db, I’m wondering what the difference is as well. It doesn’t seem like good value unless the price on the open market was higher than the 2p. So what exactly is the benefit of buying these extra shares? Anyone know a simple answer? Thanks

[dbnout76] 23/10/2019 22:26

Am I missing something or just being thick....why wouldn't you just buy shares on the open market?? An open offer is a secondary market offering, similar to a rights issue. In an open offer, a shareholder is allowed to purchase stock at a price that is lower than the current market price. The purpose of such an offer is to raise cash for the company efficiently

[linton78] 23/10/2019 21:21

Whoopy - you did tell us in the summer that you like a gamble! Never a truer word spoken :-)

3for2 - I’m at that limit now also, If it all goes wrong it’s a calculated decision.

I’ve swapped emails with a couple of shareholders who own X percent here, much bigger than my holding, but it’s all relative. In reality I will never spend a penny of any upside as it will all go to the kids in the long run in some shape or form. For me right now, it’s just about getting the drill bit turning and value will come out for BPC.

Good luck all ! Buy those OO shares.