Bahamas Petroleum Share Discussion Threads

[whoppy] 13/2/2020 08:43

They have a loan at 2.5p equity. It's a baseline, so they would want a placing at a higher price. No need to go lower. This is why the City is not getting a look in. Anything positive from the farmin talks will be the reason to delay any announcements regarding funding. Already had the CLN subscription extended to 9th March and the MF extended to 12th Feb, due to admin reasons. Won't expect an announcement on that yet as there is probably a lot of due dilligence being done on subscriptions and clearing payments etc, so they know the cash is there.

[pro_s2009] 13/2/2020 08:32

No news on the BMF.

No news on farm out.

No news on placing.

No news on CLN.


Pretty much SSDD - I do wonder if they are going to try (or are in process of trying) to get a placing done to eliminate the loan notes. Really would be the best thing they could do, but I would imagine for 10m that the price being offered will not be above 2p.....and until they can agree with someone to take the stock at 2p at least, its not going to happen.

Thats the issue with the BMF buy in price being 2p - it now limits the lowest price they can accept for a placing to get the funds - cannot really feed the BMF at 2p and then do a placing at 1.75p.

Going to be very interesting the coming days and couple of weeks. Watching intently.

[specialistslegion] 13/2/2020 08:29

The drift is on as concerns on the drill continue. Nothing can get us moving up again until the release of the CLN which reduces risk and the implied cost of capital of the business and hence increased valuation and NPV.

In the next few weeks we will know if we are going to 4.5p or 0.5p. Very clear really.

[specialistslegion] 12/2/2020 21:13

FOR MARTYN9 - There are no doom and gloomers here as they are not allowed. However the reality will be spoken here or this thread will shut down as it has no value. I am a very large shareholder and the fact is that only the release of the CLN at this stage will get the price moving as it increases the chance of the drill and reduces the implied cost of capital of the project (as I had highlighted before).

For reasons stated previously no one talking here moves the share price - not the blind bulls or the idiot bears. Only fact and fundamentals. I expect everyone even the idiots to be well behaved if they want a forum to talk intelligently about this stock.

[linton78] 12/2/2020 19:33

Cheers chaps.

:-)

[winchester so4] 12/2/2020 19:28

Paint it Black lolz

[richard26] 12/2/2020 19:17

enjoy the stones Linton

[linton78] 12/2/2020 18:47

Exactly Martyn - lots of noise, it’s all irrelevant and BS.

The BOD have more shares and options than most of us here on Advfn and know their stuff.

Let them get on with it.

Ps - Rolling Stones pre sale ticket secured today for Austin, Texas.

LOVELY JUBLY. :-)

[martyn9] 12/2/2020 18:15

The gloom and doomers still banging on their drums trying to drag this company down.My advice shut up and await facts from bpc.

[linton78] 12/2/2020 17:47

Evening Gents, another lovely day here in Malta. Enjoying a couple of Cisk lagers as we speak in St Julians.

Lots of noise around the fund, is it me or is it just a little nice to have capital raise that isn’t really important? Ok it does the soft fluffy PR stuff, but the take up is not material is it?

Back to the nightlife... :-)

[specialistslegion] 12/2/2020 16:32

Today you were generally well behaved. You get a B+ so tomorrow posting will be allowed.

[bigsi2] 12/2/2020 16:30

You should get a job at a bookies...standing outside reassuring punters

[bigsi2] 12/2/2020 16:29

Welcome to the real world ?

[whoppy] 12/2/2020 15:13

Yeah, they might not get the Environmental Authority, they might not get the CLN, the MF might not get any subscriptions, the Bahamas Government might put a moratorium on oil drilling, the rig might not pass inspection, the sea bed survey at the drill site might find a volcano or a sunken pirates treasure ship, OMG so much can go wrong!!
Tomorrow might not even happen!

[richard26] 12/2/2020 15:12

results 1700 est = 2300 uk time...

[bigsi2] 12/2/2020 15:09

Drill hype - all very true !!just bear in mind it's not a forgone conclusion as yet that the drill will happen ...

[dynamohum] 12/2/2020 15:08

Doesn’t this assuage your anxieties 😂

New crude natural gas reserves found in UAE oil-field

New reserves of hydrocarbons have been unearthed in Abu Dhabi, the capital of the United Arab Emirates. Last year about 7 billion barrels of crude oil and 58 trillion cubic feet of gas reserves were found hidden here. After the discovery of this stock, the UAE reached the sixth position in terms of gas and oil reserves in the world.
Country’s crude oil reserves are now 105 billion barrels
The Abu Dhabi Supreme Petroleum Council (SPC) announced on Monday that the country’s crude oil reserves have now risen to 105 billion barrels and conventional gas reserves to 273 trillion cubic feet after the discovery of new reserves.
UAE, the third largest producer of OPEC
Currently UAE OPEC (Organization of Petroleum Exporting Countries) is the third largest oil producing country and produces 3 million barrels of oil daily. Saudi Arabia and Iraq produce more oil than this. Crown Prince Mohammed bin Zayed Al Nahyan praised the efforts of the Abu Dhabi National Oil Company for this discovery.

[dynamohum] 12/2/2020 14:56

God I love this thread, you post news from BP about their future strategy and old acid casualties, muppets et-al can’t control their anxieties. . .

5pm eastern time folks . . 😎

[whoppy] 12/2/2020 14:25

You ain't seen nothing yet. Wait for when the drilling starts and volumes are 100m a day and the share price is doing 100, 200%. Rumours of oil shows in the mud shakers, oil on the drill deck, production tubing being ordered, gas kicks, gas flaring on the rig, blow outs, mechanical failure, drill pipe stuck, drill pipe twisted off, having to go fishing to recover tools.. why no news?..have they found anything?, delayed news must mean they've found something? or delayed news is bad news?... Mental central coming.

[thatsmart1] 12/2/2020 14:18

It's better over at the LSE board, this one is a waste of space now.

[winchester so4] 12/2/2020 14:15

If only we could harness the power of hot air