Bahamas Petroleum Share Discussion Threads

[linton78] 23/2/2020 14:57

Laughable ...

[specialistslegion] 23/2/2020 14:33

Not at all. Given my shareholding it was right to sell 60% of my holding given the risk of further funding. The zero coupon notes changed the fundamentals and hence the implied risk of the project.

Given my substantial holding (over 10M) still I am very comfortable although for the record during drilling I will be selling at least another 50% of my holding into the results.

The only way I might not sell or sell less is if they manage to prosecute a multi well campaign following a farm in partner.

[specialistslegion] 23/2/2020 14:29

Not at all. Given my shareholding it was right to sell 60% of my holding given the risk of further funding. The zero coupon notes changed the fundamentals and hence the implied risk of the project.

Given my substantial holding (over 10M) still I am very comfortable although for the record during drilling I will be selling at least another 50% of my holding into the results.

The only way I might not sell or sell less is if they manage to prosecute a multi well campaign following a farm in partner.

[linton78] 23/2/2020 13:54

Lol.

The specialist has made a pigs ear of his trades until this point. Left a lot of money on the table.

[specialistslegion] 23/2/2020 13:00

I donot believe permission was granted to post although the great and wise BigSi is an exception 😀

[pro_s2009] 23/2/2020 09:20

If they strike oil they will be snapped up pretty damn quick for a big premium by a major oil company.

Dont think they would be able to resist a major throwing a massive wedge of cash at them to buy them out lock stock and barrel (lots of barrels).......

Guyana has an election on March 2nd which may really set back all oil exploration there if the PPP win.

Focus would shift immediately to the one of the next big potentials.....and that may be offshore Bahamas.

[linton78] 23/2/2020 09:13

What a great comeback by Tyson Fury.

Will BPC pull off something similar next?

Licenses running down in 2018 with no cash, to self drilling in 2020 with capital in place and a world class oil strike without the help of a major.

[pro_s2009] 23/2/2020 09:08

Heres hoping for more news this coming week.......

EA approval would be a nice start.

[specialistslegion] 22/2/2020 17:51

While I think the drill will go ahead they are still not fully financed and need the CLN to be released. That makes the CLN still a price sensitive event which should move the stock by at least another 15-20%. They are somewhere between $5–$7m short including small contingencies.

However the events of last week were of huge importance in terms of sentiment and confidence. The fact that a family office had decided to back them to the tune of £8M (£7.2 to reflect the pseudo interest costs)gives the market confidence that other financial vehicles are available to the company. Furthermore it signals to the CLN provider that they are not the only vehicle of choice for BPC and that makes the release more likely.

I now put the chance of a full financing at around 90% up from 60% prior to the entry of latest financial partner. As such they WILL drill in my view and we will be around 7-8p sometime during drilling.

Get a farmin partner and we will approach double figures.


Now to implement the ban for Muppets.

[linton78] 22/2/2020 17:07

Mattjos, I would agree with that. At one stage before licenses were renewed it looked like the company could go bust.

The BPC team deserve a lot of praise. I was lucky to time my investment here at 1p (Jan 2018) and picked up several million shares, which was substantial for me given the risk profile at the time. I had been following the company since 2010 and spoke with Simon Potter back in 2015 - post Macondo.

I am absolutely delighted the drill is going ahead and told that to Eytan in the week.

Hats of to BPC.

[specialistslegion] 22/2/2020 17:06

Muppets. Remember that your Messiah has granted you an F and this ban is being implemented without prejudice.

Your great Messiah expects total obedience from his flock.

NB. I know you are all reading every word 😉

[specialistslegion] 22/2/2020 16:51

The ban is being enforced without prejudice.

[specialistslegion] 22/2/2020 16:50

All communication lines are cut by the order of the Messiah.

[specialistslegion] 22/2/2020 16:50

Muppets. Posting here is not allowed until further notice.

[specialistslegion] 22/2/2020 16:41

Linton. With all due respect your comments on this stock is not akin to a well versed financier. I can therefore only assume that you might be knowledgable on corporate finance/structured finance as opposed to equity secondary issues or trading.



Having said that we unfortunately will have to move to the banning of the forum now although given your credentials If true I respect you more and hope we both make a huge amount here. By the way I am not BigSi / that was naughty of you if indeed he is Simon Linley.

All the best

[linton78] 22/2/2020 16:36

I can’t believe I missed that comment ! Lol.

[linton78] 22/2/2020 16:36

40% retain, appraisal wells and back costs surely are the benchmark at this stage.

[whoppy] 22/2/2020 16:32

Linton, yep, Eytan clearly says final proposals are waiting to be tabled. They'd better make them good, as it's their last chance to impress.

[whoppy] 22/2/2020 16:12

The last RNS did say farmin options being evaluated/under review.

[linton78] 22/2/2020 16:11

I’ve listened to the Vox video again and Eytan says final farm in quotes were requested. We may get a left field farm in at the last moment.

[whoppy] 22/2/2020 15:59

We all thought the exclusive farmin partner was Shell. I guess we will never know, unless they now accept they've been outplayed by BPC and are going to have to acquiesce. 2Bn barrels of oil might help them make their mind up, but as Yon says, tho option of going it alone and having a strike would be worth the risk. I guess it's all down to how confident BPC are in finding the oil, now that drilling on our own cancels out the majors, and gives us a 100%.

Where is the video from Proactive? I hope they release it Monday.