Bahamas Petroleum Share Discussion Threads

[dynamohum] 24/2/2020 15:41

Irrational exuberance and Whoppers viagra . . . . .
But hey, I hope all under water have got some air , just don’t be too greedy
or you’ll get burnt big time . . . .

[lithological heterogeneities] 24/2/2020 15:41

Good spot about the "similar transaction" comment. Missed that one. Yes, you could be right.

[linton78] 24/2/2020 15:28

There's some large buys reported around 2pm... its rig confirmation or farm in... maybe both!

One thing I did notice is that the last RNS stated farm in or "similar transaction"... that makes me think we could see a consortium or something along those lines.

[lithological heterogeneities] 24/2/2020 15:24

Considering the big stock market sell off both here and in the USA this is doing unbelievably well further enforcing the possibility.Fingers crossed.

[linton78] 24/2/2020 15:24

I've been thinking that also Litho... volume edging up nicely now

[greenvulcan] 24/2/2020 15:24

Indeed! Approx 10% of today's volume happened within 10mins and they were happily buying in 500,000 and 1,000,000 chunks....at around 5.4p so plenty of purchases on every pull back and could well be Inst InvIMHO GLA LTH

[lithological heterogeneities] 24/2/2020 15:16

The strength of the rise and continued buying so far ahead of the spud makes me wonder if this is due to more than just the spud and that maybe it's more to do with Institutions knowing more about the Farm-out than many think ?

[2solaris] 24/2/2020 15:12

I see the muppet king is back.

[novice2006] 24/2/2020 15:11

Well done grandwood, I'm sure you'll get there pre-spud

[lithological heterogeneities] 24/2/2020 15:10

The strength of the rise and continued buying so far ahead of the spud makes me wonder if this is due to more than just the spud and that maybe it's more to do with Institutions knowing more about the Farm-out than many think ?

[grandwood] 24/2/2020 15:08

still only one third of the way to a free ride on this one so more work to do pre-drill

[globalspecialist] 24/2/2020 15:05

ahhahahahah - up 5% since I started buying and booking profits - I am dealing with a bunch of primary muppets in share dealing here hahahahahhaha

Messiah still buying so you muppets stop wetting your pants hahhahahahha IDIOTS

[globalspecialist] 24/2/2020 14:51

I LOVE YOU IDIOTS - STOCK UP 1.5% WINCE THE MESSIAH STARTED BUYING HIS 5M BACK. HAHAHAHHA

MUPPETS - LEARN LEARN LEARN HAHHAHAH

[globalspecialist] 24/2/2020 14:50

I LOVE YOU MUGS - SO EASY TO MAKE MONEY HERE - LIKE TAKING CANDY FROM A TODDLER HAHAHHAHAH MUPPETS - Donot worry it will go back up again except your Messiah continues to make alpha daily and you muppets sit on holdings like a rabbit in the headlight

hahahahahha

Muppets are reading every word of the Messiah so they also learn how to make money. Muppets you cannot. Time to buy now as we strengthen into the close. IDIOTS - so easy

[globalspecialist] 24/2/2020 14:47

The destruction of the muppets - hahahhahahahahha - losers, mugs, idiots hahhahahahah

Trading here is too easy with such muppets around but the market needs mugs and muppets like them. HOORAY

[globalspecialist] 24/2/2020 14:46

hahhahahaha - idiots - I sold another 5M at 5.6 but donot worry your Messiah trades this like a dream - Will start buying when offers hot 5 although. Will buy the 5M back to maintain my 10M long.

That worked like a dream - went quite - hit the stock - destroyed the muppets and once again taught them a lesson at how markets work.

[novice2006] 24/2/2020 14:41

Sold at 0.055 back in at 0.052 with more shares to show for it, I couldn't resist those juicy figures being banded about. Top slicing can wait till when I am off work next time.

[smoothtrader] 24/2/2020 14:25

I do remember these hitting 20p many moons ago. Good ride that was. I hoping much of the same. In at 1p now. Exciting times

[linton78] 24/2/2020 14:21

20p would do very nicely indeed... !

[alasparavolar] 24/2/2020 14:17

Bahamas Petroleum primed and ready for Perseverance wellCountdown underway for Perseverance wellMajor opportunity: testing a 770mln targetFunded regardless of farm-outPartnering talks continueBahamas Petroleum Company PLC -Quick facts: Bahamas Petroleum Company PLCPrice: 4.865 GBXLSE:BPCMarket: LSEMarket Cap: £106.15 mAbout the companyBahamas Petroleum PLC (LON:BPC) has five offshore licences covering four million acres and applications for a further five.According to broker Shore Capital, the explorer is on the “critical path towards drillingâ€?.In August it entered into a series of agreements as part of a coordinated approach towards drilling an initial exploration well in the first half of next year.Some big names were hired with Halliburton providing well services on a Seadrill drilling rig, and Baker Hughes providing other equipment.“BPC [Bahamas Petroleum has set a clear course towards the drilling of a maiden well on its southern licences, which have been substantially de-risked and delineated over several years and continue to provide world class prospectivity,â€? said Shore’s analyst Craig Howie in a note published in September.“Recent technical studies provide additional confidence, we believe, with last year’s exclusivity agreement with an oil major also providing validation. Whilst securing the necessary financing has taken longer than envisaged, we now see renewed momentum, tangible evidence of progress and scope for powerful share price catalysts in the months ahead.â€?How it is doingThe company’s hotly anticipated first exploration well is expected to get underway in April.It said that the well, to be called Perseverance-1, will be drilled in the northern segment of the ‘B Structure’ to target some 770mln barrels of recoverable prospective resources, with the ‘upside case’ estimates potentially pitched twice as high.The B Structure is seen across some 70-80 kilometres and could host up to multi-billion barrels of crude resources. The company noted that it has set up a temporary field office and other preparatory operations are underway - including well planning, contracting, and equipment procurement."BPC is in the final stages of readiness for the commencement of drilling our initial exploration well, Perseverance-1, in The Bahamas, with results from the well expected in Q2 2020,â€? said Simon Potter, Bahamas Petroleum chief executive.“The well location will be on the northern segment of the B structure, targeting a P50 recoverable resource of 0.77 billion barrels, but with an upside close to 1.5 billion barrels of recoverable oil.â€?Potter added: “Perseverance-1 has the potential to open a world class, new frontier basin offshore Bahamas, less than 200 miles from the world's largest hydrocarbon market/infrastructure.“In our view this makes Perseverance one of the premier prospects that could be drilled globally this year.â€?Funded for PerseveranceBPC on 20 February revealed it had entered into a £8mln convertible loan facility, with the first £2.43mln draw down available immediately.The facility is with what the company described as “a substantial Bahamian based institutional family-office investorâ€?.BPC noted that it farm-out options are still being evaluated as part of the company’s overall risk mitigation strategy ahead of hotly anticipated exploration drilling in Bahamian waters. Chief executive Simon Potter told investors that the facility would allow the company to “go it aloneâ€? if that was necessary.“Since mid-2019 we have progressively been implementing a coordinated funding strategy, with a view to ensuring we have access to the funds necessary for drilling, as and when we need them.“This measured approach means that we have now secured a funding package with considerably less overall dilution to shareholder equity than most commentators expected would be required.“Moreover, through this process we have consistently put the interests of our shareholders first.â€?Potter added: “Today's facility affords us greater overall funding availability, and a high degree of financial flexibility so that we can respond as may be needed to real-time drilling results.“We will see some immediate cash inflow to help manage the timing of cash-flow needs in advance of drilling (for example for long-lead/critical path items and advance credit payments required by service providers).“Thereafter, the remaining funds are committed, and available if the Company elects to draw on the facility as we progress through drilling.â€?What brokers saySP Angel analyst Sam Wahab, in a note on 20 February, said: “Whilst a farm-out would be the company’s preferred source of funding for its first well, the facility does provide shareholders comforts that BPC’s long awaited well will be delivered this year in our view.“If successful, Perseverance-1 would be transformational for the company, and indeed the frontier region in which it operates.â€?

[whoppy] 24/2/2020 14:17

20p Linton. It's the holy grail second only to striking oil. Striking oil with 100% however, beats a farmin.

[greenvulcan] 24/2/2020 14:16

Yup, straight to 20p IMHOEnjoying this steady rise though ATMGLA LTH

[linton78] 24/2/2020 14:14

Where will it go on a farm in with a 40% retain? Above 15??

[11_percent] 24/2/2020 14:14

43 million traded.....good to see it going up on volume....