Bahamas Petroleum Share Discussion Threads

[dynamohum] 13/3/2020 11:32

DynamoHum - 11 Mar 2020 - 08:29:33 - 39231 of 39539 BPC Ltd - BPC
The board have a get out free card in corona virus . . . . .

[manc10] 13/3/2020 10:55

anybody seen that disaster of a trader rayrac this is the guru who told an inexperienced investor to buy at its peek in september 18 if i remember around 6p

[tuckman] 13/3/2020 10:47

Whoppy, I am going for a punt on West Jupiter for fun, as this new `timeline` gives Seadrill time to sort there stuff out and no doubt IMO with this current climate a deal for costs of mobilisation will have been done because IMO Seadrill wouldn`t want it sat around doing nothing!!

Just a fun punt :) Dont really care just so long as we drill :)

[tuckman] 13/3/2020 10:35

If they delay the drill until November then the share price will go back to 1p IMO it will put all the previous work on fundraising out the window and show the board up to be a shambles. They could have taken the drill solo and used the CLN already if it was not for the `farm in` talks IMO. Also for the company to `drill alone` during the hurricane season with only a $5mill buffer is madness IMO, it would make me too nervous. The backing of a operator `super major` will de-risk everything and especially if BPC have `money` in the bank as part of the farm in deal and extra from the 50% left on the CLN this should IMO give us a double figure SP, if all goes to the plan in my head.

However I am certainly no LSE happy clapper as many things can still throw a spanner in the works going forward here and the risk for this drill is still high, until that `farm in` is signed and sealed. Deadline for the reduction of CLN is the end of the month. Hmmmm news before then, hmmmmm

All of us invested would love a double figure share price before drill and in the current climate who knows but hey ho who would have thought we would be back down at this price. Hopefully we are that low now that it takes any forward selling of the table for a while :). Would be nice if we could at least get back to that 3.35 Bahamas fund price soon enough

[lithological heterogeneities] 13/3/2020 10:30

Exxon Bahamas Petroleum (EPB)

RNS - 13.03.20

• Notwithstanding the recent decline in oil prices, farm-in discussions in the context of the Company's overall funding strategy continue to advance

• Continued its efforts to seek a farm-in or similar transaction as part of its overall risk mitigation and funding strategy, and has maintained an active dialogue with a number of interested parties, including a NUMBER OF oil and gas MAJORS and SUPERMAJORS.

• Simon Potter, Chief Executive Officer of Bahamas Petroleum Company, said:
"Pleasingly, farm-out discussions in the context of our overall funding strategy continue to advance. We will update shareholders as appropriate over the coming weeks."
-------------------------------

Really looking forward to the re-naming of company to Exxon Bahamas Petroleum (EPB) "over the coming weeks".

[lithological heterogeneities] 13/3/2020 10:29

Excellent post Whoppy

[globalspecialist] 13/3/2020 10:20

Game all over. BPC collapsing. Went short before deadline. Short on Dow. Millions being made.

BPC going bankrupt soon taking mugs out with itself.

[whoppy] 13/3/2020 10:19

That would be like Wow! It is looking more and more likely, have to say.

[brettmo] 13/3/2020 10:18

Expecting a farm-in deal pleasingly soon and that Exxon will be our partner using the rig that Simon had lined up. Hopefully news by 31st March.

[gunsofmarscapone] 13/3/2020 10:14

Thats it then, the exploration well starts in November with only 5 million dollars contingency. More money will be spent trying to fill the gaps in logistical planning due Covid-19.

Then after all of that its ‘pin the tail on the donkey’ time with a wildcat exploration well.

[whoppy] 13/3/2020 10:12

Just seen the RNS. I would say this has been done at the request of farmin partners to relieve pressures on logistics and deal with Coronavirus, so they have more time for final preparations for farmout deal and drilling, without rushing it. May/June spud must mean a rig is identified, probably belonging to a major, otherwise the flexibility wouldn't be there to be able to say the spud will be 1 or 2 months late, particularly if it's a Seadrill rig like West Saturn which has been selected by Exxon. It could mean BPC still go it alone if the West Jupiter is used, which gives time for it to travel from Tenerife, but doubtful due to cost of mobilising.

[gunsofmarscapone] 13/3/2020 10:07

Thats it then, the exploration well starts in November with only 5 million dollars contingency. More money will be spent trying to fill the gaps in logistical planning due Covid-19.

Then after all of that its ‘pin the tail on the donkey’ time with a wildcat exploration well.

[linton78] 13/3/2020 10:02

Tuckman - the voice of sense once again! I agree they have overplayed the COV-19 card to buy more time... and why not, use this to our advantage.

The farm in looks very promising now. I think we will get a 50/50 deal with $25m cash from Exxon.

Share price north of 15p on spud date.

[lithological heterogeneities] 13/3/2020 09:51

RNS - 13.03.20

• Notwithstanding the recent decline in oil prices, farm-in discussions in the context of the Company's overall funding strategy continue to advance

• Continued its efforts to seek a farm-in or similar transaction as part of its overall risk mitigation and funding strategy, and has maintained an active dialogue with a number of interested parties, including a NUMBER OF oil and gas MAJORS and SUPERMAJORS.

• Simon Potter, Chief Executive Officer of Bahamas Petroleum Company, said:
"Pleasingly, farm-out discussions in the context of our overall funding strategy continue to advance. We will update shareholders as appropriate over the coming weeks."
-----------------------------------------------------------------------------------

Really looking forward to the re-naming of company to Exxon Bahamas Petroleum (EBP) "over the coming weeks".

Did they really delay it due to Corona Virus...or to conclude Farm-In?

[bunz3] 13/3/2020 09:30

tidy ,good to read news on update on shorting
thatsmart 1 ,thanks for links will pass it on where vitamin C tablets can be bought l ,also have been talking to a number of other people who unable to purchase vitamin C as people try to build up immune to try and help with risk of covid 19 or even the seasonal flu ,

[thatsmart1] 13/3/2020 09:06

tidy. They should have done this when the crash started but the horse has already bolted, still, better late than never.

[thatsmart1] 13/3/2020 09:04

bunz3. Suggest to your family member they go to hxxps://www.healthspan.co.uk. Excellent prices, excellent services.

[linton78] 13/3/2020 08:55

Good job tidy. It’s a MUGS game shorting...

[tidy 2] 13/3/2020 08:50

Friday 13 March, 2020Financial ConductTemporary Prohibition of Short SellingRNS Number : 0227GFinancial Conduct Authority13 March 2020 NOTICE OF TEMPORARY PROHIBITION OF SHORT SELLING13 March 2020The Financial Conduct Authority ("FCA") notifies that it temporarily prohibits short selling in the following instruments and transactions under Articles 23 (1) and 26 (4) of Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012.Nature of measure:a) short sale prohibition for sharesScope:a) Please see Annex 1 below for the instruments concerned b) all UK trading venues on which the instruments are tradedc) any person irrespective of their country of residence (subject to the exemption below)Entry into force of the measure and duration:a) Date: 13 March 2020 b) Time: immediatelyc) Duration: Until the end of the trading day on 13 March 2020Reasons for imposing measure and evidence:Following the action taken by CONSOB in the instruments below, the FCA is satisfied that it is necessary to take the action set out in this notice to assist CONSOB, taking into account:a) a similar price fall in the instruments on UK trading venuesb) the volume of trading in the UK

[bunz3] 13/3/2020 08:49

nice one now blue ,I am disappointed might be delayed ,because of covid 19 sadly many people have died in different countrys ,family member went to buy vitamin C tablets
yesterday ,sold as people building up ammune system in case of covid 19 spreading more .would have thought health shops would have had better stocks ,not so good for any one shorting bpc to see back in blue again at this moment

[globalspecialist] 13/3/2020 08:35

The many share buyers push the bid up before wipeout. Hahahhahahhah