Bahamas Petroleum Share Discussion Threads

[pro_s2009] 19/11/2020 16:28

So......

Will there be a

Friday 7am rebuttal RNS by BPC saying "full steam ahead".......

or a

Friday 5:00pm RNS saying "Delayed..........."

or

Neither ?

[specialist protector] 19/11/2020 16:28

Very true Rayrac and once again a great observation by BigSi - if this is forward selling by Bizzell on their 2.5p allocation then so be it - on announcement of the release of the CLN if most of the selling is done by then, then we can expect a big bounce and actually it does make a lot of sense given the volume but we donot know for certain.

One thing is very clear - putting the idiots in the dark aside who are clueless, BigSi's insights and understanding is without a shadow of a doubt exceptional and second only to the MESSIAH OF KNOWLEDGE.

[whoppy] 19/11/2020 16:25

BPC haven't changed the drill ship. The drill ship was never named. The West Saturn was thought to be the drill ship back in March. The only specification that was to be included in the EIA was that the drill ship was to be a double derrick drill ship with MPD capability. The Stena Icemax meets this requirement. If this is what they are hanging their judicial review on, saying that the EIA was not completed due to a change in drill ship and therefore claim it needs reopening under the terms of the EPPA, then it's clear there is no case to answer, as the EIA was completed with the specification of the drillship written in, apart from the name of the drillship, which could not have been known. The Icemax meets the specification required by the EIA.

[pro_s2009] 19/11/2020 16:22

The way Smith paraphrased it is simple to understand - BPC have been warned not to proceed - if they proceed and ignore the warning, all additional costs are to the account of BPC as they have ignored the warning at a time when delaying would have cost no extra.

Thats the very clear messaging.

They issue the warning before mobilization so that if BPC ignore and mobilize, they have created their own problem.

IMO :)

[jackson83] 19/11/2020 16:21

wow sold up on Tuesday at 3.5p and now look heading down to 2p again lol... must be more bad new soon.

[dynamohum] 19/11/2020 16:21

They will drill irrespective of any legal action, why? because the ensuing financial penalties incurred by the Gov would be considerable, the Gov can easily stop extraction if oil is discovered.
These are the facts and why BPC have never gotten near a deal with a major or anyone else . .

[specialist protector] 19/11/2020 16:16

Yes the idiots in the dark are clueless muppets and would probably tip this as they have done over the last decade and they have lost 80% of their investment while everybody made 10x here and elsewhere by trading it. However I have to admit that I bought today from 2.557 and feel pretty confident that they will drill. I might be wrong but given where the company is I will find it astounding if the drill does not happen.

Furthermore the price action indicates general worry on the impending court case but the level of selling does not indicate that this is a disaster. Indeed the way Smith paraphrased it seems to me that they are hoping for a voluntary delay by BPC which will never happen - I also think Smith does not want to take this case to court where he will lose in all probability given that EIA approval has already been given and the company has proceeded on that basis for a while.

On the shortcome of funding - yes that is correct but I see any fund raise past a spud to benefit from the price rise - therefore I expect a pr spud rally to at least 3.5-3.8 level by the spud once the court case fails - then a 20% drop on the day of the spud to 3p followed by a fund raise half way through the drill at 2p. As such I remain confident that it was the right decision to buy today. We will know in a few week times.

GL all

[hotaimstocks] 19/11/2020 16:16

funding was at 2p

[rayrac] 19/11/2020 16:15

To many experts with ulterior motives, that will have no affect on the outcome.

Don’t hold but watching.

[jungmana] 19/11/2020 16:15

Possibly Malcy can help here

[armatrading] 19/11/2020 16:15

Latest Nassau Guardian article, which quotes sections of the letter sent to Simon Potter:

[hotaimstocks] 19/11/2020 16:14

get your cash out ASAP ,,, delayed until 2022 lol .. 0.05p / 1p next year.

[martyn9] 19/11/2020 16:12

If that was the case they would have had to issue rns well before today!!

[hotaimstocks] 19/11/2020 16:11

bpc have had the last laugh again as always .... zero pence soon lol

[bigsi2] 19/11/2020 16:11

SP dropping on buys -Sell orders still getting filled.For Holders sake best if its Bizzell forward selling Warrants ...

[thatsmart1] 19/11/2020 16:09

What can they say? The fact is there may be a court case, they could repeat that I suppose.

[dynamohum] 19/11/2020 16:07

Squeaky bum time. . . . Again

But not to worry Whopper and Linton and sundry rotten eggs will be here soon to comfort all the mug punters and muppets .

Best time to buy, and this is a tip from the top 🕵️

Only when and if they drill and then only on a commercial discovery . . .

[hotaimstocks] 19/11/2020 16:07

get your cash out ASAP ,,, delayed until 2022 lol .. 0.05p / 1p next year.

[the3for2] 19/11/2020 16:06

deramps most shares

[martyn9] 19/11/2020 15:59

Egg,exactly what i said earlier today, the bod need to announce rns tommorow to stop the rot and put investors minds at ease.

[hotaimstocks] 19/11/2020 15:58

1p or lower soon

[hotaimstocks] 19/11/2020 15:57

keep shorting lads .... down she goes before its suspended on NO deal news tomorrow ... hard to sell volume now... bad news soon.

[hotaimstocks] 19/11/2020 15:54

fill your pants time as we could be below 2p tomorrow

[hotaimstocks] 19/11/2020 15:53

some huge selling today ....

[eggchaser] 19/11/2020 15:51

The only way this is going to be sorted is the company need to steady the ship or is it going to be one of those typical Friday afternoon RNS's...