Bahamas Petroleum Share Discussion Threads

[mistt] 10/2/2020 07:31

...no pun intended....

[whoppy] 10/2/2020 07:27

It must be well over subscribed.

[whoppy] 10/2/2020 07:12

I can imagine there is just one person in the Bahamas trying to deal with it all.

[whoppy] 10/2/2020 07:08

Administrative 3 days extension. Are they having trouble counting all the money and scaling back the allocation.

[smoothtrader] 10/2/2020 02:23

At 87p or 89p we'll all be smoking Monica Lewinski cigar.?

[specialistslegion] 09/2/2020 23:28

Hahahahaha 87p. No how about 870p!!!! Unfortunately it will never happen but even I would love as high a price as possible but without farmin 5/6p during the drill is The best we will see.

With farm in 9-10p

[richard26] 09/2/2020 22:18

Smoothtrader.....get it right... 87p

[specialistslegion] 09/2/2020 21:41

By the way if anyone knows who this Simon is please let me know. Also why has BigSI gone so quiet? He had half a brain more than most of you here and he still did not pass 50% by much - smooth and a few others excluded :)

[specialistslegion] 09/2/2020 21:38

Smoothtrader

I think that will be a wrong strategy if he turns down a potential farm in partner.

As long as the request from the major is not totally unreasonable (and I do not think it will be) it is a sound financial decision to pass the capital risk to a third party. Remember that the CLN converted at 2.5p means another 450m shares and hence another significant dilution for current shareholders which on the face of it might still look better than giving 70-80% of the company away.

However the CLN will still only allow for a one well campaign while a major partner allows us to prosecute a multi well campaign - a far better spread of risk given the uncertainty in drilling one well. For that reason I will sell a majority (60-70%) of my holding and so will many other professional investors during the drilling if there is no farm in as opposed to only 20-30% if there was. Again this is only to manage the risk properly but we will be better off and the share price will hit a higher absolute level with a partner although I see the chance of that happening at this late stage minimal at best.

[whoppy] 09/2/2020 20:33

I presume news on the MF Monday or Tuesday followed by updates on operational activities.

[linton78] 09/2/2020 20:27

Too much Ribena for you tonight BigSi.

[specialistslegion] 09/2/2020 20:23

I personally am a big fan of BigSI and have said so repeatedly. This Simon chap is new though. 😀😀😀

[specialistslegion] 09/2/2020 20:19

Who is this Simon Garfunkel? Is he a market specialist? Is he a Guru like our Messiah????

[specialist protector] 09/2/2020 20:15

I am totally confused!!! Who is this BigSI??

[linton78] 09/2/2020 20:14

Thanks again Simon.

Goodnight!

[specialist is the living god] 09/2/2020 20:13

I think BigSi has been outed. Hahahahaha Complete idiots here all round.

[specialistslegion] 09/2/2020 20:11

Are people pretending to be who they are not?? I will be having a chat to them.

[globalspecialist] 09/2/2020 20:09

Ok. I admit. I am BigSI. So what?? It was the wrong account though 😀😀

[linton78] 09/2/2020 20:02

Did you log into the right account there bigSi?

Rodney you plonker !!!

[whoppy] 09/2/2020 19:52

For those who have followed BPC from the beginning the strategy for BPC is to drill find oil that validates the 3D and sell the oil find to a major. They will not be hanging around and spending/raising funds to be a producer. 2Bn barrel discovery at $5-7 a barrel in the ground would see $10bn, not a problem. That's about £3 a share with 2.5Bn shares in issue.

[globalspecialist] 09/2/2020 19:34

... Or the other side of the argument is why after walking away a year ago (which was due to the restrictive time of the license) did they not come back once the uncertainty was removed. If they wanted to come back pre-drill they would have done before BPC had raised funds through shareholders as they could have negotiated better terms than post financing or once the CLN is released as the company will be in a stronger negotiating position.

As much as I want a farm in partner as it shifts a major capital risk away from the shareholders and allows for a multi-well campaign in my view it is highly unlikely that we will now see one pre drill in April.

I genuinely hope they find a partner although experience says otherwise. Furthermore without a partner I will sell another 60-70% of my holding during drilling as opposed 20-30% if they had a partner given the different risk profiles.

For that reason I see 6p as the absolute top during drilling without a partner and possibly approaching 10p with a partner.

I look forward to the muppets who will jump on me to be a deramper but I very much welcome what will come your way. If you have sound reasoning to argue against this based on facts I however welcome that.