Bahamas Petroleum Share Discussion Threads

[globalspecialist] 17/8/2020 09:25

Dilution will and is destroying these shares. On a drill the stock will be 0.7p. Find oil and maybe back to 1.5p by the time full dilution happens. Hahahahaha hahahahaha

[globalspecialist] 17/8/2020 09:15

These idiots here like bin 🗑 boy, RottenEgg and Whoppy donot know that they are bankrupt. Market wising up that BPC will not ever drill and mug shareholders have been paying their salaries. Hahahahaha

[globalspecialist] 17/8/2020 09:14

Brilliant post here.

No one in their right mind should buy this stock because it will just keep on getting sold into by the CLNs company .

All the sheep on LSE keep on saying why is the share price falling (lol) .

I feel sorry for the sheep who listened to Starchild (lse chief ramper) because they would have lost money immediately and yet he still carries on ramping day in - day out .

I think he is selling shares behind their backs whilst having a massive short position open . Just like what the CLN company is doing .

This will keep in falling and falling as they keep on converting and converting - it will be relentless Mark my words .

3p - 2.1p currently - into the 1s next week .

Not only that but no one In their right mind should buy until the financing has been done.

I’ve tried warning people on lse but the sheep don’t wanna hear it and admit that I’ve been right all along whilst Starchild has sucked them all in whilst calling it horribly wrong

Hey ho ...

STRONG SELL

[bigsi2] 17/8/2020 09:10

Resolution 4 EGMthe Authorised Share Capital of the Company be increased beyond its current registered capital to having a share capital of £200,000 being 10,000,000,000 shares of 0.002 pence each.1/3 plus of capacity- with main chunk of fundraise still to go-Unless it is a total disaster and use Bizzell CLN

[12bn] 17/8/2020 09:06

stewart499017 Aug '20 - 08:34 - 934 of 934
0 2 0
Well clearly large selling continuing, keeping the trades just under the 500k and 250k levels to get them through.
I will continue to hold but at present this merger looks a disaster.

[arrynillson] 17/8/2020 08:53

12bn - ' crash to 2p offer very quickly IMO.' - what's wrong with you today that's got to be one of least aspirational deramps ever 12bn - people might think your hearts not in it anymore- let's have more of your 1p tosh - at least it gets a laugh!

On a more serious note I bumped into an anger management expert over the weekend and told him about the suggestions from you and BigSi2 that my posting was angry - he said if you guys post up the examples he'd have a look but scanning the last week he couldn't see what you were on about - he particularly wanted to see the posts where I allegedly ' angrily defend BPc ' BIgSi2!

[stewart4990] 17/8/2020 08:34

Well clearly large selling continuing, keeping the trades just under the 500k and 250k levels to get them through.I will continue to hold but at present this merger looks a disaster.

[apfindley] 17/8/2020 08:30

0.0002p options.So they're really free shares. And lots of them.

[bahamasoil] 17/8/2020 08:21

Rewarding failure has become the norm for CERP directors.

[12bn] 17/8/2020 08:07

Sub 2p soon imo.///////17 August 2020

17 August 2020

Bahamas Petroleum Company plc

("BPC" or the "Company")

Grant of Options and Issue of Shares

Bahamas Petroleum Company plc, the Caribbean and Atlantic margin focused oil and gas company, with exploration, production, appraisal and development assets across the region, announces that, on 14 August 2020, the Board of Directors of the Company approved, consistent with the terms and conditions of the recently completed merger between the Company and Columbus Energy Resources plc ("Columbus") (the "Merger"), the grant of fully paid ordinary shares of 0.002 pence each in the Company ("Ordinary Shares"), and options over Ordinary Shares ("Options") as follows:

- 21,325,966 Ordinary Shares to the former and current executives of Columbus, (the "Columbus Shares")

- 17,029,394 Options to the former executives of Columbus (the "Columbus Options"), and
- 34,216,815 Ordinary Shares to various Company advisors for their services in in connection with the Merger (the "Advisor Shares"),

The Columbus Shares and Columbus Options have been granted to former and current executives of Columbus, consistent with the arrangements agreed as part of the Merger. The Columbus Options are immediately exercisable for periods ranging from 4 to 7 years from the date of grant, at an exercise price of 0.002 pence per share.

Further, as part of the Merger, BPC had agreed that certain fees of various advisers - Gneiss Energy, Strand Hanson, Shore Capital, and VSA Capital - would be paid in Ordinary Shares. Accordingly, the Advisor Shares will be issued to these various advisers in lieu of monetary fees.

In addition, 8,700,000 Options have been granted to new employees of the enlarged BPC group (the "Employee Options") out of the Series C pool of options approved by the Company shareholders at the 2019 Annual General Meeting ("AGM"), the terms of which were disclosed in the notice of that AGM.

The Columbus Shares and the Advisor Shares (together, the "New Shares") will rank pari passu with the existing Ordinary Shares in the capital of BPC. Application has been made to the London Stock Exchange for admission of the New Shares to trading on AIM, with admission expected to occur on or around 18 August 2020 and CREST accounts will be credited as soon as possible after 8.00 am on 18 August 2020.

Following the issue of the New Shares, the Company's total issued share capital will comprise 3,408,207,658 Ordinary Shares.

For further information, please contact:

[12bn] 17/8/2020 08:05

Oh dear,dilution begins,the share price will crash to 2p offer very quickly imo.///////17 August 2020

17 August 2020

Bahamas Petroleum Company plc

("BPC" or the "Company")

Grant of Options and Issue of Shares

Bahamas Petroleum Company plc, the Caribbean and Atlantic margin focused oil and gas company, with exploration, production, appraisal and development assets across the region, announces that, on 14 August 2020, the Board of Directors of the Company approved, consistent with the terms and conditions of the recently completed merger between the Company and Columbus Energy Resources plc ("Columbus") (the "Merger"), the grant of fully paid ordinary shares of 0.002 pence each in the Company ("Ordinary Shares"), and options over Ordinary Shares ("Options") as follows:

- 21,325,966 Ordinary Shares to the former and current executives of Columbus, (the "Columbus Shares")

- 17,029,394 Options to the former executives of Columbus (the "Columbus Options"), and
- 34,216,815 Ordinary Shares to various Company advisors for their services in in connection with the Merger (the "Advisor Shares"),

The Columbus Shares and Columbus Options have been granted to former and current executives of Columbus, consistent with the arrangements agreed as part of the Merger. The Columbus Options are immediately exercisable for periods ranging from 4 to 7 years from the date of grant, at an exercise price of 0.002 pence per share.

Further, as part of the Merger, BPC had agreed that certain fees of various advisers - Gneiss Energy, Strand Hanson, Shore Capital, and VSA Capital - would be paid in Ordinary Shares. Accordingly, the Advisor Shares will be issued to these various advisers in lieu of monetary fees.

In addition, 8,700,000 Options have been granted to new employees of the enlarged BPC group (the "Employee Options") out of the Series C pool of options approved by the Company shareholders at the 2019 Annual General Meeting ("AGM"), the terms of which were disclosed in the notice of that AGM.

The Columbus Shares and the Advisor Shares (together, the "New Shares") will rank pari passu with the existing Ordinary Shares in the capital of BPC. Application has been made to the London Stock Exchange for admission of the New Shares to trading on AIM, with admission expected to occur on or around 18 August 2020 and CREST accounts will be credited as soon as possible after 8.00 am on 18 August 2020.

Following the issue of the New Shares, the Company's total issued share capital will comprise 3,408,207,658 Ordinary Shares.

For further information, please contact:

[spangle93] 17/8/2020 07:51

Ref the announcements of options today, (and what's another pack of confetti between buddies when you've 3.4 billion shares in issue?)


"The Columbus Options are immediately exercisable for periods ranging from 4 to 7 years from the date of grant, at an exercise price of 0.002 pence per share"

I didn't think it was permitted to issue options at a lower price than the share price when offered?

This seems to be at 1/1000th of the current price?

[eggchaser] 16/8/2020 21:44

That maybe the case RD but the result of the election was not known - and I think CERP holders have got a good deal when you think of what could come if projects come in - but like the election result it's not yet known!

[eggchaser] 16/8/2020 21:39

Wow BigSi you sound so much like the new idiot on LSE - MrMarketMakerLooks like Starchild and In4cred have you in their back pocket!!Lol

[whoppy] 16/8/2020 17:34

Aww Gawd not the old chestnut of oil spills and Bahamas Government banning drilling, or the US not allowing drilling..Lol

Let's just shoot this fox right now, like so many foxes we get from Tom Winnifilth and the gang on here.

Bahamas government have a legal responsibility to allow drilling. If they stopped any drilling for whatever reason, then they would be liable for all of BPC's expenses to date on the licences, which would be north of $100m. The government don't want to get sued by BPC. They would also like to have access to billions of barrels of oil in THEIR territorial waters.

As for hurricanes, BPC are not drilling in the hurricane season so it's neither here or there. Doesn't matter one jot.

Hope this clears up these simpleton posts from Tom and the shorting gang, who haven't got a bloody clue as demonstrated by their posts.

[linton78] 16/8/2020 16:52

Thanks Stu.

I did wonder where he got the Avatar from.

[bigsi2] 16/8/2020 15:25

Past performance does occasionally give an indication of future reruns lol2012"Our focus is now firmly on developing this fresh political mandate into progress with potential farm-in partners and thus drilling preparations over the next 12-18 months2013We are in discussions with a number of potential partners to join us in the planned exploration drilling programme and see the increased clarity from the Government as a supportive move in this process."2014"The Board and executive management have full confidence in the technical case as it continues to develop, in the timely execution of a farmout and, in order to further align interests with shareholders2015"All of these factors give confidence that during 2015 we will be able to secure the funding needed to pursue the enormous opportunity before us, in a manner that is value-enhancing for our shareholders2016Partnership discussions have been progressing well, and with the recent licence renewals, regulatory changes, and cash savings measures implemented, we have the time and tenure needed to pursue these to a successful conclusion2017-- The Company is confident of being able to conclude a farm-out and has several parties presently engaged in late-stage commercial negotiations2018It is thus incumbent on us at the Company to use the current window of opportunity, and during 2018, move forward to finalising an agreement sufficient to enable the commencement of the first exploration well on our licences.2019- Appointed Macquarie Capital Markets Canada Ltd as an advisor to assist the Company with various corporate initiatives with the goal of securing funding for the initial exploration well;MAY2020the Company is now actively seeking to revisit all potential funding sources for Perseverance #1, with a view to optimising the availability and cost of its funding. This includes continuing to pursue a farm-in, and farm-in discussions remain on foot with a number of partiesy

[bigsi2] 16/8/2020 15:24

I have an Avatar?Firstly - the oil spill is relevant to BPC as there is currently a moratorium on drilling in eastern GOM- Florida waters. additionally American senators are pressing Bahamas to cancel exploration - Bahamians have often raised the risk of a spill as a reason to avoid exploration and environmental groups are unanimously in opposition https://thenassauguardian.com/environmentalist-calls-bpc-drilling-plans-lunacy/I'm sure you'll agree prominent news of a spill in similarly prized waters is relevant to the likely future continuing opposition to BPC and may be a factor in the failure of BPC to secure partners.Secondly No I am not currently short, I have been previously. As for negative posts in an attempt to move market...to think that my posts on a BB will have any affect on the share price of a company with 3.5bn shares in issue that currently has a CLN converting millions daily would be rather ignorant.FYI I post these perspectives because they're are endless shareholders enumerating the so called ONLY positive facts and fundamentals RE BPC (deals with EXXON SHELL imminent etc etc) and ignoring the risks- I'm sure your of sufficient intelligence to appreciate the value of contrary, balanced views rather than just one sided perspectives when it comes to investing your hard earned cash.

[linton78] 16/8/2020 15:05

We are very lucky to have Global and Under the Radar post on this board.

Remember they know more than the late Alan Burns and the current board about the geology of the Bahamas and the oil industry in general.

We should all follow their advice and sell up tomorrow at this low share price.

The multi billion barrel drill in the Bahamas won’t happen according to these leading market experts - the board were lying in the RNS about booking in a sixth generation drill ship with Stena with a penalty clause if they don’t deliver.

The financing package is of course now final according to these financial gurus. The fact that Stena or a major could farm in should be totally ignored by investors or the CLN replaced by more suitable financing.

So there we have it.

Follow these experts... what could possibly go wrong?

[under the radar] 16/8/2020 14:04

No one in their right mind should buy this stock because it will just keep on getting sold into by the CLNs company .

All the sheep on LSE keep on saying why is the share price falling (lol) .

I feel sorry for the sheep who listened to Starchild (lse chief ramper) because they would have lost money immediately and yet he still carries on ramping day in - day out .

I think he is selling shares behind their backs whilst having a massive short position open . Just like what the CLN company is doing .

This will keep in falling and falling as they keep on converting and converting - it will be relentless Mark my words .

3p - 2.1p currently - into the 1s next week .

Not only that but no one In their right mind should buy until the financing has been done.

I’ve tried warning people on lse but the sheep don’t wanna hear it and admit that I’ve been right all along whilst Starchild has sucked them all in whilst calling it horribly wrong

Hey ho ...

STRONG SELL

[under the radar] 16/8/2020 14:02

CLNs = DEATH SPIRAL FINANCE

ALL HOLDERS AND ANYONE THINKING OF BUYING SHOULD WATCH THIS :-

[stewart4990] 16/8/2020 13:08

Afternoon, I assume your avatar is from Meerkat Manor enjoyed the series and have them all on dvd.Question are you short on BPC because whilst I value your comments I have never seen you post anything positive on them.A good example is the oil spill today its of no relevance why even mention it Covid yes economy yes.Anyway off to watch cricket, snooker and Man utd later.