Bahamas Petroleum Share Discussion Threads

[arrynillson] 02/9/2020 10:47

Dyna - I'm licking my lips at the prospect!

[johnmp] 02/9/2020 07:15

They appear to be changed?

[arrynillson] 01/9/2020 22:53

12bn - I must admit to having missed you lately but I thought you'd be able to come up with something more interesting than a couple of old women gossiping about Koot - it's not like he lost more than 90% in months like you did on MRS and TOOP 12bn!

[georgeo1] 01/9/2020 21:49

?HOMEDRILLING & COMPLETIONOffshore Bahamas well rescheduled for coming winterBahamas Petroleum Co. expects to drill the Perseverance #1 well offshore the Bahamas between mid-December and early February next year.Aug 13th, 2020?(Courtesy Bahamas Petroleum Co.)Offshore staffNASSAU, Bahamas – Bahamas Petroleum Co. (BPC) expects to drill the Perseverance #1 well offshore the Bahamas between mid-December and early February next year.The well had been due to spud in the first half of 2020, but the sudden impact of COVID-19 led the company to declare force majeure, causing preparations to be suspended.BPC said it was holding constructive talks with the Bahamian government on the full extent of the force majeure, but the interim extension it has secured to mid-April should be sufficient for the planned drilling campaign.The company has also received proposals for well control insurance policies for the upcoming well, which it hopes to firm up on within the next eight weeks.BPC's drilling team and rig provider Stena Drilling are working on bridging documentation to manage the interface between the two companies' management systems. In addition, BPC stressed the need to assure continuous operations and updating of the logistics plan for uninterrupted essential supplies and equipment to the drillship

[georgeo1] 01/9/2020 21:47

https://www.offshore-mag.com/drilling-completion/article/14181612/offshore-bahamas-exploration-well-rescheduled-for-coming-winter

[linton78] 01/9/2020 20:52

Far too polite Egg. The rope and trap door surely awaits for all of the above? :-)

[dynamohum] 01/9/2020 16:58

The depths of depravity are plumbed again , . . .

God I love this thread . . .

[linton78] 01/9/2020 16:53

Egg - Lol.

[12bn] 01/9/2020 16:02

Nah,dear at half the price,as there will be plenty more soon imo :).

[whoppy] 01/9/2020 10:46

Roll up! Roll up! for some cheap BPC shares while stocks last!!
Cheap at twice the price.

[12bn] 01/9/2020 08:57

Interesting discussion on the other thread.////////chutes0131 Aug '20 - 17:44 - 42565 of 42567
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Rossannan

He headed up taqa bratani for ADNOC, Abu Dhabi oil Co.
they bought mature assets from shell/esso for around 500 Mio, and oil price was initially high, they did well for a few years then it turned sour.
Not much value was added, it was a play on oil price, and a bizarre play on north sea oil from the UAE.
Several subsea tie-backs failed to deliver, and they are left with massive de-comm costs over the next few years, shell did well of course to exit.
Koot ultimately failed, as he has one with CERP and sold the shareholders into a corner with BPC.
rossannan31 Aug '20 - 18:54 - 42566 of 42567
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chutes01

That certainly seems consistent with the trajectory that you see in the Taqa Bratani accounts.
chutes0131 Aug '20 - 19:24 - 42567 of 42567
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a guy called Pete Jones was brought in for a couple years to plug the gaps, day raters on £700 had their desks cleared, staff fired.
Huge de-comm lies ahead, with liabilities for many years to come.
The Cladhan field was Koot's folly, and his inability to negotiate a deal to bring Dana's Western Isles through existing infrastructure. do some research on it
He failed there, and he's failed at CERP.

[pro_s2009] 01/9/2020 07:55

Yes, but PRD are playing smart, they have made an offer, CERP turned it down as they had to owing to the merger.

PRD know BPC need cash........so will BPC accept the lowball offer ? We will know soon, if PRD make another offer.

[pro_s2009] 31/8/2020 22:30

This is why selling off some of the CERP assets, if they can, will generate real cash, will reduce the CLN requirement and also get the share price up and over 2p, which is an essential condition for a lot of that CLN funding.

Funding remains a critical issue for BPC, and that is going to get more and more critical as the months tick by, its September now.......and soon......the ship has to sail, which means money needed for insurance and down payments etc......or, delay yet again.

[bigsi2] 31/8/2020 19:27

Good point :)Perhaps they refer to the conditions placed upon the lender of which there are essentially none....-- Conversion: The holder of Notes may at any time prior to maturity elect to convert the face value of the Notes into fully paid ordinary shares in the Company-- Conversion Price: The lower of (i) a 25% premium to the price of the Company's ordinary shares on the date of draw-down, or (ii) the lowest closing bid price of the Company's shares on the five days prior to the date of conversion