Bahamas Petroleum Share Discussion Threads

[bigsi2] 02/10/2020 09:42

I did not claim that BPC would NEVER secure a rig, NEVER secure insurance, NEVER drill - I claimed that in 3/20 they were not in a position to secure those contracts due to lack of access to appropriate funding - so please do not misrepresent what I have posted previously. I have never claimed to have been correct 100% of time, no one ever Is - but my perspectives were based on facts/fundamentals not dreams and yes especially RE funding have been shown to have been for the most part accurate. unfortunately you took them personally wheras they were directed at the activities of a company and it's likely share price movements let's not go into the baseless claims that you have made that have proved inaccurate - we'd be here all day.You clearly are unable to have a civil conversation despite the offer and I will not demean myself and/or waste time continuing these pathetic squabbles so your back on filter

[soggy] 02/10/2020 09:39

I'm slightly surprised that PRD haven't RNSed it themselves today. As you say JCG it will be interesting to hear their take on it...

[whoppy] 02/10/2020 09:22

Calm down dear. I haven't seen much from you other than the incessant nay saying of BPC. We all know the risks and unknowns and how it can affect the share price. What you have to realise is, the unknowns are just as much on the upside as they are on the downside. You have always stated that BPC won't get a rig, guess what they have a rig, you have always stated they won't get insurance, guess what they have insurance, you have always stated they won't drill, guess what they are going to drill and with the best drill ship in the World. You have always claimed you are right, guess what you are not. Lol,
Any more predictions Bigsigh?? Love to hear them..Lol. Tell you what. Go and start a shorting thread of your own and see how many people go and join you..I predict it will be you and Hummer. Lol

[bigsi2] 02/10/2020 08:59

Give it a rest WhoppyThe fact that I have repeatedly posted perspectives that have invariably turned out correct goes to show I am genuine - If you hadn't taken those fact based post personally then we would get along just fine ....Just ease up on the SHELL EXXON BS

[bigsi2] 02/10/2020 08:56

You know as much as I do fellaThe financial situation as you say is much clearer as of fundraise - but still $15m or so needed and CLN not guaranteed as per RNS warning the CLN will also limit future rises if taken - as such I trade mindful of future dilution- and COVID situation and general economic outlook- which does affect BPC - remember 3/20?il buy on weakness and sell on strength up to 3p -Honestly I don't see it going far beyond that -others do

[stewart4990] 02/10/2020 08:49

BigSi2,Fully agree I ticked you up. You clearly understand the issues be good if we could hear some posatives especially on funding unless there are none of course.My view is even with the CLN that is at 2.5p so that should be the bottom therefore we should move up from here and the progress up to the drill.I will sell a proportion pre drill and leave some for the result.

[whoppy] 02/10/2020 08:44

So Bigsigh, are you a holder here now. Bought in yesterday? Or just here to massage your ego. Lol

[bigsi2] 02/10/2020 08:37

Just for a change why don't you all evenhandedly discuss the topic at hand ... like grown ups.Then we would avoid having to read all of this piffle

[bigsi2] 02/10/2020 08:35

Your entitled to your opinion -Inaccurate as it is.If anyone has convinced you that I post under multiple accounts then you have either been fooled or lied to yourself.

[12bn] 02/10/2020 08:34

Time for a song as the share price goes red......'There may be trouble ahead......' :)

[12bn] 02/10/2020 08:31

'.....this aspect of the WPA has lapsed' bad news again,it looks like Cerp had lots of problems brewing. The massive over-hang here will drive the share price much lower imo.

[12bn] 02/10/2020 08:29

Bahamas Petroleum Company PLC

02 October 2020

2 October 2020

Bahamas Petroleum Company plc

("BPC" or the "Company")

Trinidad & Tobago: Update on Goudron and Inniss-Trinity Contract Arrangements

BPC, the Caribbean and Atlantic margin focused oil and gas company, with exploration, production, appraisal and development assets across the region, advises of the current status of two contract arrangements in Trinidad & Tobago, as follows:

-- Goudron - Extension of IPSC pending new EPSC
T he term of the current Goudron Incremental Production Service Contract ("IPSC") with Heritage Petroleum Company Limited ("Heritage") has been extended from 30 September 2020 until 31 December 2020. This extension of term is an interim measure to allow time for Heritage to obtain requisite consents from the Ministry of Energy and Energy Industries ("Ministry") for the implementation of a new 10-year Enhanced Production Sharing Contract ("EPSC") agreement.

The EPSC is already in an agreed form and has been submitted to the Ministry by Heritage, but the process for securing the final ministerial approvals and consent to signature has been delayed as a result of disruptions occasioned by the Covid-19 pandemic and the conduct of a national election in Trinidad and Tobago. BPC management has been assured, during initial interactions with both Heritage and the Ministry post completion of the merger with Columbus Energy Resources Plc, that the signing of the EPSC agreement will occur in the near future, at which time the Company will advise the market accordingly. BPC has a 100% interest in the Goudron field via its current IPSC with Heritage, and this interest will be reflected in the EPSC.

-- Inniss-Trinity - Expiry of right to purchase
In relation to BPC's Inniss-Trinity asset, in accordance with the Well Participation Agreement ("WPA") entered into in November 2017 with Predator Oil & Gas Holding Limited ("Predator") (and as subsequently varied by mutual agreement), by 30 September 2020 Predator was required to enter into a share purchase agreement ("SPA") under which Predator would acquire the corporate entity that holds 100% of the Inniss-Trinity asset, for a consideration of US$4.25 million. The Company advises that BPC and Predator have not entered into such an SPA by the agreed deadline, and accordingly, this aspect of the WPA has lapsed.

The Inniss-Trinity field currently produces approximately 150 bopd, before any incremental production arising from increased operational efficiency and / or the application of enhanced oil recovery techniques. BPC retains a 100% interest in the Inniss-Trinity field and will continue to review the application of a range of enhanced oil recovery techniques, and seek to undertake further reservoir enhancement work based on technical merit and as commercially justified.

[whoppy] 02/10/2020 08:23

The trouble is we have conservative non risk takers commenting on high risk lose all your money share that on success will make millions of £££'s. If this were a bulletin board for NS&I Premium bonds for non risk takers who hope their numbers are going to come up, then it would be like me coming on here and saying hey, you're deluded, you're never going to win a million..Lol
Of course with BPC the chances are much better, and we have a mismatch of commentators who don't understand the logic of why some chose to invest in BPC, and are prepared to ride out the ups and downs to get to that million £ pay day, and the risk averse think we are deluded..Hahaha They just don't get it and never will. Bit like Remoaners. Lol

[jcgswims] 02/10/2020 08:17

Thanks Kazz, much appreciated. It's getting a little easier now as most people know the score. I only need to post now and again just to remind some.

I'm looking forward to what the Goudron EPSC agreement entails. As it's been going on for so long I would hope it benefits BPC a lot more than the existing IPSC.

I was expecting the usual extension to the Inniss option but not a great surprise to see it lapse. It will be interesting to see what plans BPC have for Inniss in the future. We will see what PRD say about this when they release their news.

[jackson83] 02/10/2020 08:16

WHEN THE SPUD IS DELAYED top up at 1p.

[jackson83] 02/10/2020 08:16

5p within a month ... easy money .. buy low sell high ... STRONG BUY

[eggchaser] 02/10/2020 08:15

TA I like the cut of your jib and refreshing honest and respectful.The issue is there are short term investors or day traders - much the same and long term investors. Issue are both have different timeframes and in doing so have different views of the company and there raises the other issue the company and it's news. We have fact and fiction and clearly some bashers with no compression of truth which is disgraceful.The long term facts are what the old CERP assets brought to the party meaning BPC are no longer a one trick pony and certainly not a binary play nor are they drilling into water only.

[whoppy] 02/10/2020 08:14

Let's see if we can crack 100m volume today on the back of yesterday's 370m. ;)

[eggchaser] 02/10/2020 08:08

You are a liar

[jackson83] 02/10/2020 08:07

5p within a month ... easy money .. buy low sell high ... STRONG BUY

[whoppy] 02/10/2020 08:06

Get the hoover out. Buy Buy Buy. Nice to see Potter protecting the Trinity asset and keeping 100%. The man with a plan.

[bigsi2] 02/10/2020 07:46

Sadly he is still under the misapprehension that I post with multiple accounts- I'm not even sure who he's angry at these days lol- so I've given up reading his vitriolic posts - spends 99% time on filter.

[specialist is the living god] 02/10/2020 07:41

Offer of peace and a quick discussion on going forward is open till 12pm as I am busy till then. If not accepted after 12pm today we will revert back to form.

[jone06] 02/10/2020 07:37

Clearly written by a different team , quite refreshing to read

[soggy] 02/10/2020 07:01

RNS out re Goudron & Inniss-Trinity

Bahamas Petroleum Company plc

("BPC" or the "Company")

Trinidad & Tobago: Update on Goudron and Inniss-Trinity Contract Arrangements

BPC, the Caribbean and Atlantic margin focused oil and gas company, with exploration, production, appraisal and development assets across the region, advises of the current status of two contract arrangements in Trinidad & Tobago, as follows:

-- Goudron - Extension of IPSC pending new EPSC
T he term of the current Goudron Incremental Production Service Contract ("IPSC") with Heritage Petroleum Company Limited ("Heritage") has been extended from 30 September 2020 until 31 December 2020. This extension of term is an interim measure to allow time for Heritage to obtain requisite consents from the Ministry of Energy and Energy Industries ("Ministry") for the implementation of a new 10-year Enhanced Production Sharing Contract ("EPSC") agreement.

The EPSC is already in an agreed form and has been submitted to the Ministry by Heritage, but the process for securing the final ministerial approvals and consent to signature has been delayed as a result of disruptions occasioned by the Covid-19 pandemic and the conduct of a national election in Trinidad and Tobago. BPC management has been assured, during initial interactions with both Heritage and the Ministry post completion of the merger with Columbus Energy Resources Plc, that the signing of the EPSC agreement will occur in the near future, at which time the Company will advise the market accordingly. BPC has a 100% interest in the Goudron field via its current IPSC with Heritage, and this interest will be reflected in the EPSC.

-- Inniss-Trinity - Expiry of right to purchase
In relation to BPC's Inniss-Trinity asset, in accordance with the Well Participation Agreement ("WPA") entered into in November 2017 with Predator Oil & Gas Holding Limited ("Predator") (and as subsequently varied by mutual agreement), by 30 September 2020 Predator was required to enter into a share purchase agreement ("SPA") under which Predator would acquire the corporate entity that holds 100% of the Inniss-Trinity asset, for a consideration of US$4.25 million. The Company advises that BPC and Predator have not entered into such an SPA by the agreed deadline, and accordingly, this aspect of the WPA has lapsed.

The Inniss-Trinity field currently produces approximately 150 bopd, before any incremental production arising from increased operational efficiency and / or the application of enhanced oil recovery techniques. BPC retains a 100% interest in the Inniss-Trinity field and will continue to review the application of a range of enhanced oil recovery techniques, and seek to undertake further reservoir enhancement work based on technical merit and as commercially justified.