Bahamas Petroleum Share Discussion Threads

[specialist is the living god] 05/10/2020 10:11

Praise be to Simon

Praise be to Bristol

Praise be to BigSi

[specialist is the living god] 05/10/2020 10:11

Chuckle brothers keep on getting mugged. These losers and my favourite idiots here n the dark. 🗑🗑🗑🗑8465;🗑Ԁ79;👏👏;👏👏👏👏
28079;👏€079;👏


Hahahahaha hahahahaha

[specialist is the living god] 05/10/2020 10:10

Bin 🗑boy. You donot know anything about stocks. You probable thinks Rolls Royce is a kids toy. Idiot in the dark. 😀😀😀🗑8465;🗑

[specialist is the living god] 05/10/2020 10:08

BPC does not have the funding for a drill. Bankruptcy beckons for the idiots in the dark.

The chuckle brothers never had a chance here. These muppets keep on getting mugged by us and still come back for more. Hahahahaha hahahahaha.

I love my idiots in the dark 👏👏👏😀8465;🗑Ԅ65;🗑🗑;🗑

[specialist is the living god] 05/10/2020 10:07

Prasie be to BigSi.

The chuckle brothers have no idea on funding. That is the reason they always lose and we always make money here.

Bin 🗑 boy 👦 one of the co- sponsors of idiots in the dark knows nothing about markers. He just buys and prays. Idiot in the dark - that is why you lose to us. Hahahahaha hahahahaha

[armatrading] 05/10/2020 09:24

hxxps://www.hl.co.uk/news/2020/10/5/oil-prices-rebound-2-on-trumps-health-norway-strike-escalation

Oil prices rose more than 2% on Monday, lifted by comments from doctors for U.S. President Donald Trump suggesting he could be discharged from hospital as soon as Monday, just a few days after his positive coronavirus test sparked widespread alarm.

[bigsi2] 05/10/2020 09:08

My perspectives will be unchanged- position or not

[whoppy] 05/10/2020 08:49

Bought in then I see.

[bigsi2] 05/10/2020 08:35

https://www.shareprophets.com/views/51540/now-is-the-time-to-take-a-speculative-position-in-bahamas-petroleum-given-the-upside-potential-on-drilling-successShareProphets historically Bearish on BPC with issues over funding -Post fundraise Gary N tipping as speculative BUY

[lithological heterogeneities] 05/10/2020 07:41

RNS
Update on Goudron and Inniss-Trinity Contract



Whoppy
Well done on both your predictions.
2 out of 2.

[lithological heterogeneities] 05/10/2020 07:39

Or farm-in before drill

[lithological heterogeneities] 05/10/2020 07:34

RNS
Update on Goudron and Inniss-Trinity Contract



Whoppy
Well done on both your predictions.
2 out of 2.

[jcgswims] 05/10/2020 07:25

Update from Predator this morning

Trinidad

The Exclusivity Period under the terms of the Heads of Agreement for C02 Gas Sales entered into by Predator with Massy Gas Products ("Massy"), has been extended to 31 March 2022.

Approvals to return AT-5X to production; to commission the new CO2 EOR production facilities, provided by the Company; and to continuously inject C02 at AT13 are progressing satisfactorily and a further update will be given in due course.

In accordance with the Well Participation Agreement ("WPA") with FRAM Exploration Trinidad Ltd. ("FRAM") (and as subsequently varied by mutual agreement), the Company advises that it is not entering into a Sale and Purchase Agreement to acquire FRAM by the previously agreed deadline of 30 September 2020. Only this specific aspect of the WPA has lapsed, all other conditions of the WPA remaining in full force and effect.

After careful consideration, the Company decided that acquiring ownership of an oil field that continues to produce by conventional methods does not fit with its business strategy, which is focussed on addressing climate change concerns through sequestrating CO2 and exploring for and developing gas. Furthermore, in line with the Company's prudent management of resources through the COVID-19 crisis, it was deemed inappropriate to enter into a corporate transaction that would involve significant transaction costs; potential delays in regulatory approvals; taking on liabilities and administrative burdens associated with an Incremental Production Service Contract; and potentially significant shareholder dilution.

Extension of exclusivity over Trinidad's entire surplus liquid CO2 supply and the successful execution of Trinidad and Tobago's first large scale CO2 EOR project for many years are compatible with the Company's strategy of developing and offering a flexible CO2 EOR services business in Trinidad to other operators. This is achievable without the onerous burden of licence liabilities.

Paul Griffiths, Chief Executive of Predator, commented:
"Acquiring an asset such as FRAM would have been non-sensical in this context. It would have potentially diverted valuable resources away from Morocco, which remains the greatest potential risk/reward prize in the Company's portfolio and is an absolute priority for the Company to drill as early as COVID-19 restrictions allow."

[pro_s2009] 05/10/2020 07:14

I am back into BPC. Purchased a small wedge last week, looking for 4p at some point before drill results in order to take a solid near 100% profit.

Considering the bottom should be around 2.5p now, seemed sensible to snag a wedge at just over 2p.

If they manage some CLN draw downs carefully........they should be able to get the share price up to 4p which would be a better level for the next placing before drill results.

[bigsi2] 05/10/2020 06:56

Shore capital (BPCs own broker) have subsequently been shown to be trading daily in relative high volume off the spread - volatility, financially is in their interest. try and find an impartial valuation

[bigsi2] 05/10/2020 06:53

That ridiculous valuation that failed make any account for shares due to be issued by the company was from 2/20 the shares in issue have since then increased by around 50% ....currently so even if you accept the target price as credible you can now adjust it to 24p with 4bn shares in issue and Bizzel still to come

[lithological heterogeneities] 05/10/2020 04:25

Maddie

Broker target 36p on oil strike but I will be more than happy with 18p.

""Bahamas Petroleum Company (LON:BPC) is in the final stages of completing the funding necessary to drill its inaugural exploration well (Perseverance-01) offshore Bahamas, which it expects to spud in the second quarter of 2020. The current valuation is inline with its peers, but with an estimated 1,030mln barrels of Prospective Resources (UBEST) targeted by its first well, a successful discovery will see the potential to see fair value rise to $1,014mm (36p/share), over 10x the current share price."

[maddie275] 05/10/2020 00:04

I was invested here for 10 years until I finally had enough of paying for salaries with no tangible progress. I could never have believed at the time that selling my entire holding at 3.7p might have ultimately led to an opportunity to buy the lot back and keeping the difference..! It wouldn’t have been a ‘short’, per se... but the result would be the same..!

However, I’m not going to.

The fact that the begging bowl is out again and an acquisition has further diluted what I bought in to all that time ago has left me quite cynical.

Once upon a time an 87p party was spoken of.
With all that’s gone on, 8.7p looks highly optimistic, even if absolutely every star and duck align perfectly.
And 4 times current share price does not represent, for me, a good enough multiple in comparison to Pharmas, Online Gambling and CERTAIN recovery plays.

I’ll keep watching...
And I genuinely hope for the best here for those who have ‘stuck it out’. You DESERVE some good fortune.

Just as an aside... did anyone else win the Virtual Grand National in April by backing ‘Potter’s Corner’ at 18-1..??
How this all pans out will determine how I tell THAT little story in years to come..!!

So... good luck, health, fortune and times to all...
Out.

[linton78] 03/10/2020 21:12

Evening Martyn - Lol

Agreed - have a good weekend.

[martyn9] 03/10/2020 21:00

Good evening Linton, he should re- name himself as the anti Christ !!He is a complete and utter twerp.

[linton78] 03/10/2020 20:47

Look at this idiot ...

I would encourage everyone to read the ODX thread to see what a “ special needs” we are dealing with.

I’ve got this idiot on filter but apparently he’s preaching to us all... Lol.

[specialist is the living god] 03/10/2020 16:02

Not a great week for shareholder but a dilution was necessary. However funding is still short although if they meet the covenants the loan note goes a long way to meeting P1 costs. As we go into the drill the time to buy is when clarity is given to complete the funding requirement. That should be sometime in November.