Bahamas Petroleum Share Discussion Threads

[jcgswims] 11/11/2020 10:47

Thanks Offerman and good to see you posting again. I hope you and your family are keeping well.

[martyn9] 11/11/2020 10:46

Glad to see uk ministers going forward with sweeping powers to the industrial intervention policy in decades,basically they can halt any acquisitions and takeovers by CHINESE and other foreign companies.
And can retrospect any deal going back 5yrs, about time we fought back.

[offerman] 11/11/2020 10:42

Snap , sorry egg for echoing some of your post as I was composing mine when you had posted and I didn't see your comment until after I posted mine.

[eggchaser] 11/11/2020 10:37

Agreed - would be good to get some posters on LSE to join the fray here - at least this chat medium does not keep breaking down like LSE does!!Linters you need to post more here too and leave that nutters thread as our sport!?

[jcgswims] 11/11/2020 10:30

ADVFN are awful when it comes to monitoring posts and what it allows to be posted. They do remove posts if you email them but it takes a few tries. I'd rather no posts on here than pages of back and forth arguing, hence my stipulation

"For the sake of the BB, any responses to "GlobalSpecialist" and "Specialist is the Living God" will be moderated.
Use the filter and ignore."

So there's no need to refer to it at all if it's on filter, is there.

[thatsmart1] 11/11/2020 10:16

A lot more going on at the LSE thread, not a post here yet today apart from the plonker on filter. It goes to show ADVFN is losing out to better managed boards.

[martyn9] 11/11/2020 09:45

Can we wind trading up today as up 2.5% :)

[linton78] 11/11/2020 09:20

Middle of the month... hopefully sometime this week.

[eggchaser] 11/11/2020 09:14

Just need this CPR that was promised - this week wasn't it!?

[linton78] 11/11/2020 09:12

Morning All... only one month now before the IceMax pulls up in Bahamian waters right on top of fold B.

Beautiful.

[specialist is the living god] 11/11/2020 08:24

Idiots in the dark - this is a superb rally into the spud 👏👏👏👏8079;

[specialist is the living god] 11/11/2020 08:19

How can these losers lose money everyday. Hahahahaha Hahahhahahah They must be the idiots in the dark 👏👏👏👏8079;

[specialist is the living god] 11/11/2020 08:03

Idiots. Get ready to lose more xxxx. Sell sell sell

[linton78] 10/11/2020 21:49

2.35p.... comedy gold.

[specialist is the living god] 10/11/2020 21:44

I think there has never been bigger losers than you muppets here. Hahahahaha Hahahhahahah. Sad to see you lose everything to your master - The Messiah of Knowledge.

[specialist is the living god] 10/11/2020 21:44

I think there has never been bigger losers than you muppets here. Hahahahaha Hahahhahahah. Sad to see you lose everything to your master - The Messiah of Knowledge.

[eggchaser] 10/11/2020 20:47

My pleasure - there is another poster on there that knows his onions - no ramping - just plain measured common sense... I'll hunt him down but please again can someone who posts on LSE just check SC is ok with it?

[armatrading] 10/11/2020 18:16

I could certainly live with a daily share price increase of 2.5%

[thatsmart1] 10/11/2020 18:03

Thanks for adding that Starchild post, puts things into perspective. The quiet before the storm.

[eggchaser] 10/11/2020 17:04

Last post from me tonight apart from some sport on the other thread....- thanks to Starchild of LSE fame.
Can someone check he is ok with the C&P here and if not pass on my apologies and I will delete it.

Before you read on - is it me or is this poised for something to happen as the share price has reached some kind of junction in our path?? Interested to hear from any Chartists that may follow such things

To re-enforce Petro$'s sentiments and opinion which I share......

I encourage everyone to read BPC’s 29 October Investec Bank Sales desk presentation. You may have missed it (I did) because it was around the time of the Malcy interview. See hxxps://d1ssu070pg2v9i.cloudfront.net/pex/bahamas/2020/11/02093518/Investec-Presentation-29.10.20.pdf

It appears to have been geared to the internal bank sales team that deals with HNWIs and institutional investors. Being generic in nature it is now in the public domain and contains some useful information I haven’t seen before in one place.

[slide 4] Some of the BoD’s legacy successes in $$$$.

[slide 5...]

Assuming Percy-1 is commercial and a major hasn’t bought us out by then, the Bahamas’ acreage 2025 goal is stated at ‘more than’ 100,000 bopd.

A quick calculation using $50 PoO and $10 per barrel NET profit (assume $40 cost of extraction using two leased manned FPSO ships, inc Gov royalties, no corporation tax) for 350 days per year, this equals 350 x 100,000 x $10 = $350m/£260m per year (@1.35 exchange rate). For the sake of this simple exercise let’s assume the rest of the ex-CERP business pays all admin expenses and operating costs with no capex. Also for simplicity let’s also assume a dividend is declared for £260m with 4 billion shares. That’s 6.5p per share, per year!!! Market cap based on P/E of 17 (energy companies' average) could be 17 x £260m = £4.4b and hence, >£1 per share. And Uruguay exploration would be paid out of BPC’s tea and biscuits for-the-office petty cash account.

Saffron 2 goal 2021: 2000/bopd

Suriname goal 2021: 500/bopd

[slide 9] Saffron 2 ongoing and ‘on-time’; budget $2m

[slide 11] I believe this illustrates the size of the Percy-1 B structure compared to North Sea energy producing acreage. (as a side point, Germany's acreage appears to have had a bit of bad luck)

[Slide 12] confirms 45-60 day drill for Percy-1

[Slide 13] Tiny BPC’s massive Percy-1 spud is in the top 4 high impact global exploration projects of 2019/20.

[slide 19] spells out c$20m capex required excluding Bahamas. …. to generate $15m per year free cashflow. My assumption (assuming Percy-1 is a duster, no farm-in and no Stena JV) is BPC MAY need $10m Capex 1Q 2021. This will be funded in the best way for shareholders to avoid dilution.

All IMHO. DYOR. Great day yesterday for the world re Covid-19 vaccine. Have a great day today.

Starchild