Bahamas Petroleum Share Discussion Threads

[linton78] 13/1/2021 12:10

If Alan Burns believed there was oil in vast quantities in the Bahamas that's good enough for me.

Roll on the results!

[eggchaser] 13/1/2021 12:04

So why bother posting here then Prozac - no one outside your boyfriend actually like you or what you stand for - a three but failed day trader that tops up his gyro by bashing a company for his pieces of silver....I bet you and he, would not have the same bottle to meet investors and say to their face the things you and LittleBigMouthSi have...Toodlepip

[eggchaser] 13/1/2021 12:03

Then sod off to PNR then you low life prat... why are you even here apart from poor attempts to bash the company you pond life scum...Ps that's not a ramp it's a fact...

[specialistlegionsupercharged] 13/1/2021 11:39

2p a share after their 12p Christmas 🎄 spud party. Hahahahaha hahahhahahah Hahahhahahah Hahhahahah Hahahhahahah 😀😀😀😀8512;😀ԅ12;😀😀;🗑🗑🗑🗑
28465;🗑€465;🗑㈮5;👏👏😥

[specialistlegionsupercharged] 13/1/2021 11:39

My idiots have found WATER. HAHAHAHAHA HAHAHHAHAHAH HAHAHHAHAHAH 😀😀😀😀8512;👏Ԁ79;👏👏;👏👏👏👏
28079;👏€079;👏㈇9;👏

[pro_s2009] 13/1/2021 11:10

If you read the terms of the Call option............ the Call can be made up to and including the date of the P1 drill results (provided before or on 12th Feb) Thats my take of the wording.

Meaning that they can wait for drill results and then exercise the Call option on the day of the RNS I presume (provided the RNS comes on or before 12th Feb when the call expires). It does not say the date before........its says the DATE OF the RNS of the P1 results.......... thats my understanding of the below...........its does not say the Call has to be exercised BEFORE the results RNS, only to it must be the earlier date OF the results RNS or 12th Feb. Thats my view on how it reads.

Thats a nice risk free call option in my opinion, they can exercise it on the day of the results RNS if its good news (provided that results RNS is on or before the 12th Feb.


"BPC has today exercised the Put, such that BPC will issue 187,500,000 new ordinary shares of 0.002p each, at a price of 2.0 pence each, for immediate gross proceeds of approximately 3.75 million (US$5 million). This additional issuance represents approx. 3.5% of BPC's fully diluted share capital. The Investor now has until the earlier of (a) the date of BPC's RNS announcement of the result of the Perseverance #1 well results, and (b) 12 February 2021, to exercise the Call, failing which the Call lapses. "

[specialistlegionsupercharged] 13/1/2021 10:58

Should be 1p on confirmation of “Water” discovery in a few weeks

[specialistlegionsupercharged] 13/1/2021 10:56

Should be 1p on confirmation of “Water” discovery in a few weeks.

[specialistlegionsupercharged] 13/1/2021 10:51

Credit to the BOD and their recent transparency (if you choose to read the RNS in full) at this late stage, prior to any potential catastrophic losses for investors I imagine the BOD are rather keen to appear to have been upfront over any fundraising, gone are the references for the benefit of our resident simpletons to NDAs, Late stage negotiations, farm outs, drill for equity, RBL etc and it’s just PRUDENT flat out clawing in as much cash as practicably possible prior to TD.



Of course I’ve been warning this is EXACTLY what would happen for the last two years - but I’m a liar apparently ;)

[12bn] 13/1/2021 10:28

EggChaser12 Jan '21 - 21:38 - 49250 of 49263
0 0 0
MrH.... RottenEgg???

Bloody hell that’s charming!!//////// Yep and very fair imo,although I prefer BumChaserEgg. Only a fool believes that a PI bought £200k of shares here just because they posted they had! IMO,we will see several big trades appearing periodically as shares are dumped into the market and they will be worked SELLS. The share price movement today suggests that the MMs have another BIG chunk to place. The share price will rise after every big dump appears but that is merely the MMs adjusting their prices before they get the next 10m or so sell order.

[pro_s2009] 13/1/2021 10:19

I did a valuation for PANR (as posted below)....... I used 4$ in the ground value for the proven oil at Alkaid and 1.5$ in the ground value for any oil post discovery at the coming Talitha-A well spudding soon (and this onshore....it it were offshore I would use 1/5 of that..... so 0.3$ a barrel.

If we say 700 million barrels at 0.3 US$ offshore in the ground value post discovery each......we get around 210m US$ or 161m GBP.

161m GBP into 5 billion shares gives.....3.2p a share value on a discovery. Add on say 1p for CERP assets........so upside for BPC post discovery is around 4p to 5p a share......thats where the share price would settle back to after any initial spike to say 6p on good news in my opinion..........

Bit of a different story eh ???




Pro_S2009 3 Jan '21 - 20:05 - 4547 of 4864

Greater Alkaid
❖Confirmed Oil Discovery with 35+deg API oil
❖Contingent Resource 76.5 MMBO recoverable

76 million barrels x 4$/barrel valuation = 304m US$ or 222m GBP

Current market cap is 250m GBP.



So the whole of the Talitha project (Circa 1.2 billion barrels potential) and all the upside from Alkaid, and also the other leads.......are all in currently for 28m GBP.

PANR share price should be around 60p to 70p currently imo.

And as had been said, each of those 4 zones at Talitha, if proven, are worth around 60p each to the share price in the event of a discovery only (on the basis of 300m barrels each zone at 1.5$/barrel valuation post discovery)

Its going to to be fun ahead.

If, just for fun for the top upside, they all come in you could value :

Alkaid 76m barrels @ 4$/barrel = 40p a share (excluding all upside)
Talitha SMD 300m barrels @ 1.5S/barrel post discovery = 60p a share (exc.upside)
Talitha Kuparuk 300m barrels @ 1.5S/barrel post discovery = 60p a share (exc.upside)
Talitha Slope 300m barrels @ 1.5S/barrel post discovery = 60p a share (exc.upside)
Talitha Basin 300m barrels @ 1.5S/barrel post discovery = 60p a share (exc.upside)

So......

If all four zones were to come in, thats 280p a share using well discounted values and with Theta West and Leonis and any upside all in for free.

Michael Spencer is no fool - and he has a large holding in PANR. The upside is staggering, the story is compelling, the risk is there but the ride will be fun.

[armatrading] 13/1/2021 09:53

Page of Cups' 36p valuation for 700mmboe is in line with the Investec report of 08 Oct 2020 (pre-recent dilution), which valued 770mmboe at 39p

[carpadium] 13/1/2021 09:41

Top post from PageofCups, LSE post last Sunday...

RE: How much is a discovery now worth?

'Any valuation will be based on the well prognosis confirming the high resolution 3D and validating the charge of the Fold B. If the structure has multiple horizons and is filled to spill then volumetrics are assigned a standard industry in the ground value determined by the quality and type of oil, cost of extraction and near term market sales and infrastructure.
Typical in the ground values range from $3-$9, dependent on access to market and cost of extraction and oil type. For The Bahamas, robust economics for a relatively small field of 200m barrels has a breakeven cost of $30-35 per barrel. A 700MMb find at $40 per barrel has a NPV10 valuation of $2.5B. This equates to a value of $3.5 per barrel in the ground. With 5B shares in issue this is 50 cents a share, or 36p per share.'

Lower end of a huge find quoted and at $40pb - extrapolate to your heart's content!

[eggchaser] 13/1/2021 07:42

So why bother posting here then Prozac - no one outside your boyfriend actually like you or what you stand for - a three but failed day trader that tops up his gyro by bashing a company for his pieces of silver....

I bet you and he, would not have the same bottle to meet investors and say to their face the things you and LittleBigMouthSi have...

Toodlepip x

[pro_s2009] 13/1/2021 06:13

Nah........... PANR are drilling an even bigger well than BPC, spud of the PANR well is in a few days.

Difference is, PANR is onshore and right next to production pipeline - meaning minimal cost to develop. 1 barrel onshore is worth the same value as 5 barrels offshore.

PANR drilling for 1.2 billion barrels onshore.......equals 6 billion offshore equivalent......eg its around 8 times bigger than the BPC P-1 well.

And the Talitha-A well of PANR is akin to appraisal, as the oil is proven in an old well drilled nearby but in the wrong place years ago.

So no.......BPC is nowhere near the biggest well on AIM in 2021.........

[whoppy] 12/1/2021 23:27

Yep, they could be big aswell. Oil price on the up $53.25
Oil price will start increasing values and appetite. End of 2021 $65 oil revenues from T$T and Suriname, Saffron 2 and other exploration success, farmout or cash sale of Fold B, BPC £1B Mcap. 20p

[eggchaser] 12/1/2021 23:18

I don't know Whoppy - Suriname might surprise... or Uruguay....

[whoppy] 12/1/2021 23:14

This could be the last AIM oiler to hit the big time. Oil major territory. Guyana mark II, fingers crossed.

[eggchaser] 12/1/2021 23:08

I remember GKP and the infamous 9p placing... everyone went nuts then came news of the discovery... it was an oil mans dream!!!

[whoppy] 12/1/2021 23:01

Lol, nice. If there's another 7am RNS like this morning we will all be needing a JD.

[linton78] 12/1/2021 22:55

I’m locked and loaded...

[eggchaser] 12/1/2021 22:50

Yep - just on my second JD & C.....