Bahamas Petroleum Share Discussion Threads

[linton78] 14/1/2021 21:07

What do you think the Bpc board are commenting about you now?

Do you think they respect your opinion?

[linton78] 14/1/2021 21:04

Frankenstein

[bigsi2] 14/1/2021 19:08

It transpires even $1m was an unrealistic goal :(

[bigsi2] 14/1/2021 19:08

Of course those familiar with BPC knew it never would, as if no one would lend CERP funds backed by assets (they resorted to death spiral loans) why would anyone lend BPC funds based on those same assets.Simple

[linton78] 14/1/2021 18:53

BigSi - people see through you.... you are irrelevant with a bit of OCD. Bore off you old woman....

Go and play with your alter ego in your Bristol postcode that we have.

Get in quick big sissy before the strike is announced.

[jp2011] 14/1/2021 18:41

Debt is not an option, nobody is going to lend a billion dollars to basically a start up.

[bigsi2] 14/1/2021 18:19

A general rule of thumb invariably accurate with cash poor O&G exploration minnows is you drill with (dilutive) equity and develop with (non dilutive) debt.As such you tend to be cautious and only invest once "fully funded" BPC are still raising funds no??

[bigsi2] 14/1/2021 18:14

Suggestions of imminent non dilutive farm in and RBL have been made BEFORE potential discovery and possible appraisals/production to fund EXPLORATION. FACT!

[eggchaser] 14/1/2021 17:43

Any news yet Carp on the hearing?

[eggchaser] 14/1/2021 17:43

He's angry because he lost his shirt here years ago and has never recovered since and all he has now is spending hours upon hours on end posting trash and trolling for 50p a post to earn a crust and top up his gyro! My my, how the not so mighty have fallen - to even lower levels...!Grade A tit...

[the millipede] 14/1/2021 17:28

Yes indeed. I would expect more dilution, either through shares, or a farm in, or some combination in the event of success. How else could they fund appraisal and development?

Meanwhile if the Bahamas fails, we will all be thanking our lucky stars for more fund raisings at 2p.

You seem angry BigSi. Hope everything is ok.

[bigsi2] 14/1/2021 16:56

Read the RNS if you can be botheredJoint venture - Reserved backed .... both non dilutive (to existing holders) options were referred to frequently up until most recent RNS where the BOD seem keen to be seen to be "transparent" If you considered the ubiquitous dilutive fundraising efforts up to TD to be "inevitable" surely you would have waited until now - ie the most diluted undervalued point before purchasing your shares...Did you?well done if so.

[the millipede] 14/1/2021 16:27

Thanks BigSi. You are kind.

Can you explain any other means by which BPC might have raised money to finance their drilling activities? And the pros/cons in terms of likely shareholder value?

I await your reply with some interest.

[bigsi2] 14/1/2021 16:24

Well that's odd -Financing equals dilution -Dilution results in your potential profits being DRASTICALLY lower.ergo profoundly affecting the Risk/reward ratioTo say you don't care implies ignorance

[the millipede] 14/1/2021 16:21

"I don't care about the financing... if they hit significant oil and we own 100% of it that's all that matters."

This is it. In a nutshell. Everything else is worthless noise right now.

[morningswimmer] 14/1/2021 16:21

So Lombard Odier have decided that the oil industry is "WILD" not "CLIC". When conversion of hydrocarbons to hydrogen with storage of excess CO2 is perfected by companies such as Proton Technologies in Canada then suddenly oil fields will be seen as "CLIC" again - (circular, lean, inclusive and clean). Lets hope these new technologies are scaled up quickly to show Lombard Odier the error of its rash decion making. In the mean time I suspect they have subdued the BPC share price before a potential mega oil find. We will find out soon.

If these virtue signalling investment funds have their way they will encourage China to increase fossil fuel energy production and grow an enormous economy based on cheap energy while the West is forced to subsidise expensive green energy sources which will simply result in the transfer of production of goods to the cheaper energy zone of China. Then all the goods produced will have to be transported half way around the globe again which is hardly energy efficient. I hope they have thought this through and aren't just pandering to a narrow sighted Swedish teenager pressure group.

[linton78] 14/1/2021 15:57

.... the source is not a conch fisherman I am told.

[linton78] 14/1/2021 15:55

Laallee - from LSE

Jmann is a Bahamian business man who occasionally graces the boards.

Like some of us he has been around for a decade waiting for the drill. He is invested and his business is marine engineering.

If the Jmann emails me and says "there's oil" and he named his source who has been checked out then it is better than hearing him saying the opposite.

Time will tell, meanwhile the drill keeps turning and Jmann has ordered a Bentley W12 GTC.

[mistt] 14/1/2021 15:49

I see the oil ramp, second attempt, has begun on LSE. Should help Lombard shift a few more, for another rinse n repeat.

[whoppy] 14/1/2021 15:33

The deadline for Lombard to exercise the call is 12/02/21. If BPC announce the well result after this date, then they miss out on the call. Assuming the well result is positive, I would think BPC will announce the well result after the deadline, on 15/02/21. Reason being, it means less dilution if Lombard haven't exercised their call option. Also, the reconciliation payment guarantee date for the funding agreement (not the option agreement) is 60 days after spud, 18/02/21. This gives Lombard 4 days to get their average sale price above 2.3p if it wants to sell some shares between 15/02/21 and 18/02/21. Of course, BPC could issue the well result before the 12/02/21, and if it's successful Lombard will exercise it's option on the day of the news. But that would be a lot of free shares, so I think BPC will want Lombard to make the call themselves, which they might not do if they don't want to take the risk.

[lithological heterogeneities] 14/1/2021 15:21

I still think BPC will find oil, lots of it.

10 years ago there were reports of oil seeping out of the bedrock.