Bahamas Petroleum Share Discussion Threads

[12bn] 26/3/2021 07:20

pdated Corporate Presentation

BPC, the Caribbean and Atlantic margin focused oil and gas company, with production, appraisal, development and onshore and offshore exploration assets across the region, has today released an updated Corporate Presentation, which is available on the Company's website - www.bpcplc.com

The updated Corporate Presentation summarises and consolidates in one document various matters that have been set out in a number of recent Company RNS announcements. In particular, the updated Corporate Presentation draws attention to the fact that since completion of the drilling of Perseverance #1 in The Bahamas, the Company's near-term strategic focus is to add immediate production, oil sales and cashflow in respect of its assets in Trinidad and Tobago and Suriname. BPC has existing production of 450 - 500 bopd and a full program of drilling activities and corporate actions planned across the next 18 months (subject to capital availability), designed to add material levels of profitable production from existing producing oil fields and known discoveries, as summarised in the following table (on an indicative basis):


Production Incremental operational Capital costs
cashflow per annum
Current production 450 - 500 US$3m -
bopd
---------------- ---------------------------- --------------------
Incremental production 100 bopd US$0.9m US$1m
programs
---------------- ---------------------------- --------------------
Infill drilling programs 200 - 400 US$3m - US$4.5m Up to US$6m
bopd
---------------- ---------------------------- --------------------
Saffron-2 200 - 300 US$2m - US$3m US$3m
bopd
---------------- ---------------------------- --------------------
Saffron full-field 4,000+ bopd US$25m+ Up to US$60m
development (2-3
years)
---------------- ---------------------------- --------------------
Suriname project 500+ bopd US$2.5m Up to US$3m
---------------- ---------------------------- --------------------
Business development 100+ bopd US$0.7m US$2.5m - US$3m
opportunities
---------------- ---------------------------- --------------------

Total work program funding required is estimated to be approx. US$25-$40m, as the cash flows generated from production growth will be reinvested into drilling subsequent wells - refer to the Company's recent RNS of 24 March 2021 for further explanation of its future work program, and potential sources and uses.

For further information, please contact:


Bahamas Petroleum Company plc Tel: [phone]
Simon Potter, Chief Executive Officer 647 882
Strand Hanson Limited - Nomad Tel: [phone]
Rory Murphy / James Spinney / Jack Botros 3494
Shore Capital Stockbrokers Limited - Tel: [phone]
J oint Broker 4090
Jerry Keen / Toby Gibbs
Investec Bank Plc - J oint Broker Tel: +4 4 (0) 207
Chris Sim / Rahul Sharma 597 5970
Gneiss Energy - Financial Adviser Tel: [phone]
Jon Fitzpatrick / Paul Weidman / Doug 9263
Rycroft
CAMARCO Tel: [phone]
Billy Clegg / James Crothers / Hugo Liddy 4980

Notes to Editors

BPC is a Caribbean and Atlantic margin focused oil and gas company, with a range of exploration, appraisal, development and production assets and licences, located onshore in Trinidad and Tobago, and Suriname, and offshore in the waters of The Bahamas and Uruguay. In Trinidad and Tobago, BPC has five (5) producing fields, two (2) appraisal / development projects and a prospective exploration portfolio in the South West Peninsula. In Suriname, BPC has on onshore appraisal / development project. BPC's exploration licence in each of Uruguay and The Bahamas are highly prospective, and offer high-impact value exposure within the overall portfolio value.

BPC is listed on the AIM market of the London Stock Exchange. www.bpcplc.com
ENDS

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

[deltalo] 26/3/2021 07:13

Excellent news.:-)

[zxie] 26/3/2021 07:11

BPC has on onshore appraisal / development project. BPC's exploration licence in each of Uruguay and The Bahamas are highly prospective, and offer high-impact value exposure within the overall portfolio value.

[zxie] 26/3/2021 07:07

Nice news well done BPC

[zxie] 26/3/2021 06:47

The well conductor is due to be installed during March and mobilisation of rig and associated equipment will commence mid-April 2021. The well is expected to spud on or around 17 May 2021. The Bahamian people will know by April if they are an oil rich nation.

[specialistlegionsupercharged] 26/3/2021 06:14

Lintard thought I was BigSi for a few years. It is so easy to manipulate idiots in the dark such as Lintard, bumchaser and Zxie. Hahahahaha Hahahhahahah Hahhahahah

😀😀😀👏8079;👏ԅ12;😀

[specialistlegionsupercharged] 26/3/2021 06:12

Dog. Woof 🐶

[linton78] 25/3/2021 20:30

Special needs had a poor education in Delhi.

He invested in ODX and can’t string a sentence together but claims to have £72m... Lol.

Sad but true.

[zxie] 25/3/2021 20:18

It is highly recommended (KOD) next GGP

[zxie] 25/3/2021 19:49

Big day Kod tomorrow. GBP3.5 million to Advance Development and Exploration Activities at Priority Gold Assets and Flagship Bougouni Lithium Project,

[mr woodland] 25/3/2021 18:58

Well done time on

[specialistlegionsupercharged] 25/3/2021 18:55

Zxie dog - Lintard dog. I throw them my left overs at night so they feed. Woof

[specialistlegionsupercharged] 25/3/2021 18:54

Dog jump off cliff - idiot blind lead blind. Woof

[specialistlegionsupercharged] 25/3/2021 18:54

Smelly dog like eat other dog sh*t. Woof

[zxie] 25/3/2021 18:53

Special dog make euthanasia

[specialistlegionsupercharged] 25/3/2021 18:53

I go for refinancing at 0.25p if lucky and then bankruptcy

[specialistlegionsupercharged] 25/3/2021 18:51

Dog Post. Woof

[zxie] 25/3/2021 18:13

Yes big day tomorrow KOD

[zxie] 25/3/2021 18:13

Hi mistt There are only things you wouldn't expect in the stock market. I still looking forward for BPC

[mr woodland] 25/3/2021 18:11

Well done KOD booom tomorrow

[12bn] 25/3/2021 18:05

Good post mistt but I said that. :)////////12bn - 25 Mar 2021 - 08:31:53 - 52715 of 52749 BPC Ltd - BPC
The question here should be 'at what price will the next fund raising be at?'. My guess is 0.35p or its equivalent if there is a consolidation first.

[mistt] 25/3/2021 17:51

Zxle

fat fingers, you surely meant 0.2p? Though personally, I think that if they can get that refinancing package out sharply they could get it away for 0.35p. They can't afford to sit around however and watch the mkt value slowly fall away. Makes you wonder what's coming, doesn't it?