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Share Name Share Symbol Market Type Share ISIN Share Description
Bahamas Petroleum Company Plc LSE:BPC London Ordinary Share IM00B3NTV894 ORD 0.002P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.021 6.18% 0.361 0.34 0.37 0.36 0.32 0.34 75,948,530 16:35:21
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -3.5 -0.2 - 17

Bahamas Petroleum Share Discussion Threads

Showing 63151 to 63171 of 64950 messages
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DateSubjectAuthorDiscuss
08/4/2021
16:31
No one knows at what price a placing will be at but the company has said it needs $25m-$40m so it is fair to assume that dilution is coming.
12bn
08/4/2021
16:28
Says who ? Dyor and make your personal choice, it makes no odds to say this or that, especially when there's no proof, if it does it does, but let's not scare people falsely.
dirtybert
08/4/2021
16:27
If the placing is at 0.35p then you could hold many more shares here but BPC is unlikely to ever be profitable,CERP never managed it.
12bn
08/4/2021
16:25
MMs paying 0.625p but if a dilution RNS arrives at 7.00 am present holders will be screwed. You traders have 6 mins to trade out of this or you take a big risk.
12bn
08/4/2021
16:25
I'm not fussed, if it raises in time so be it, they all do, that no one has any idea of as of today anyway, at these levels does it matter really ? Looking at a long stance, doesn't come into it really.
dirtybert
08/4/2021
16:19
Fine dirtybert but I suggest you read the RNS I cut n pasted and work out where you think the $25-$40m will come from.
12bn
08/4/2021
16:18
So be it, let's be straight, I'm not selling, not trading, just long, everyone makes a choice, I wish you all the best with yours.
dirtybert
08/4/2021
16:15
Those Perseverance #1 costs remaining to be paid (noting that some items are being disputed or negotiated by the Company), along with the Company's anticipated but discretionary 2021 work programs in Trinidad and Tobago and Suriname (as announced by the Company on 18 March 2021), renewal of the Company's Bahamas licences, and the Company's 2021 overheads, will require a total estimated spend over the balance of 2021 and into 2022 of between $25 million and $40 million.////// DILUTION is coming,the company has told us if you can understand the above comments by them.
12bn
08/4/2021
16:13
I ticked you up BigSi2,you seem to be one of the few people here posting honestly and sensibly.
12bn
08/4/2021
16:11
You don't have to guess at what isn't there ... the company has specifically outlined its intentions to raise cash as it has done previously.Warnings don't come much clearer
bigsi2
08/4/2021
16:10
The fact is that all BPC has in producing assets is Cerps old wells in Trinidad and they never in 10 years produced a profit for Cerp. Cerp spent over £20m drilling new wells, work-overs and CO2 injection all failed to produce a profit. They only survived by doing constant placings,just like BPC,it is a con imo. Mugs get sucked in on promises then they get ripped off by DILUTION.
12bn
08/4/2021
16:07
12 I don't care tbf, I'll see it when it does, that's my risk, not guessing at what isn't even there.
dirtybert
08/4/2021
16:05
DirtyBurk,how will BPC fund all this extra drilling? Will they use bottle tops?
12bn
08/4/2021
16:05
12 you're getting to sound a tad desperate for share price drop, and your buy in level, hope it comes good for you.
dirtybert
08/4/2021
16:04
Hold tight here
zxie
08/4/2021
16:03
Just Ignore him. He is door keeper
zxie
08/4/2021
16:03
BPC does not know what the final cost of Perseverance 1 will be and so we don't know how bad its cash position is but an unexpected extra $10m in costs won't help. They expect that they will need to raise $25m-$40m but it could be more when the final bill comes in. That is why DILUTION is coming here soon.
12bn
08/4/2021
16:00
I have thanks, and thanks for your concern, but I'm fine here, plenty of drilling's here coming, and with a very reasonable outlook.
dirtybert
08/4/2021
15:59
RNS Number : 2483T Bahamas Petroleum Company PLC 24 March 2021 24 March 2021 Bahamas Petroleum Company plc ("BPC" or the "Company") High-Impact Exploration Update BPC, the Caribbean and Atlantic margin focused oil and gas company, with production, appraisal, development and onshore and offshore exploration assets across the region, provides the following update on its high-impact exploration assets in The Bahamas and Uruguay. Highlights -- Since the completion of the drilling of Perseverance #1 , the Company has had discussions with industry counterparties in relation to a potential farm-out of its licences in The Bahamas, and is working to formalise an entirely new farm-out process. Consequently, the Company intends to renew the four southern licences in The Bahamas into a third, three year "drill or drop" exploration period -- Final Perseverance #1 drilling cost expected to be approx. $45 million compared to pre-drill estimate of approx. $35 million; additional costs of approx. $10 million incurred as a result of heightened Covid-19 procedures (approx. $3 million) and side-tracking operations related to mechanical debris in the well (approx. $7 million) -- Formal contract execution for Off -1 block in Uruguay expected 2Q 2021; independent technical work undertaken by Uruguayan national oil company ANCAP indicates a P(50) estimated ultimate recovery volume (EUR) of 1.34 billion barrels at the Lenteja prospect -- Cash on hand of approx. $13 million (as at 1 March 2021, including unconditionally committed convertible notes); anticipated additional capital requirement in 2021/22 across the business of $25 - $40 million, the Company expects to more than cover the difference from various potential funding sources The Bahamas Until mid-2020, the Company's licences in The Bahamas were its sole asset and therefore the drilling of an initial exploration well was the Company's dominant strategic focus. Consistent with this focus, the Company secured approximately $50 million of funding since early 2019 (as detailed in the Company's announcements over the period) which enabled the Company to retain operatorship and 100% equity in its licences, as well as deliver the Perseverance #1 well in the face of considerable challenges - including a year's delay and significant disruption caused by the Covid-19 pandemic, a collapse in oil prices, and an ultimately unsuccessful last-minute legal action by environmental activists to halt drilling. The Perseverance well was drilled safely and without environmental incident, in the period 20 December 2020 to 6 February 2021. The Perseverance #1 well did not result in a commercial discovery. The Company is, however, encouraged that the results from the Perseverance #1 well indicated the presence of hydrocarbons. Technical results from the drilling campaign support the view that other closures, structures and both shallower stratigraphic and deeper structural plays in the Company's licence areas continue to provide significant prospectivity with multiple viable drillable prospects of scale which merit additional study and exploration activity. The newly acquired technical data from Perseverance #1 will facilitate valuable updates and refinements to basin modelling, biostratigraphy and geochemistry. In particular, the significance of the new geothermal gradient data placing the oil maturation window deeper stratigraphically has critical implications for the deeper Jurassic play that produces oil in the Eastern Gulf of Mexico from an analogous play type (and which is the current focus for several companies actively exploring in the region). Additionally, data derived from Perseverance #1 provides a modern-day well tie to recalibrate existing 3D mapping of the Aptian intervals untested in closures and structures elsewhere in the licence areas. The primary focus of the ongoing post-well evaluation work is on the deeper Jurassic pre-salt clastic, structural play and the extent to which potential multiple-target drilling locations can be optimised to access and evaluate untested shallower closures whilst testing this primary, deeper play. Given these technical results, since announcing the results of the well the Company has had a number of discussions with industry counterparties in relation to a potential farm-out of the licences, and the Company is now working to formalise and launch an entirely new farm-out process via Gneiss Energy. The farm-out will seek to introduce a funding and operating partner for the next stage of exploration activity in The Bahamas. The Company is in the final stages of integrating the well information with its historical dataset and expects to commence the farmout process upon completing this work in the coming days. Concurrent with the farm-out process, the Company intends to exercise its right to renew the four southern licences into a third exploration period at the end of the current second exploration period (at the end of June 2021). The third exploration period will last for three years, and will require a further exploration well to be drilled before the period expires, failing which the licences would be forfeited (i.e., "drill or drop"). Financially, the Company's most recent estimate, prior to commencement of drilling, had estimated a total cost for Perseverance #1 of up to $35 million. The Company is still awaiting various final invoices relating to the drilling of Perseverance #1, but the total cost of Perseverance #1 is presently estimated to be approx. $45 million. Over and above the pre-drill estimated well cost, the Company firstly incurred an estimated $3 million of additional expenditure on enhanced Covid-19 related processes beyond those which had been planned for prior to commencement of drilling. These processes were put in place to prevent virus infection at the installation, which could have resulted in premature termination of drilling. Strict adherence to these Company processes, including pre-deployment screening and protocols resulted in the detection of 14 Covid-positive personnel who were denied access to the facility. Enhanced protocols involved chartering planes and additional helicopter transit flights to the budget projections, along with significantly increased accommodation and staffing costs as staff remained quarantined or retained on the drilling vessel for considerably longer than planned. Secondly, a considerable amount of non-productive time (and hence additional cost of approx. $7 million) was added to the overall drilling program as a result of mechanical debris in the hole lost from the Managed Pressure Drilling (MPD) system requiring side-tracking. In aggregate, these additional unbudgeted items have added up to an estimated further approx. $10 million of cost to the overall program cost. Whilst the majority of Perseverance #1 costs were incurred and paid prior to and during the course of drilling, work is ongoing to agree the final amounts remaining to be paid with contractors and suppliers arising from the additional unbudgeted costs (including some disputed amounts and some refunds owing), and to finalise a schedule for those payments over the coming months. Those Perseverance #1 costs remaining to be paid (noting that some items are being disputed or negotiated by the Company), along with the Company's anticipated but discretionary 2021 work programs in Trinidad and Tobago and Suriname (as announced by the Company on 18 March 2021), renewal of the Company's Bahamas licences, and the Company's 2021 overheads, will require a total estimated spend over the balance of 2021 and into 2022 of between $25 million and $40 million. However, the eventual actual spend will ultimately be dependent on a number of factors, many of which are at the Company's discretion - for example, the extent and timing of future development drilling at the Saffron project, which in turn is dependent on the outcome of the drilling of Saffron #2, expected to commence in mid-May 2021.
12bn
08/4/2021
15:57
Dirtyburk,BPC had hopes that Perseverance 1 would hit oil but it had a duster and that is why the share price dropped. They are now probably skint,DO SOME RESEARCH.
12bn
08/4/2021
15:54
Amazing how none of these worries of placings were around when it was 2.5 - 3p ? How strange that because it's dropped unnecessarily low now whilst we wait for the next drills soon, all of a sudden it's reared now, on a healthy rise from base, just have to wonder why ?
dirtybert
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