Bahamas Petroleum Share Discussion Threads

[12bn] 14/5/2021 08:21

12bn - 12 May 2021 - 14:51:29 - 55558 of 55742 BPC Ltd - BPC
Good post Martyn9 but I am skeptical that much of the drill program will ever happen with costs at $3m a pop. The BoD have RNSd their wish list of actions to tempt holders into buying into the rights issue but we don't know what their finances really are. All the BoD says is that there are outstanding debts on the Perseverance1 drill and it tells us what cash they had at a point in time in March but we don't know what cash they actually have now. My guess is they are very low on cash and will probably know that $3m a well is a silly amount for wells that lose production fast and end up at an average of 3 bopd. Saffron2 COULD be different from the other 135 producing wells (and probably will be,at least initially) but will they gamble on that? My guess is they will wait and see just what happens to Saffron2 in say 6 months time and then decide if they will try another well drill but I could be wrong.
12bn - 12 May 2021 - 14:39:38 - 55557 of 55742 BPC Ltd - BPC
12bn10 May '21 - 13:53 - 55440 of 55443 Edit
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Goudron 45-50 active wells. Inniss-Trinity 15 active (BPC gets only half).South Erin 50-60 wells. SWP wells are just exploratory. The point is BPC has a lot of wells but only 450-500 bopd from them all! The reason is the wells individually produce very little and so you can see why I am skeptical about how 1 more well will make much difference in the long run.////// The BPC website has the production for Trinidad at 400-450 bopd, so even worse than I thought. 400 divide by 135 wells is only 3 bopd on average,so I wouldn't hold out for Saffron2 changing things much. 7500m new shares at todays share price will impact the sp, as will death spiral finance if/when the rights fails imo.

[12bn] 14/5/2021 08:21

dimtalo,why would I be in a bad mood,I am not short here? Do you ever talk sense?

[deltalo] 14/5/2021 08:20

Very desperate 12bs this morning, he's had no sleep, up all night fishing trying to take his mind of the short that's about to be hammered, Get some sleep and come back in a better mood.

[12bn] 14/5/2021 08:17

Meeting is on Monday traders,you do not have long to get out before a big share price fall imo.

[12bn] 14/5/2021 08:15

Poor innocent dimtalo,the BoD will say anything to promote its cause,I personally am very skeptical about any of their claims. However,your innocence is touching.

[12bn] 14/5/2021 08:13

It is thus proposed that all existing ordinary shares will be subject to a 1 for 10 consolidation.

New Ordinary Shares issued pursuant to the Share Consolidation will have exactly the same rights as those currently accruing to existing ordinary shares under the Company's Articles, including those relating to voting and entitlement to dividends.

General share issuance authority

At the EGM, Shareholders will be asked to increase the Company's authorised share capital post share consolidation, and thereafter to approve a temporary authority for the Company to issue up to 750,000,000 new ordinary shares (on a post-share consolidation basis). If this authority was ultimately to be used in its entirety (and assuming the consolidation of the Company's share base is approved, the Open Offer is fully taken up or any Ordinary Shares not taken up are successfully placed, and the various other actions described in this document are completed) this would represent a total potential dilution of approximately 50 per cent. on a fully diluted basis, without the need for seeking further shareholder approval, and with such capacity to be in place until the end of 2022.

[deltalo] 14/5/2021 08:12

12bs, Current analysis not from me, They're the expert's who said it, and your an expert who knows best because?

[12bn] 14/5/2021 08:08

deltalo14 May '21 - 08:04 - 55733 of 55734
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All about the mkcap, the company only valued by current production in Trinidad,
All the other assets like Saffron 2 Uruguay, Bahamas are not valued in the mkcap, can't you understand that./////// The market cap is £18.9m and BPC is loss making,even an idiot like you must see that the company is valued at more than its current production.

[deltalo] 14/5/2021 08:06

12bs getting very flustered this morning lol.

[12bn] 14/5/2021 08:05

BigSi2, I use 7500,000,000 with 'at todays prices' as the 750,000,000 shares are to be issued after the 10:1 consolidation.

[deltalo] 14/5/2021 08:04

All about the mkcap, the company only valued by current production in Trinidad, All the other assets like Saffron 2 Uruguay, Bahamas are not valued in the mkcap, can't you understand that.

[bigsi2] 14/5/2021 08:03

Ease up on those noughts 12BN- although give it time

[12bn] 14/5/2021 08:02

dimtalo,how do you know there wasn't a big sell order that held the rise back for hours,please explain.

[12bn] 14/5/2021 08:01

dimtalo,I wouldn't worry too much about the 10:1 consolidation it is the 7500,000,000 new shares at todays prices that I would worry about. (Although the share price will fall back from 3.5p to here in time,imo).

[bigsi2] 14/5/2021 07:57

Your shares won't be worth the same once those 750m additional shares post EGM start to be issued -

[bigsi2] 14/5/2021 07:56

Do you understand dilution??If you've been holding these for as long as is suggested surely you've grasped the principle??

[bigsi2] 14/5/2021 07:56

So ....PV1 was binary then yeah??!a 90% drop puts it safely in "binary" territory IMO- ##Remember..."If you learn from defeat, you haven't really lost."

[deltalo] 14/5/2021 07:53

All about the mkcap, my shares will be worth the same, if that's all you and mongtard 12bs can be scaremongering with, then I'd give up if I were you.

[zxie] 14/5/2021 07:50

Lots dog this morning

[deltalo] 14/5/2021 07:47

Yes your here

[bigsi2] 14/5/2021 07:47

3 trades on this since OO - back in on the overhang next week or announcement of feeble uptake - although will they do a 4:30pm update on OO and proceed straight to placing as previously ??One more decent trade in this then leave it alone - additional dilutive fundraisers are a certainty.And who wants to hold after a 10:1

[deltalo] 14/5/2021 07:46

12bs waiting for a sell order that doesn't exist, crying by pool fishing trying to relieve the stress lol, what a montard you really are. I smell burning shorts ?