Bahamas Petroleum Share Discussion Threads

[12bn] 14/5/2021 10:01

deltalo14 May '21 - 09:55 - 55792 of 55793
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12ds, No it hasn't, there's no pump and dump going on, just investors buying into a new company with a new board and new direction, exploration will just be the cream on the cake as oil production will now be the cake itself./////// PMSL, go onto the BPC website and you will find the producing wells produce 400-450 bopd and there are 135 of them,3 bopd on average. New wells in Trinidad only produce well for a short period of time then the production drops off a cliff. Will things be different with Saffron2 and other new wells,imo they won't but we shall see.

[12bn] 14/5/2021 09:56

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 09:55

12ds, No it hasn't, there's no pump and dump going on, just investors buying into a new company with a new board and new direction, exploration will just be the cream on the cake as oil production will now be the cake itself.

[12bn] 14/5/2021 09:53

Spoke too soon,the traders are coming in for another go. Someone should tell them of the 10:1 consolidation,the rights issue of 1.97 billion shares and the authority to issue a further 7500m share (equivalent at todays sp).

[12bn] 14/5/2021 09:50

The buying seems to have stopped,well that was a poor pump n dump,it may be best for any traders to get their nappies ready for the dump that I guess will come before the EGM on Monday.

[12bn] 14/5/2021 09:44

The question is 'will the rights issue' be taken up by many and if it isn't will a bucket shop actually take up the slack? If the answer is yes the VCs/bucket shop will take up the slack at 0.35p will they get any other guarantees from the BoD? VCs/bucket shops aren't investing in shares because they believe in a company but because they have some guarantee of profits.

[go_baby_go] 14/5/2021 09:40

I've heard BS before but 12bn gets the award from me.

[12bn] 14/5/2021 09:38

750m authority at 10x todays price is coming on Monday,the 5m buy will be swamped. I doubt the trader will hold them until Monday,if he is wise.

[deltalo] 14/5/2021 09:33

5m buy, very nice

[mistt] 14/5/2021 09:33

Agree. I think they most definitely want a floor on this, and to get the price bubbly. Just don't think the volume is going to be there. And after the placing, other than the boost from the sales brochure that will be released alongside that, this is going to be rooted at 3.5p. Depending on the discount via the financing agreement, the floor will then be set by whatever the true cost of the shares to Mr Bizzel and friends. Nice little earner.

[12bn] 14/5/2021 09:31

It looks like some traders are trying another pump n dump here again but with the EGM on Monday this could cost them dear,imo.

[mr woodland] 14/5/2021 09:24

MM want go up

[mr woodland] 14/5/2021 09:23

3pm today Latest time and date for splitting Application Forms (to satisfy bona fide market claims)

[12bn] 14/5/2021 09:22

BPCs Trinidad assets are all old CERP assets, ALL on-shore,anyone talking about off-shore wells is merely trying to con readers. Trinidad wells only produce 3 or so bopd on average over their 135 producing wells,no surprise that Texaco got rid of them.(please check the BPC website to verify this claim).

[zxie] 14/5/2021 09:18

When shares blue 12dog be hiding

[12bn] 14/5/2021 09:16

dimtalo,it must be nice for you and my other fans when I go fishing,especially when I leave the mobile phone,that I don't have,at home. :)

[dynamohum] 14/5/2021 09:16

All we’d need is Harry to post for a full house . . .

[moor sir] 14/5/2021 09:14

Well done udoj

[deltalo] 14/5/2021 09:14

12bs singing again, let's see if he's singing on Monday, he'll be back fishing again lol. Gone fishinghttps://youtu.be/2XZ0Y0TbTHQ

[moor sir] 14/5/2021 09:14

12 billion dog strong barking today

[12bn] 14/5/2021 09:14

Bid down to 0.35p officially but the MMs are still paying slightly more but not for long imo.