Bahamas Petroleum Share Discussion Threads

[deltalo] 19/5/2021 20:41

I know the housing market very well believe me. I'm 48 not 18, got lots of equity from the property market boom over the last 20 years. I'm into oil and copper recently as the demand will continue to rise, cheers

[zxie] 19/5/2021 20:33

Yes mate Looking good now . Just waiting for the oil maybe like 88E 20 bag

[deltalo] 19/5/2021 20:32

It's like building a house on land that's on- top of an unknown oil discovery, you only see the value of the house. All will become clear with the Saffron 2 spud that begins on Sunday.

[zxie] 19/5/2021 20:31

Hope you change new name for bahamdoc

[zxie] 19/5/2021 20:29

milanista11New Member since: 03 Feb 2021

[deltalo] 19/5/2021 20:26

Oh yes I forgot, it's because the company is only valued at current production levels from Trinidad and Tobago and all the other assets like Saffron 2, Suriname, Bahamas and Uruguay are all not valued in the current mkcap as stated from Eytan Uliel the new CEO recently,Correct.

[bahamarama] 19/5/2021 20:19

Deltalo...Just to get you started...In the housing market, it would be considered Negative Equity.

[bahamarama] 19/5/2021 20:15

Jeepers, Deltalo...MCap lower than cash balance..?Why might that be..?Get back to me.

[milanista11] 19/5/2021 19:49

Bad news is: "The placing is not underwritten". That means no guarantor to take over the shares. The other statement:"Placing will be conducted by bookbuilding process"
The best case is, all shares will be sold at 0.35p, in the middle all sold at less then 0.35p on average and at least not all shares sold, with a consequent missing of target. Let's see what happens tomorrow.

[deltalo] 19/5/2021 18:59

Great news you mean, don't you understand that it's not and open market public placing :-) .......The Placing will be conducted by way of an accelerated bookbuilding process (the "Bookbuild") which will be launched immediately following this Announcement in accordance with the terms and conditions set out in Appendix I. The Placing Shares are not being made available to the public. It is envisaged that the Bookbuild will be closed no later than 8.00 a.m. GMT tomorrow, 20 May 2021 . Details of the number of Placing Shares and the approximate gross proceeds of the Placing will be announced as soon as practicable after the closing of the Bookbuild. The Placing is not underwritten.

[zxieistoast] 19/5/2021 18:50

Woof Zxie. Jump.

[deltalo] 19/5/2021 18:34

Exactly, it's still under the open-offer as i said before, we can get on with the party now :-)The company was already going ahead with the appraisal well despite the open-offer anyway imho, the company still has 13m in the bank and another 14m available if needed, the cash balance is well above the mkcap and that's without all the assets valued in lol, my shares in this company now as it stands is a license to print money, watch this space.We'll do very well here Zxie my friend.

[zxie] 19/5/2021 18:04

The Placing will be conducted by way of an accelerated bookbuilding process (the "Bookbuild") which will be launched immediately following this Announcement in accordance with the terms and conditions set out in Appendix I. The Placing Shares are not being made available to the public. It is envisaged that the Bookbuild will be closed no later than 8.00 a.m. GMT tomorrow, 20 May 2021 . Details of the number of Placing Shares and the approximate gross proceeds of the Placing will be announced as soon as practicable after the closing of the Bookbuild. The Placing is not underwritten.

[bahamarama] 19/5/2021 17:35

Well, I can't share any of the enthusiasm. The begging bowl had to be sent round twice. Just to secure enough funding to start a drill that is not within the Bahamas licence area. (Sorry. I held for 10 years). Saffron, even if successful at the top end of expectations, will not return enough revenue to keep the board paid. So, shareholders will just keep being asked to fund further drills. Especially once consolidation reduces the shares in issue. And allows for it. I lost money here. But I feel I'm preserving my pride. Good luck to all, though. I know there are many newer holders who might see SOME return. Just not what some of us older timers bought in to.

[deltalo] 19/5/2021 17:32

I expected a less percentage than 38 percent tbh, and I expect most others did. Let's move on with the work and deliver revenue. Good result I must say.

[mistt] 19/5/2021 17:28

deltalo, not how it works. Once you include the inevitable shares in exchange for fees, the price to the bucket shops will be less on average. There is not the backstop you think there is. We'd all have bought at .32 if we thought there was a floor!

[deltalo] 19/5/2021 17:14

Saffron 2 appraisal well, total cost including producing is 3m, the open-offer has delivered 4m and so it's going ahead as planned. Good result considering the share price was below 0.35 for most of last week. No risk now just all good news to come and the market will love that.

[deltalo] 19/5/2021 17:06

0.35 placing price, share price is about that now so no impact on the sp, 750m at 0.35 taken up is good considering the share price was around that or below for the last few weeks. Saffron2 will now go ahead as planned.

[whoppy] 19/5/2021 17:03

Placing increased only if excess demand. Pretty good result 38%. Accelerated bookbuild tonight, so should be taken up by institutions at 0.35p for a mere £4.3m. £2.63 already raised.

[mistt] 19/5/2021 16:58

2/3rds of the offer not taken up. That's going to be a shedload hitting the market.

"Company reserves the right to increase the size of the Placing in its discretion", hah!

[deltalo] 19/5/2021 16:47

12bs, I think you'll be going fishing tomorrow lol. Don't forget your phone this time.

[deltalo] 19/5/2021 16:39

We will hear tomorrow, and Saffron 2 is happening Sunday.