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 Shares Traded Last Trade
  -0.016 -2.97% 0.522 37,146,007 16:35:09
Bid Price Offer Price High Price Low Price Open Price
0.50 0.55 0.525 0.50 0.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -3.49 -0.20 25
Last Trade Time Trade Type Trade Size Trade Price Currency
16:39:30 O 2,500,000 0.535 GBX

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Date Time Title Posts
07/3/202120:27BPC Ltd52,092
06/3/202108:39Bahamas Petroleum Company PLC4,012
17/2/202123:21Red Flag to Superstar in a short time span.88
17/2/202122:40BPC - Oil exploration in the Bahamas23
17/2/202121:29The price of success...7

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Bahamas Petroleum Daily Update: Bahamas Petroleum Company Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker BPC. The last closing price for Bahamas Petroleum was 0.54p.
Bahamas Petroleum Company Plc has a 4 week average price of 0.48p and a 12 week average price of 0.48p.
The 1 year high share price is 4.80p while the 1 year low share price is currently 0.48p.
There are currently 4,838,548,349 shares in issue and the average daily traded volume is 44,366,479 shares. The market capitalisation of Bahamas Petroleum Company Plc is £25,257,222.38.
milanista11: I made some random research on the internet about the oil extracting industry in Trinidad and I found some interesting and intriguing things. Generally the oil industry is in a bad shape after years of lack of investment the equipments are mainly obsolete, the majors have left and most fields are owned by Petrotrinidad which wants to increase production subletting or giving concessions for the fields to independent drillers. Literally thousands of abandoned oil wells cover the entire island of Trinidad and many others run with diminishing production until the end. About this independent drillers we have the case of Cerp now BCP with the known problems of poor yields and chronic losses. A similar case was the company Range Resources which had a production of 1000 bbls /day. This company was also making chronic losses. Therefore it was closed last year. So a similar track record as Cerp. Now the surprise and intriguing thing. There is a Canadian company in Trinidad doing the same as Cerp. They produce around 1600 bbls./day and some natural gas. They have slightly more than 200 wells over several oil fields. Some of them are small and/or not prolific yielding as low as 50 bbls./day. The name of this company is Touchstone explorations TSX in Toronto and has a valuation of around 550 millions CAD. The amazing thing is that this company long traded at 0.20 CAD. In May 2020 they traded at around 0.50 CAD and than they made an oil discovery (so in the measure also BPC wants to make) and the share price went up sharply and continued so helped by rising oil prices and now the share price is 2.60 CAD. I analysed superficially the company and I guess it is actually overvalued. But they want to expand their asset base through exploration and also production from 1600 bbls/day to 5000 bbls/day plus natural gas.Their track record is good and they delivered. So very much contrast between the 2 companies, one failed the other is a success. Where is and will be BPC in the picture? In any case Touchstone exploration is a benchmark for investors in small sized oil companies in Trinidad. On their website there is plenty of information about the company and the oil industry in Trinidad in general.
12bn: 12bn - 04 Mar 2021 - 15:51:34 - 52008 of 52038 BPC Ltd - BPC angryarry,you have held this dog from LGO days at 130p equivalent,don't you think that you are in no position to ramp this share? The share price often lifts after a big sell is worked through the system Bahamarama but the increase is often just on the offer and often does not last. Holders should ask themselves if they think BPC has enough money to drill more wells or whether they will need to fund raise. My guess is that they will need to fund raise very soon. We might even get a share consolidation first to get the numerical share price up.BEWARE.
12bn: angryarry,you have held this dog from LGO days at 130p equivalent,don't you think that you are in no position to ramp this share? The share price often lifts after a big sell is worked through the system Bahamarama but the increase is often just on the offer and often does not last. Holders should ask themselves if they think BPC has enough money to drill more wells or whether they will need to fund raise. My guess is that they will need to fund raise very soon. We might even get a share consolidation first to get the numerical share price up.BEWARE.
12bn: 12bn2 Mar '21 - 14:58 - 51949 of 51960 Edit 0 0 0 angryarry,could you tell us why Cerp/LGO merged with BPC if Saffron 2 was such a cert winner? What are you old Lgo holders left with now,21% of what you originally owned of Cerp/LGO assets plus a share of whatever cash BPC has left to drill with? You have watched your investment dwindle away to virtually nothing over the years. LGO had a share price of over 6.5p at its highest point well before the 20:1 consolidation,thats 130p now! You and your sidekick BumchaserEgg have held all the way down arguing with me all the way. Yes I have also had losers but they are not this share which is what is really relevant on this thread.
bigsi2: Not much has changed ??Are you choosing to ignore themore than threefold increase of shares in issue ??Comparative to 2017 TVR the share price now stands at around 2.0pAdditionally BPCs prospects have lost most of the attraction given PV1 failure. Possibility of Raising cash without the now even less likely JV partner for future drills is zero IMO.Add to this recent environmental opposition and lack of political willingness to be seen to support - with the election less than 18months off.Are CERP assets enough to add 25m to market capitalisation? given that funds will need to be raised to drill/develop entailing further dilution to existing holdings?Do these basic fundamentals count as change ??All said that doesn't mean the share price won't return to 1p on hype and a pump.My advice If it does ... sell the lot Trading is the ONLY way to make a profit with these cash poor share printing operations
the millipede: You are right Whoppy that what Bpc needs is drilling success. If Saffron 2 comes good, I think we might see the share price rise enough to see interest in the CLNs, which in turn will decimate the share price further. So I think this will struggle to get far past 0.8p. If Saffron 2 is a failure, BPC is screwed IMVHO. They would then have a choice to blow the remaining cash on Suriname, or survive as a going concern for another 12 months.
mistt: Oil at $63. Current 500bopd. Cost per barrel $20. $43 per barrel free cash. $645k free cash to the bottom line per month. $7.74m per year. 2500 bopd production target, but no money to develop. Complete uncertainty over cash and financing situation, but have expressed plans to dilute by nearly 1.5bn shares 0.5p share price but nobody can value because the company isn't telling anybody whether they are in fact a going concern, and who the new management will be. Still a shed load of free shares to be flogged at whatever can be got for them. Share price hits 0.4p, which would be 3bn dilution to close the gap even at that price - ukog here we come It's a complete pig in a poke. A gamble. Folks have gambled once - why would you invest here given the opps elsewhere, where at least where there's information available upon which to make a considered opinion, than simply take a wild gamble? AIM has a history of penny shares that folks chase down to micro-penny shares in the belief that a share 'looks historically cheap'
1waving: . Been having a look through BPC to see if what remains has potential. Reading through the "Capital Strategy" ( which should more aptly be called " Mugging The Shareholders") , made me shiver. Very high cost with continuous dilution up to the end of 2023 is what I can see. It is more like a plan to serve the Financial Services industry. There needs to be major rationalisation and changes within the company First and foremost there needs to be a culling, starting at the top with Simon Potter. " Capital Strategy Following the conclusion of the Perseverance #1 drilling programme, the Company is seeking to consolidate and further strengthen its balance sheet, so as to direct maximum effort towards planned value-adding drilling activities in Trinidad and Tobago and Suriname throughout the course of 2021. As part of this process, and further to the Company's announcement on 8 February 2021: -- BPC has reached agreement with the provider of its conditional fixed conversion price convertible note facility (the "Facility") to establish revised terms for the Facility and extend this Facility to ensure it remains available through the course of 2021 drilling operations in Trinidad and Tobago and Suriname, as follows: o the conversion price of all notes issued under the Facility ("Notes") has been amended from 2.5p to 0.8p; o the maturity date for all Notes will be a single maturity date of 31 December 2023, regardless of the date of issue of the relevant Notes; o the coupon on the Notes remains 12 per cent., to accrue from the date of receipt of any subscription funds by the Company; o coupon will be payable periodically throughout the term of the Notes, on each of 30 June 2021, 31 December 2021, 30 June 2022, 31 December 2022, 30 June 2023, and 31 December 2023 (each an "Interest Payment Date"); o on any Interest Payment Date, BPC can elect (at its sole discretion) to capitalise up to 50 per cent. of the coupon accrued on the Notes at the relevant Interest Payment Date, with any amount not capitalised to be paid in cash. Alternatively, BPC can elect to pay 100 per cent. of the coupon accrued on the Notes at the relevant Interest Payment Date in the form of BPC ordinary shares, to be issued at a price equivalent to 90 per cent of the volume weighted average price of BPC's shares in the 10 trading days prior to the relevant Interest Payment Date. This variation reflects BPC management's expectation that the Company, which is targeting material growth in production and cashflow through the course of 2021 and beyond, will have the ability to cash settle coupon (all or in part) throughout the term of the Notes, which will then allow the Company to use available surplus cashflow from production for this purpose, thereby reducing the overall potential dilutive impact of the Notes; o the provider has agreed to make an immediate additional GBP2 million subscription for Notes on an unconditional basis, thus increasing to GBP5 million the total amount of Notes subscribed for to-date, with settlement for the additional subscription (and coupon accrual commencement) on 28 February 2021; o the last date for subscription for further amounts of Notes, up to the total undrawn Facility availability of GBP10 million, is extended to 16 April 2021, and this date will be extended further to 30 June 2021 if a minimum of GBP8.5 million of Notes in aggregate have been subscribed for by 16 April 2021. The ability to draw-down on these remaining funds remains subject to satisfaction of certain conditions precedent, which the Company and the provider are engaging on collaboratively; o BPC retains the right, at is sole election, to scale back the remaining availability of the Notes by up to GBP7.5 million and BPC will now also have the additional ability at any time during the term of the Notes, at its sole discretion, to issue a notice to redeem the Notes early, by way of cash payment of the subscription price, all accrued coupon to the time of redemption, an early redemption premium of 5 per cent, and the issue of options to acquire the equivalent of 30% of the number of shares the redeemed Notes would otherwise have converted into, with such options to have an exercise price of 0.8p per share and an expiry date of 31 December 2023 . If the Company does elect to redeem the Notes in this way, the provider will first have a 10-day period in which it may elect to convert the Notes the subject of an early redemption notice; and o the fee payable to the provider on subscriptions for Notes is 6 per cent. All other terms and conditions of the Facility remain unchanged, as previously advised.
the millipede: EggChaser, The only advice I will ever dole out on these BBs is this: If you see posts as an opportunity to score points against those who disagree with you, you will never make any money. We are all here to make money. We are not here to be proven right. This is one reason I tend not to much on BBs where I own shares. (I made an exception here and look where it got me). I want to avoid getting dragged into silly arguments and keep an objective focus on my money. How many ex-CERP holders can say things are going well? Or long term BPC holders for that matter? Anyway, to add to Pro, who might be right, I think there is a second problem with a farm in and that is back costs. Essentially noone is going to pay them. $100m is a ridiculous amount to be paying an AIM tiddler for a share in future drilling. I suspect this has been the sticking point all along. If BPC is lucky, it might get $10m plus a share in two or three drills in exchange for a free carry. BPC's share might be as high as 25%. I have already given the example of Melbana, onshore true, but targeting a lot of oil in northern Cuba. Meanwhile noone has come up with any potential BPC-a-like. No other AIM tiddler that has ever been paid as much as $100m before a commercial discovery. I think BPC know this, and accepting financial reality was what forced Potter to do the CERP deal. The bottom line is I don't want to be right. But I don't think there will be substantial gains here till a successful Bahamas drill. I think we will be waiting a long time for that! In the meantime, you can spend you time wondering why people post, or engage with their points to see if it might help. FWIW.
12bn: BumchaserEgg lost 95% of his shares in a 20:1 consolidation. He then lost 28% of his remaining shares in the merger with BPC and now the share price is back to 0.55p! No wonder he is not a happy bunny and now old Cerp holders like him only own 21% of BPC but BPC really only has Cerp assets left. I guess he won't be able to buy his boyfriend that new mini-skirt he promised him! :) LOL
Bahamas Petroleum share price data is direct from the London Stock Exchange
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