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#AST: Board changes and new strategy for Ascent as Hutchinson looks at new projects Watch Here

#AST: Board changes and new strategy for Ascent as Hutchinson looks at new projects
EXCLUSIVE: Petro Matad announce fully funded 4 well Mongolia campaign


Bahamas Petrol Share Chat (BPC)



Share Price: 1.225Bid: 1.10Ask: 1.35Change: -0.025 (-2.00%)Faller - Bahamas Petrol
Spread: 0.25Spread as %: 22.73%Open: 1.25High: 1.25Low: 1.225Yesterday’s Close: 1.25


Share Discussion for Bahamas Petrol


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Hallowed
Posts: 567
Opinion:No Opinion
Price:1.25
RE: Grand Scheme
Today 09:13
That all sounds plausible but this share (along with AMC) have been huge disappointments nonetheless.
 
Tiburn
Posts: 709
Opinion:No Opinion
Price:1.25
Grand Scheme
Today 07:06
The last few years have been tough for the offshore oil industry, BPC has suffered from this

2008 economy crash
oil price lows
Exploration budgets down
Major risk models very conservative for investment
Deepwater Horizon
Shale oil market development
etc

None of this is BPC fault but it has meant no Major has been prepared to take on this substantial undertaking to evaluate billion barrel offshore with high environmental impact risk to a tourist based economy.

The fact that the exclusive Major had a look in the first place is a sign that these factors are mostly put to bed, but risk remains and perhaps is just too much or them to go it alone.

Its assumed the seismic and geology add up, as independently verified - its at a point where the only logical next step is to drill to find out.

So why didn't they commit? It could be that they wish to do so but in a consortia to share risk a new entity with perhaps 3 players involved. Perhaps enabling this JV is the very mandate given to Macquarie to broker which needs time, communications will be tight.

That makes more sense than the lifestyle company charge to me frankly, as the remuneration for BPC management on success is a cogent driver.

I'm still frustrated but will wait and see what could be.
jimtheknow
Posts: 267
Opinion:Buy
Price:1.25
RNS before Feb?
Tue 21:50
Does anyone think an RNS could be sneaked out over the next week or so with so much air time being given to other news?

Not that what goes on in the UK is of any real interest to Bahamians, but it could take the edge off any eco activist bad press. If you’re going to announce something potentially controversial then why not do it at a time that gives you the best chance of sliding under the radar.
Scully12345
Posts: 6,650
Opinion:No Opinion
Price:1.25
RE: When?
Tue 17:57
I'd bottom drawered these and just checked the price. Oh well, worth a topup tomorrow I think...only £500 or so mind.
JConchy
Posts: 1,115
Opinion:No Opinion
Price:1.25
RE: BPC
Tue 16:41
I no longer have a firm view on what these shares are worth long term although it could be as low as zero. But, failing zero it means there’s a deal to Fund a well and in such circumstances the price is more likely to go to 10p or more. Today’s price is an option on licence renewal and Farm in.

No point selling.
Kev7722
Posts: 276
Opinion:No Opinion
Price:1.25
RE: BPC
Tue 16:15
The last time the SP drifted down to c. 1.1p it triggered a wave of buys, so there may at least be an opportunity to get out for around the 2p mark coming... thinking that if I get that opportunity again I may well take it now
Michaelfleming
Posts: 2,695
Opinion:No Opinion
Price:1.25
Re bpc
Tue 15:32
Famous last words due diligence
Interestking
Posts: 300
Opinion:No Opinion
Price:1.25
RE: BPC
Tue 14:55
Hopefully the next update simply says:

Q.E.D!
Kev7722
Posts: 276
Opinion:No Opinion
Price:1.25
RE: BPC
Tue 14:17
The last 15+ half-yearly trading updates have all said, 'We are still working on securing a deal' - pretty much a word for word, copy and paste job... surely you don't actually expect the next update to say anything different?
oldabutnowisa
Posts: 1,256
Opinion:No Opinion
Price:1.25
RE: BPC
Tue 11:36
Agrred Brynjon - and if its 'we cannot agree a deal' then SP must put up a FOR SALE sign and see who will pay. Lets just hope there are two interested parties or more. This must be done as far as possible in the open because all this confidentiality is no longer fair on those of us who have their money invested.
brynjon
Posts: 2,994
Opinion:No Opinion
Price:1.25
BPC
Tue 10:39
All those years ago when Mr Burns came up with the plan I think it was a good plan with good brains behind it - it was Mr B who hand picked SP to take over the reins. I therefore cannot agree with the directors lifestyle company - though it does grip somewhere to see the days weeks months and years drift by. Frustration is a damaging thing and can end with irrational thoughts.

We need some news pretty quickly but it cannot be along the lines of 'we are still working on securing a deal'.

It needs to be either - we have a partner or we cannot agree a deal.
Tiburn
Posts: 709
Opinion:No Opinion
Price:1.275
bpc
Tue 08:11
GK
fair one mate
if i bail and it comes in after years of me tracking this share i would be completely gutted
id rather wait but it annoys me so much to have capital sitting doing nothing with so many other plays
gkb47
Posts: 937
Opinion:Hold
Price:1.275
RE: BPC
Tue 07:05
Tilburn - hope is all most of us have left here. Only choices are to bail out at a loss or wait until next RNS - they will have to release interim 6 month results by Easter anyway and will have to say something, although it may just be a '...negotiations are still continuing bla, bla, bla, hopefully conclude soon, bla, bla, working hard bla, bla, lots of interest bla, bla ...."
Tiburn
Posts: 709
Opinion:No Opinion
Price:1.275
RE: BPC
Mon 21:46
Fair one GK, agree with you - worse communications of any share ive ever been in, literally none.

There are two aspect that allow me to retain some vague remnants of hope

1 - Macquarie did DD before coming on board, saw the case and remain on the team. Surely them leaving at end of contract is RNS ?

2 - Another aspect is knowing our place in the grand scheme of things, if BPC are discussing billion barrel field partnering then the likes of us humble PI are like lint, not something you actively think about, and if noticed, brush away. Let them get on with it, assume matters are progressing.
gkb47
Posts: 937
Opinion:No Opinion
Price:1.275
RE: BPC
Mon 21:21
Sorry we don't do drills we're a Director's lifestyle company - you'll need to contact a proper oil company for that.
Tiburn
Posts: 709
Opinion:No Opinion
Price:1.275
BPC
Mon 19:17
wild cat drill needed to get Majors to buy in, lets have a whip round and fund it

oh wait, we already did
how many millions raised over the years?

Cant we go at this a different way, banging on and on to try and sell something no one is interested in buying

its shallow water, how much for a cheap drill ship or floater?

would a smaller operator be better than big oil, start small, proof of concept one wild cat

I mean come on - adapt, innovate and overcome or park it and move on

I'm frustrated yes, but at least give us a plan B (not that we know fully what "Plan A" is ongoing apparently)
lynthip
Posts: 4,359
Opinion:Strong Buy
Price:1.275
RE: BPC
Mon 17:52
Very good!
Tiburn
Posts: 709
Opinion:No Opinion
Price:1.275
BPC
Mon 16:58
We are the:

Blame Potter Club

but we must:

Be Proactive Chaps

and end this:

Bizarre Protracted Charade
Michaelfleming
Posts: 2,695
Opinion:No Opinion
Price:1.275
Looks
Mon 16:39
Like grand kids ,haveing shares if any money left on them ,long long haul
Parpaing
Posts: 1,065
Opinion:No Opinion
Price:1.275
RE: When?
Mon 16:03
you can call the Media contact which is on the BPC website DD: 020 3757 4983
Mob: 07977 578 153.
I called them last week and posted the info given.
Kev7722
Posts: 276
Opinion:No Opinion
Price:1.275
RE: When?
Mon 14:29
Not sure what the current breakdown of shareholders looks like, but surprised that PI's haven't at least tabled a resolution to have SP removed from office... even if it failed it would be hard for the board not to at least acknowledge their failure to keep the owners of the company informed.
Scsiborg
Posts: 287
Opinion:No Opinion
Price:1.275
When?
Mon 14:05
Who do i have to beg to get some news? There comes a point where this is starting to feel almost rude.
You list your company on AIM and ignore the PI's for HOW LONG?
Just say hello for gods sake!
Tiburn
Posts: 709
Opinion:No Opinion
Price:1.15
BPC
Mon 07:43
Buying Potter Chambertin
gkb47
Posts: 937
Opinion:Hold
Price:1.25
RE: Frustration...
Sun 19:14
And it certainly is the worst of times with the Better Playing the Casino company.
brynjon
Posts: 2,994
Opinion:No Opinion
Price:1.25
Frustration...
Sat 16:51
.can get the better of us at the worst of times.

The simple fact is that we could have all sold at 7p last year but some of us didn't. In fact some of us even bought more on the way up anticipation a deal being brokered.

We are where we are with no more information but no less information.

The company have stated on more that one occasion that the company are still in talks with more than one interested party (whether that includes the interesting major has already been debated to death). The company also state they have enough pennies in the pot to see these talks through. Macquarie are presently still on board. No one has drilled in the areas our licences sit. The board were seemingly unconcerned about renewal of those licences.

To be honest if there was anything to be worried about I would have expected us to be lot less than we were a year ago when there was no concerns about the licences.

Again I reiterate - all to gain, all to lose - high risk versus very high rewards - heat - kitchen - in or out.




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