Member Info for ART123

Considering the m/cap peaked at about GBP112M last year when the SP hit 38p with the then 297 million shares in issue then this is not overpriced considering MATD now are funded for 6 drills. Back then they had no funds at all. The 38p would be 17p now taking into account the new shares in issue.

ASX closed overnight so we get a rise here. I swear if this wasn't dual-listed the SP would be about 4p/5p by now.

Same thing happened in May 2017. SP was about 1.25p and the placing was at 0.80p. There even was an exactly the same "Statement re Media Speculation".

Better add: " If testing proves to be successful..." and "If testing determines that this section can support commercial flow rates" far too many "ifs" for this to be commercial. AJMO.

Looks like a lot of fancy words that are being used to cover up a duster here. "possible testing and/or sidetrack" "As is normal in this basin, the determination of effectiveness of pay from the wireline log analyses is complicated due to the complex mineralogy of the volcanic reservoir, and the current workflow is to determine the potential for testing this section when the test rig is on the licence" "In the shallower primary Springhill target, whilst the well encountered gas shows at the top of the section and 57m of high quality reservoir, the sequence is believed to be effectively water bearing at this location."

I just love reading this board - all the different opinions and interpretations, all the arguing, the super-ramping and confidence and the caution and doubt. Glad I'm not holding here as no-one really has a clue whether to hold or to sell.

Could take months, could take a year, could take longer. But knowing the speed the Bahamian Govt work it certainly won't be quick.

Unfortunately this all seems to be fizzling out now - despite the good posts, etc. Volume is low and decreasing daily and there is not much more that can happen to create much interest here. I suppose with a 3 month exclusivity period and seeing as we are only 1 month into this and the chance of a further 3 month extension then no-one is expecting anything to happen very soon. Also the Environmental Authorisation is likely to turn into a long drawn out affair - quote form RNS dated 27th April: "The application for Environmental Authorisation has been submitted in the prescribed form as previously directed by the Ministry of Environment and Housing, and advised by the Bahamas Environment, Science and Technology Commission (the BEST Commission), in accordance with Regulation 3 (1) of the Petroleum (Offshore Environmental Protection and Pollution Control) Regulations 2016 ("the Regulations"), part of the modernised and strengthened requirements governing the petroleum industry in The Bahamas, which took effect in July 2016. Environmental Authorisation represents the first step in commencing offshore field activity under the Regulations. We look forward to working collaboratively with the Ministry of Environment and Housing and the BEST Commission as we discuss our application, so that together we can prepare for safe and environmentally responsible operations." This doesn't make it sound like a very fast procedure to me. ATB

I think it's time these clowns got on with just one project instead of talking of having even more on the go.

This has got to re-rate now. 5%/10% a day is fine. 4/5 days at 10% a day = 5p shareprice.

Sonofthebull - please read: 1st paragraph from the Confidentiality and Exclusivity Agreement (the "Agreement") dated 3rd May 2018. Bahamas Petroleum Company plc, the oil and gas exploration company with significant prospective resources in licences in The Commonwealth of The Bahamas, is pleased to announce that it has entered into a Confidentiality and Exclusivity Agreement with a major international oil company (the "Counterparty") to conclude a detailed technical evaluation of the Company's licences in The Bahamas, and at the same time seek to develop a commercial framework for a potential transaction. IT QUITE CLEARLY SAYS WITH A MAJOR INTERNATIONAL OIL COMPANY.

Looks like this is going to move back up. Bit of resistance at the GBP50 million m/cap level. Over a month now since the exclusivity agreement was announced. Nearly all buys today, albeit on lower volume.

Can anyone tell me what name and ticker REM are trading under these days - that's assuming they still exist. Cheers.

Looks like this is just taking a breather after the last 2 days of rises. Maybe a couple of days of consolidation and then back up again.

The point I'm making is that for people to post that BPC haven't got or couldn't raise the funds to pay for their share of the drill costs is stupid. If the m/cap rises enough they could raise any amount that might be required.

Raising funds is always relative to the m/cap, funding requirements (ie what the funds are for) and how the market sees the share (which is often reflected in the shareprice). For example back in 2011 BPC raised GBP45.6 Million at 18.75p. The m/cap before the placing peaked at GBP200 Million. There were 987M shares prior to the placing and a further 243M were issued but that was only 24.6% dilution. Everything is relative. Assuming this agreement leads to a farm out/JV and the BPC shareprice rises to a similar figure to 2011 - say GBP200M again which is very possible - then it will not be a big deal or huge dilution for BPC to raise their share of drill costs. For now the SP seems to be stuck on a GBP50 Million m/cap but that should soon fall.

4 weeks since the Exclusivity Agreement was announced. The SP was higher the day after the announcement than it is today so maybe it's time the market took this more seriously and factored in the potential here. Here's a reminder of the potential here: https://www.investegate.co.uk/bahamas-petroleum-co--bpc-/rns/company-update---moyes---co--technical-audit/201712200700038608Z/

3.221p X 1555 million shares just happens to be a m/cap of GBP 50 million.

CLNR cannot even get a farm in partner for their existing licences, which incidentally have been dragging on for several years without any success, so any talk of a buy out is just delusional. Absolute nonsense with zero credibility.

Yes but no operators seem to want to pay for protection against well bashing. If any did they would be paying for it and using the technology already. DTU is dead. No-one wants to use it - and funnily enough today we are finally told that it is also far too expensive to be used anyway. And what do we get - another fanciful idea to try and bring down the costs - of something no-one wants to use anyway. HNR couldn't even give this away.