Member Info for brynjon

Tiburn - valid points and I noticed that the age old concern about the EA was clarified some time ago though now on the website.

Oil revenue will be a saviour to the people of the Bahamas alongside the employment opportunities that will be available.

Of course if P1 is successful and fingers crossed it will be then the opportunities all around will be immense. I have suggested it before that if we are successful with commercial oil then the opportunity to sell the licences on for a decent amount would finance any Uruguayan exploration as well as the T&T but that is just me dreaming.

...in these very odd times - CV19.

Whilst we while(wile) away the time watching the mid price remaining a stubborn 2.7p we can get a little too serious even 4nal about stuff and can misinterpret what is typed on a post here - whether it is because we want to misinterpret it or the lack of punctuation or emotion within the words.

We are without doubt a mix of people from all walks of life and all with vastly different life experiences - so there is always going to be a difference of opinion.

We have folk who :-
1/ believe everything is there in black and white and information on hand offers full clarity.

2/ believe everything is there but cannot see the wood for trees.

3/ believe there is a lot of detailed information though without having clarity.

4/ believe the whole thing is a smoke and mirrors trick.

and the list could go on - the bottom line is we all want what is best for the shareholders - the companies have also re-iterated that point. The issue being we have all heard this before which given some people (me included and I am at 2) who just need some more information.

Last time I checked I was not particularly thick, though I admit there are some things I need assistance with from time to time as I am a practical learner rather than an academic learner.

Whilst we all want a great result from our investment we should all be able to mention anything that is preying on our minds without being deemed a 'snowflake' 'pessemist' 'doom - monger' 'dreamer' 'butt-licker' 'unicorn' 'gullible' 'optimist' etc.

We are all entitled to an opinion just as we are to breathe.

I am sure we will all make the best informed/uninformed decision to vote YES or NO when the time comes. We will all abide by the result whether we like it or not.

It is not for anyone here to pressure a vote either way but it is good to have a healthy debate about what we believe is right or wrong about the deal without it needing to become personal.

I have seen a lot of new posters on the board , some being very vocal about their viewpoint which has riled a few lth as the usual etiquette has been slightly diminished or maybe I was previously wearing my rose tints in the past.

Stay safe, stay friends and stay positive ;@)

1/ you can always crush a beetle - but perhaps not a beatle - an oasis may just be a mirage but you cannot crush an oasis even if it is a mirage because its unreal. Both have their merits when it comes to music.

2/ no-one really understands it and therefore you should not be able to upset anyone with a Jedi view. Therefore a safe religion.

3/ she left home and has her own home without feeling the need to drain my bank account, wheras the 1st one moved back in with the 2 eldest grandkids and see nothing wrong with bleeding me dry.

4/ and the jury is out - but beef all the way.

PoC - I can see a rationale behind the recent acquisiton of Uruguay and the potential of CERP - and certainly I can see the motivation of the BoD - it just lacks a little bit more information and that may just be me not being an oilie or perhaps my secondary education several decades ago did not equip me well enough to read between the lines lol ;@)

As I said I want to believe this is all a positive move - I strangely trust SP though have never met the man - perhaps my concern eminates from another investment which promised production quickly and all of a sudden there were some moves made and several acquisitions before the director disappeared with rumours of dementia and lots of money spent before another knight in shining armour came in and told us he would solve everything and changed the direction completely before the company was and remains suspended. I believe the expression is once bitten twice shy. I may be falling into the shyness side of life. Folk may understand why ;@)

Back to BPC - I will re-iterate I remain a positive soul - I think we all need to be - but the niggle begs me to ask questions rather than to accept everything on face value - 3 decades of not taking everything on face value becomes a habit perhaps, and makes me seem untrusting to an extent.

We are told we have the accessories in storage, we are told we have a contract with Stena, (though last year via the description of the well with Seadrill we could identify if exactly) we have a short time window of December to February and six months to get things very organised. Then we are given an opportunity to obtain the super deluze licence for Uruguay which means we can probably off load the Bahamas for a very tidy sum IF we strike oil. (Happy Days) We will also be an oil producing company via CERP and with money in the bank we will take care of the rest.

It is a fantastical voyage towards making BPC a potentially big player in the new world of oil, but at the moment if feels like I have some first date jitters.

PoC - I think we are in a time when information abounds - some of it false of course, however, I say that we are in a time when information is much easier to disseminate, verbally, electronically and by snail mail.

We are reminded often about things, when appearing too good to be true, to double check before parting with money.

Using that rhetoric I believe we should be asking the questions about why it is such a good venture.

In our instance of course we have already parted with our (in some instances) hard earned cash and should question the motives of the company in the sudden change of trajectory.

That being said I really want to believe we have the finance ready for the drill, along with the contract for the drill and the equipment in storage to complete the task. I have no knowledge that would suggest we are nor drill ready for the December through to February 2021.

I was excited at the prospect of the Uruguary licence, but I do not know enough about CERP and how it will benefit the short term goal of drilling P1.

I am not going to suggest which way I will vote as the voting decision MUST be a personal one - anyone touting a voting decision outside a polling booth could be guilty of, a sometimes difficult to prove offence, undue influence.
Whilst I doubt anyone here is in the vulnerable bracket to be so influenced I will refrain from broadcasting my decision.

All I want is a great result for everyone of us longtermers who have endured more than a decade of jam tomorrow moments.

Stay safe, stay honest and enjoy the ride as I think we will have an exciting few months ahead - my pet crow, who decided to make my lockdown hair its nest told me so. ;@)

Just over 3 weeks until the AGM - got to give a week to allow any postal votes in so got to have the news within a week or 2 at latest.

We will have to spend a couple of weeks tops to remain patient then when that period of patience has been done we have 6 months at least to be even more patient to get the drill bit out of storage.

It will pass quicker than the last 10 years I guarantee it. ;@) Stay safe and out of Leicester it seems.

lallee - it is a great place and the folk I have found to be very friendly. When I visit the annual get together at the distillery the locals are just really pleased to welcome us. Beer and spirits are a great assistance with translation too ha ha.

10% off using code Roodog at checkout

To coin a phrase - there have been various before me - We are all in this together!!

We would be a sad world if we all sang in unity from the same hymn sheet - there is no utopian land to live in and even if there was we would all merely exist.

So let us keep all of our toys in the pram and accept we agree to disagree - with most text we cannot include personal emotions and we can often fall foul of a really funny aside (well in our own minds they can be hilarious) and unintentionally upset one another - but that is life.

In reality there is no harm done (certainly physically) and we should be able to quickly bounce back from someone not agreeing to what we firmly and resolutely believe in.

The simple fact here is we are in the main anonymous and faceless beings so there is no need to fall out - well how can we fall out really as we have made no personal connections to any tangible on a humanly personal element.

So we will have another few days of uncertainty - we know there has been no movement on the mid price for days even when we had the new shares drop in. To me that means nothing but another boring day at the office - nothing really worth discussing until we get this golden nuggets of information from the company.

I have waffled enough and I will say tonight is the last night for 10% off all of my gins at houseofruhr - even better offer if buying the set. Stay safe and look forward to hearing from the company soon.

Jim, well written and to the point.

Whilst I agree with the majority of what you raise - I feel the P1 success or failure should not depend upon whether we merge or takeover CERP.

The BoD are adamant that the primary focus is getting the drill done either in December or early Q1 2021.

We do need to know whether that remains the primary focus - I would hate to think they took their eye off the ball/prize at this late stage.

I am hopefull we will receive some sort of update/reassurances from the company in good time.

In the meantime focussing on bad stuff is not good for the body and mind - hopefully that news will arrive quickly so no-one gets an ulcer or worse.

IK have you got that beef on order yet?

The share options are eye watering to be honest - the more we increase the number of shares in issue makes me believe (IMO) that there has to be some sort of consolidation coming before too long.

They cannot keep increasing the shares in issue the way they are/have been. If they do, we will remain a penny share and of course less of an attractive purchase - there again WTFDIK ;@)

Stay safe all

Glide - I recall many moons ago watching Esther Rantzen's That's Life programme and there were some folk trying to introduce a thing called 'lets' which was basically a bartering trade type of currency where people exchanged goods for services etc.

Would the world accept that in this day and age? It could be like a rekindling of 'The Good Life' ;@)

RNS Number : 1453R
Bahamas Petroleum Company PLC
26 June 2020

..the arguments of good or bad deal will keep bubbling away on opinions which are poles apart.

Let us not be getting personal, particulalry the young guns in here who do not know the posting history of some of the long termers here.

I see valid arguements on both side - however - until that update comes along which informs us all what the heck is going on then we are blind. I am not keen on being led blind and whilst I may have made my mind up on the little I know, I would rather make that decision having been educated by means of an update.

Stay safe all - I do look forward to hearing this week about the proposed deal(s) in order we can all move along nicely to a slap up meal of beef and horseradish sarnies washed down with copius bottles of Amarone courtesy of IK. ;@)

Jim - FWIW - I still want to know more before I put all of my eggs in the basket - it has been a bit of a shock to the system with Uruguay and in quick successtion CERP when all we really wanted to know was when the drill bit will start spinning.

That said there has been a couple of subs on the sidelines warming up with the recent holdings RNS which was perhaps a positive - BUT we still need to know a bit more - Not a lot has been discussed about the potential of Uruguay and the massive potential there - we will need boots on the ground, people who are trained and up to speed and it appears there are a few skilled staff at CERP who may or may not be able to be quickly pivoted there. All of course speculation pending the overdue information from the company.

Stay safe all - A new day will dawn - the weather outside my window has been as stormy as this board over the weekend with thunder/lightning storms, almost gale force winds and now the sun is cracking the flags.

Have a great week everyone and let's play nice.

I think the sooner the company gets the information out to the shareholders the better.

The sudden change in direction of the company is what is creating the uncertainty THOUGH that said the company has not changed direction as their stated number 1 aim is to get P1 sorted ASAP.

The addition of Uruguay is seemingly not a problem for anyone and I have not heard anything to the contrary.

The merger/takeover with CERP was very much a surprise to everyone and perhaps attention, certainly of shareholders, is focussed upon this.
Management are remaining firm in their resolution to get the drill done as can be seen in the latest RNS :-

As I have discussed in recent days, we are operationally ready to begin the drilling of the Perseverance #1 well, targeting 0.77 billion barrels of oil. With the signing of an unconditional rig contract, the Company has confirmed a specific window between 15 December 2020 and 1 February 2021 in which drilling will commence. We eagerly await the start of this drilling programme and I look forward to updating shareholders on our progress in the near future."

As for the Merger/Takeover

Implementation by way of Takeover Offer

BPC reserves the right to elect to implement the Merger by way of a Takeover Offer, subject to the Panel's consent and to the terms of the Co-operation Agreement. In such event, such Takeover Offer will be implemented on the same terms, so far as applicable, as those which would apply to the Scheme subject to appropriate amendments, including (without limitation) an acceptance condition set at 90 per cent. or such other percentage (being more than 50 per cent.) as BPC may in accordance with the provisions of the Co-operation Agreement decide (subject to the Panel's consent): (i) in nominal value of the shares to which such Takeover Offer relates; and (ii) of the voting rights attaching to those shares.

Whilst I cannot agree with 'vomit' per se. The board is currently awash with views which are poles apart.

Not knowing any ocf the posters personally can ANYTHING be taken for truth?

Which is why your comment about research is key to the whole thing.

LTH have been through the mill on numerous occasions so when good news comes along there will always be a mood of sceptism - which is different fro negativity - as we have had major ulifting news in the past only for what is left of a much shortened rug,to be pulled from beneath out feet.

So for the relative new comers and the brand new presently, this is how some people roll around here.

I have lost count of the times I have counted my eggs in my basket.

We do need a further update on the deal before the motions are passed/killed - I am sure the board are aware of this and the silence is quite deafening. Perhaps there is something stopping them from letting the cat out of the bag.

Have a great weekend folks. Stay safe - keep off them beaches lol ;@)

Popped my head in today and nothing much as far as excitement with regards to the SP. It does seem that we are getting back into a polite board which is always nice to see. Surpised by the news of penson fund investing, seems like the suggestion of a whisper a couple of days ago was correct and that poster perhaps vindicated.

I look forward to seeing if the BoD surprise us with something for us to dwell over the weekend though volume traded would suggest otherwise. Who knows of course as they managed to sneak the CERP merger under our noses.

Stay safe - keep off the beaches and enjoy the weekend.

Cheers - Bryn ;@)

There may be - there might not be - can we put that to bed and move on chaps.

For one I do look forward to whatever news is due and in good time to make a decision on the vote. It has to arrive quite soon.

Stay safe all and enjoy the heatwave for those in the UK.

Towards the end of the latest RNS it shows the options still available and the timetable to take up the options and at what price. It does not copy and paste very well so perhaps tale a look at the RNS - which also gives holdings:-

Interests held as options by directors and connected advisers of Bahamas Petroleum Company plc under its share plans:



Name

Ordinary Shares (under option or award)

Expiry Date

Exercise Price (per share)

Simon Potter

20,000,000

31-Oct-24

2.22p

15,000,000

31-Oct-24

2.40p

25,000,000

31-Oct-24

2.80p

Total

60,000,000

William Schrader

1,500,000

31-Oct-24

2.22p

750,000

31-Oct-24

2.40p

750,000

31-Oct-24

2.80p

Total

3,000,000

Adrian Collins

750,000

31-Oct-24

2.22p

375,000

31-Oct-24

2.40p

375,000

31-Oct-24

2.80p

Total

1,500,000

Ross McDonald

750,000

31-Oct-24

2.22p

375,000

31-Oct-24

2.40p

375,000

31-Oct-24

2.80p

Total

1,500,000

James Smith

750,000

31-Oct-24

2.22p

375,000

31-Oct-24

2.40p

375,000

31-Oct-24

2.80p

Total

1,500,000

Shore Capital Stockbrokers Limited

7,200,000

17-Sep-21

1.60p

13,157,073

11-Nov-21

2.00p

Total

20,357,073

Strand Hanson Limited

5,000,000

05-Nov-21

2.00p