Member Info for brynjon

Vigenere - drop an email to bmrwshares dot pool at gmail dot com

You will also need to register for an account with Shutterfly - but first drop them an email above and they will tell you what you need.

the website is bmrwatch dot Shutterfly dot com You will not see much on the holding page but once you register with Shutterfly you can log in and join the various discussions and see what has already taken place.

somm - I am sure you have answered all of those questions in your many previous posts telling the board how it is, or were you merely second guessing in them? ;@)

An AGM merely focusses on the Agenda items. Whilst there may be a Q & A session it is not part of the Official Agenda.

The Agenda items are pretty basic

To allow your members to hear reports from the Committee on the achievements and work of your group over the year.
To elect the Committee for the next year.
To make any changes to the constitution.

And that is it. You will hear the reports of the committee members and then the elections and any proposals to amend the constitution.

It is not and never has been a place for a formal Q & A session.

Not many buys Latino - when the numbers get to ???,000,000 in blue, will we need to be getting a bit excited. Lol.

A project of the prospective magnitude suggested to be as big as the Arabian Gulf would perhaps need a bit of a hand bearing in mind oil is destined for the junk yard if politicians are to be believed.

So a major going it alone will see x number of years before it would need to abandon the field.

If several majors joined forces they could exploit the massive fields (suggested) in time for them all to make a decent profit.

The above is merely a speculation. What goes on in my head is usually my own business but today as I am likely to be off the board until next week I thought I might share it instead.

Read the following sentence then make up your own mind that the major walked away:-

"it will not further extend the exclusive nature of negotiations"

It does not say they have ended the negotiations or walked away.

It says it would not extend the "exclusive nature" of the previous negotiations.

In plain English it suggests they are still negotiating but not as an exclusive single unit.

Shoot me down but that is what it suggests.

Spike the wording - as I have previously posted - says "it will not further extend the exclusive nature of negotiations"

EXCLUSIVE NATURE being the key phrase. That purely suggests they do not need exclusivity now.

There could be numerous reasons for that of course, and each and every poster will have their own opinion.

Whilst opinions are personal folks - let us try and criticise the post and not the poster. That is the usual etiquette.

Hi Neptunes - whilst we all have different/similar opinions as to what is happening with the NDA major - I would agree that had they still been interested in being the sole partner then yes, negotiations would normally be done behind closed doors.

Referring back to my earlier post - the company (BPC) have not issued a statement suggesting there is no reason for the price to plummet so there is a reason for differing opinions to come to the fore. We can perhaps assume whilst the negotiations are no longer exclusive that they are either uninterested in being the sole partner and are willing to speak inclusively, which to me would be the preferred understanding of the sentence within the RNS.

(There is no precise evidence to say that or that they have walked - that is one of the matters of opinion) The wording is quite precise but left open for interpretation "it will not further extend the *exclusive nature* of negotiations".

That bit I starred - exclusive nature - to my mind suggests only that they no longer need that exclusivity and that could be for many reasons we could all debate to death.

The fact the company did not release the "I don't know why the price plummeted' is to me a suggestion that the company realises talks will take a while.

Whether the exclusive major made an offer or not is rather irrelevant now we are where we are.

What needs to happen is the company to release the RNS which puts everyone in the picture once and for all.

I'm in for a lot (relatively speaking of course as 'my' lot could be a lot smaller/larger than others depending upon personal wealth) and my stop loss that I had set some time ago took out 300,000 shares from my holding which I managed to buy back a fraction cheaper which was the only positive from the whole thing.

Anyway off to work - stay safe all.

Is the wording in the RNS -

"Bahamas wishes to advise that it has received notice from the major international oil company that entered into an exclusivity agreement with the Company, effective 1 May 2018 that it will not further extend the exclusive nature of negotiations beyond 31 August 2018"

Now to further exploit my cut and paste skills:-

Bahamas Petroleum in conjunction with its adviser Macquarie Bank, has therefore recommenced broader, asset-based discussions with third parties in addition to those non-asset based financing discussions already ongoing for the funding of its first exploration well.

*I read this as the company will recommence discussions with third parties put on hold due to the exclusivity talks.
N.B, I garner that due to the exact wording within the RNS.

To-date the Company has received US$1 million in exclusivity payments. No further amounts will be due or payable given the exclusivity will not be extended.

*No further amount payable - could be read that the NDA Major is still within talks but alongside other third parties.

N.B. Merely speculation

We could of course just wait and see what the remainder of this month brings us. In between times feel free to carry on.

Stay safe all ;@)

Neptunes - I will concur that the company would need to issue RNS if there was no significant reason for the mighty fall in the SP as companies do when there is no significant reason for a rise.

On 10th July BPC issued an RNS stating market is already in possession of pertinent information.
RNS Number : 1950U

Whilst the terminology 'walked' is not there certainly the cessation of exclusivity was.

The RNS states "BPC have received notice from the major that it will not further extend the (((exclusive nature of negotiations))) beyond 31 August 2018."

You will note I have added open and closed brackets - to me this phrase does not say they have walked, merely the nature of the talks no longer needs to be exclusive which lends to the argument that there COULD be combined discussions which would not need to be notified by RNS.

That being said I repeat that we did not get a notification when the price plummeted.

All is still to play for - the figures from Moyes suggest the fields show a potentially humoungous find, Macquaire are seemingly still in the mix. Only time will tell.

Not sure how you came to the below conclusion:-

"imo it would confirm what I've been saying i.e. the Super Major that walked didn't think there was enough commercial oil there to take the risk on"

The Moyes report was suggesting multi billion barrels there. - OF COURSE that is estimated on seismic and other data - so NOT PROVEN - but I do think the above is a thought pulled out of thin air.

We do not know the reason the major withdrew from exclusivity - they have a NDA so we may never know.

Here is a theory I have just pulled out of thin air - The major ere forced to withdraw because it could not guarantee the resources to take on such a large project - a project the size of the Arabian Gulf fields.

Now that remains a theory - one which I will not place a bet on.

What I am saying though is, nobody but those involved in the negotiations know the reason they ended the exclusivity talks.

We are all left second guessing and seemingly in major disagreement with each other leaving this bulletin board in disarray - a bit like it was before the talks were announced to be honest.

We are a week away from the AGM, some expect/want significant news, whilst others expect/want the company to be in the death throes.

I for one would be happy for news positive or negative before the AGM, if only to give some semblance of order here.

Trek - I was referring to the content on the board rather than the position of the company ;@)

Neptune - I do not expect big things from the AGM, however, it would get rid of a timeline mentioned many times over.

Hopefully we will have some sort of update before then and then we can resume some kind of normality.

If not, I think it would be safe to bury my feet in the sand somewhere warm for a few months.

Far too much mud flinging going on which as BBF alluded to earlier.

Will be glad to see the 14th September and understand a little more about WTF is actually going on.

Stay safe wherever you are. Best regards - B

are untruths - nobody really knows anyone else on here unless they do actually know each other.

So whilst we have traders who strike it lucky on almost every deal we have others who have bought in on the lowest of lows or are waiting for a high or a low.

Best thing to do is not pay a great deal of heed to people one has not had the pleasure/displeasure to meet.

As far as BPC is concerned - we have had the sad news that the exclusive talks are no longer exclusive and therefore the company will receive no more that the $1,000,000 it already has. FACT

The data and the reading of has not changed as per the Moyes Report FACT

Some years ago there was oil found under the seabed in the Bahamas FACT
(Though not economically viable at the time.)

In the close proximity there have been major oil finds FACT

BPC own the licences to what have been described as showing massive potential in the multi billion barrels FACT.

We have lots of folk giving their honest/humble opinions which are based upon interpretation of the facts but please do not get carried away by the positive or the negative slant these posts take.

Do your own research, never invest what you cannot afford to lose, if you want to bank a profit - do so - as you can lose it easier than you made it as we saw very recently.

Have a great week all - still all to win or lose here. Let us hope the AGM is a positive one.

Scully - life is too short to get bogged down with negativity.

Whilst we MUST look at all angles and not become too blinkered those with an alternative view are able to post freely.

Getting wound up over comments is just a waste of time and energy.

Let's see what the new week/month brings.

Too many opinions are written as though there is a factual basis of knowledge rather than personal opinion.

Of course that is from both side of the arguments. Since last week we have all been in a state of flux - a lot of folk are a bit too tetchy about stuff - a lot of folk are out of pocket, though I am quite sure there have been winners instead.

Until we get some news from the company giving a little bit of meat on the bone we continue to bob along in the sea of uncertainty - Hopefully some news will come next week even if only to settle things down and reduce the handbags.

At least we can have a weekend off the speculation. Good luck all.

Neptune I did not believe I alluded to you posting all day. More the fact that the majority of your recent posting across all the boards appears to be negative. Whilst I am no expert in shares I am less of an expert in other things. Not one for **** taking but certainly not a lover of half the ****** that gets posted on here and as far as the handbags I had enough of that in my previous job.

LMAO Amtech - Brahma Ancona

Hawks - sadly that is knew. Had he still been around we may well have come good well before now.