Member Info for bynari

Director Deals - Bahamas Petroleum Company PLC (BPC)
9 October 2020 | 06:02am
StockMarketWire.com - Simon Potter, Chief Executive Officer, received via a placing 7,751,938 shares in the company on the 8th October 2020 at a price of £0.02. The Director now holds 12,551,938 shares.

Story provided by StockMarketWire.com

Director deals data provided by www.sharesmagazine.co.uk

gerflees your link is for 2011
Today's copy
Investors Chronicle 9th Sept - 15th Oct 2020 on Bahamas Petroleum
https://tinyurl.com/y6neaqm3

13.31 pm Thursday 8th Sept

Simon Potter, Chief Executive Officer of Bahamas Petroleum BPC  provides a comprehensive update on all their operations

BPC is a Caribbean and Atlantic margin focused oil and gas company, with a range of exploration, appraisal, development
and production assets and licences located offshore in the waters of The Bahamas and Uruguay, and onshore in 
Trinidad & Tobago, and Suriname.

Link : Interview starts at 17 minutes 12 seconds
https://tinyurl.com/y3lstp2s

Start of another long day for

Rossannan...our new BPC ex-CERP Share Troll

he/she posts persistent negative comments about BPC share on LSE chat board

This type of troll differs from regular trolls in that instead of attacking individuals, they directly target shareholders. They generally work in co-ordinated groups, have multiple identities and may be paid by a group of traders or a cartel.

Thursday 01 October 2020 RNS

BPC investment options to Stena Drilling prior to 1 December 2020

"Drill for equity" type arrangements: Another common financing structure in the oil and gas industry is a "drill for equity" type arrangement, whereby major service providers commute part of their fees into an ownership interest in the underlying project. Several such options may be available"e to the Company. For example, as previously announced, in the contract for the provision of a drilling rig with Stena Drilling, BPC granted several investment options to Stena Drilling such that, prior to 1 December 2020, Stena Drilling has the right (but not the obligation, and there can be no assurance that Stena Drilling will exercise the right, all or in part) to (i) subscribe for up to $10 million of new equity in BPC on the same terms and conditions as would apply in any BPC capital raising, or (ii) farm-in to the BPC southern licences on the basis of $10 million for a 10% non-operated working interest. If Stena Drilling were to seek to take up either of these investment options, the consideration could be satisfied either in cash or by way of offset against amounts payable by BPC under the Rig Contact. Similar "drill for equity" type arrangements may be possible in respect of drilling operations elsewhere in the BPC portfolio.

To the extent that anyone or a combination of the above funding alternatives are successfully concluded on terms acceptable to the Company, the amount of capital available to the Company would likely materially increase and would be additive to existing funding sources. Such funding could be applied towards eliminating reliance on convertible note funding instruments entirely, and/or expanding/extending the current work programme, or alternatively, proceeds could be applied to a much broader work programme across the Company's asset base.

Thank you CoMan for your information on here, it's so invaluable to have someone who is experienced & been and done it so to speak. Not just that but to take time out on our BPC chat board and share info...so thank you!

If you have just arrived here or missed it, is, in my opinion, the best-detailed description
available given by CEO Simon Potter & presented in London at Oil Capital Conference
he explains why drill Perseverance1? https://tinyurl.com/yyn8se3r

Proactive weekly oil and gas highlights: Bahamas Petroleum
09:00 Sat 03 Oct 2020
Bahamas Petroleum Company PLC (LON: BPC) raised £9.5mln in an institutional share placing and said it will spud the Perseverance-1 well before Christmas.
It also updated investors on license administration in Trinidad, to December 31.
The extension is intended to give Heritage time to obtain requisite consents from the Ministry of Energy and Energy Industries for the implementation of a new 10-year Enhanced Production Sharing Contract (EPSC) agreement. BPC noted that it has been assured that the signing of the EPSC will come in the near future.
https://tinyurl.com/y2ecgzmk

30th Sept 2020 RNS 4.42 pm

The Placing will be conducted by way of an accelerated book-building process (the "Bookbuild") which will be launched with immediate effect following this announcement in accordance with the terms and conditions set out in Appendix I. The Placing Shares are not being made available to the public. It is envisaged that the Bookbuild will close no later than 7.30 a.m. GMT tomorrow, 1 October 2020.

Placing link
https://tinyurl.com/ycing lirbba2
________________________

Accelerated bookbuild explained

With an accelerated bookbuild, the offer period is open for only one or two days and with little to no marketing. In other words, the time between pricing and issuance is 48 hours or less. A bookbuild that is accelerated is frequently implemented overnight, with the issuing company contacting a number of investment banks that can serve as underwriters on the evening prior to the intended placement. The issuer solicits bids in an auction-type process and awards the underwriting contract to the bank that commits to the highest back stop price. The underwriter submits the proposal with the price range to institutional investors. In effect, placement with investors happens overnight with the security pricing occurring most often within 24 to 48 hours.

The share of accelerated bookbuilds as a percentage of overall offering numbers has dramatically increased in the last couple of years. This is primarily because they allow established institutions to raise capital quickly by dividing up the market risk between the issuing firm or shareholder and the underwriting institution. That said, an accelerated bookbuild is not exempt from risk because the time available for due diligence of an offering is reduced. Hence, lead managers must rely on experience to quickly assess the offering initially and trust the market during the subsequent stage, in which they receive bids from top-tier financial institutions, to determine the accurate price.

KEY POINTS
Accelerated book building is a form of offering in which companies offer shares during a very small time window, generally lasting between 24 hours to 48 hours, to institutional investors.
?The share of accelerated bookbuilds has increased over the years because they allow firms to raise capital quickly while dividing risk between them and underwriters.

yes, Jim, you are correct a no brainer for Stena I would have thought ...we will see

BPC funding explained by management in detail 17th August 2020
https://tinyurl.com/y2uxl7os

IK, always find your posts exceptional and fascinating you are one helluva guy. I think your life story should be in a book.

Bahamas Petroleum on the front page Saturday 26th 2020
https://tinyurl.com/y49zs5tb

25 September 2020

Bahamas Petroleum- Dreaming of a Black Christmas

BPC has announced that the company has received formal notification from Stena Drilling that they have nominated the Stena IceMAX as the rig for drilling the Perseverance #1 drilling campaign.

The notification also stated that the start of the contracted window, the 15th December 2020, as the approximate time of the drill ship arriving in the field, with an associated anticipated well spud date some 3 – 4 days later once the rig is on station.

The well is targeting recoverable P50 oil resources of 0.77bn barrels with an upside of 1.44bn barrels. The company say that ‘given confirmation of the anticipated arrival time for the IceMAX in the field, project implementation, previously defined and ongoing in March 2020 prior to the Covid-19 related postponement of work, will now be reactivated to align with a spud in approximately 3 months’.

Simon Potter, Chief Executive Officer of BPC, said:

“In March 2020, the Company was within weeks of commencing the drilling of the Perseverance #1 well when compelled to defer operations due to the anticipated impacts of the Covid-19 pandemic. As might be expected when such an advanced well plan is halted so close to final implementation, major elements were already in train or sufficiently well established such that reactivation is a relatively straightforward matter. With the clarity of the anticipated delivery date of the Stena IceMAX into the field this work can now be reactivated against a detailed timetable and progressed. I very much look forward to updating shareholders in the coming months as we get closer to drilling.”

This is at long last the start of a process that patient BPC shareholders have been waiting for in some cases for many years. But the difference now is that with dynamic new management, sound funding and a balanced portfolio in place in case of disappointment, shareholders can dream of a huge 100% owned success without the downside meaning total misery. Let battle commence…https://tinyurl.com/y3fy4egj

Stena picks IceMAX drillship for Bahamas Petroleum well

25th Sept 2020
Bahamas Petroleum Company (BPC) said today that Stena Drilling, of Aberdeen, had nominated a drillship for its Covid-delayed Perseverance well.

London-listed BPC said the Stena IceMAX vessel would start drilling the well in mid-December, targeting almost 800 million barrels of oil.

The firm had to postpone the work earlier this year due to the Covid-19 pandemic.

Announcing the contract award in May, BPC said the terms of the Stena deal meant it could lower the cost estimate by 15% for the well.

It said total payments to Stena would range between $8m and $11m.

BPC chief executive Simon Potter said: “In March 2020, the Company was within weeks of commencing the drilling of the Perseverance #1 well when compelled to defer operations due to the anticipated impacts of the Covid-19 pandemic.

“As might be expected when such an advanced well plan is halted so close to final implementation, major elements were already in train or sufficiently well-established such that reactivation is a relatively straightforward matter.

“With the clarity of the anticipated delivery date of the Stena IceMAX into the field this work can now be reactivated against a detailed timetable and progressed.

“I very much look forward to updating shareholders in the coming months as we get closer to drilling.”

https://tinyurl.com/y3pgfuxf

PM relaxes rules on more islands Grand Bahama Eleven islands to resume commercial and social activities

23rd Sept 2020  -  NASSAU, BAHAMAS

Prime Minister Dr Hubert Minnis has announced the resumption of commercial and social activities on
11 more islands, excluding New Providence. Among relaxed measures include: the allowance of weddings
and funerals to be held in religious institutions, as well as the resumptions of approved gym facilities on the
islands. According to the prime minister, commercial and social activities may resume on Andros, Acklins,, 
Long Cay, the Berry Islands,Grand Bahama, Inagua and Mayaguana with physical distancing and mask-wearing
protocols in place.

A curfew has been discontinued for Harbour Island, Long Island, Ragged Island, Rum Cay, San Salvador 
and Spanish Wells.

As The Bahamas furthers its reopening and eases restrictions, the prime minister encouraged residents to
follow all health protocols, stressing that the most effective means to mitigate the spread of the virus is
wearing a mask and social distancing.

He called facial masks an “anti-viral scud missile” against the virus, adding that some health professionals
have indicated “the mask is just as effective as the vaccine”.

https://tinyurl.com/y67lpwhs

September 23, 2020

Central Bank of The Bahamas puts the country’s debt at $9.5 billion this fiscal year

NASSAU, BAHAMAS — The government will soon introduce a unit that will specifically look at addressing
the management of the country’s debt, Deputy Prime Minister and Minister of Finance K Peter Turnquest said

https://tinyurl.com/y5ts4x7v

rossannan...troll

clearly another BPC troll...ex CERP troll... the question is who pays you?

You are quite clearly hard at work on here I just looked at your history and clearly a BPC troll

rossannan...you are filtered and so are your loaded questions...goodbye

Leo Koot only a cheap salesman?

Goldman Sachs is bullish on oil, expecting the market to be in a deficit of around 3 million barrels per day (bpd) by the fourth quarter and Brent Crude prices to recover to $49 a barrel by the end of this year, from $43 early on Friday.
According to a new report from Goldman analysts, carried by Reuters, the recent floating storage of oil is more "transient inventory allocation dynamics" instead of a signal of a new glut.
"We estimate that the oil market remains in deficit with speculative positioning now at too low levels," Goldman Sachs said, keeping its Brent Crude target at $49 by end-2020 and $65 by the third quarter of 2021.
Earlier this month, Goldman Sachs forecast Brent Crude to reach $65 a barrel in the third quarter of 2021, although it could end next year lower, at $58 a barrel.
Goldman Sachs also expects WTI Crude to rally to $55.88 a barrel by the third quarter of 2021, up from $51.38 a barrel in earlier forecasts.
https://tinyurl.com/y4ehh4e2

Latest Sat 2.24pm
Stena Icemax Las Palmas, alongside the harbour.
https://www.screencast.com/t/m7FF3Eyp2