On January 6 Bahamas Petroleum (BPC) announced that it was raising £2 million at 2p from a Bahamas based fund. On January 30th it issued a ramptastic roadmap to drilling RNS and the shares rocketed. What more did oily spiv Jerry Keen and his colleagues at broker Shore Cap need to whir into action.
Shore cap’s target was to raise £10 million at 2.75p. Given tat the shares are now trading at c3.75p surely the oily one could manage that? It seems not. The placing was officially pulled last night.
Perhaps, in light of that, Bahamas might care to update us all on its financing options and requirements going forward?
My Sipp average is 147. A few weeks ago I Sold half my shares at 60 p and was going to wait for 55 to buy back cheaper , got bored waiting so bought some nmc at 1550 then it dropped to 1200 the next day. Took me a few weeks waiting to get 1550 again just to get even again and missed the drop to 46 p. Bought the shares back on Friday for 53.5. Moral of the story is if your going to trade then stay in cash and be patient