Member Info for GarryGraham

ZagEgypt : "I am like a broken record on here, if you don't like it please block or don't read.
It's going nowhere until RNS stating current finances and status of T&T. I am not bashing the stock, it doesn't need my help for that, just the growing group who are spouting nonsense". You are not a broken record my friend you talk sense. You and I are both investors here but because we add caution and dont go on a mad ramping melee based on pure conjecture and if, buts and maybe's we are castigated. I know exactly what you are saying in that in your opinion the stock will rise only on succcessful results issued in a RNS. I totally agree with you. GG

Harry Off the Dock - " If and its a big if ". Just because a company that holds a license is seeking a farm-in partner or a company engages the service of a third party to seek a farm-in partner does not for one minute mean that is going to happen. People have to be realistic on this BB. Despite what some people say this BB does NOT affect the share price. The only things that affect the share price are results and successful results confirmed by an RNS.

Petrodollar - Still waiting for this breakout !! I don't know what is going to come first, the complete end of the covid crisis or the BPC breakout. My money is on the former.

Tuckman -"Then if I get my money back I will sprint away from here as fast as I can and then be free from this journey. It’s been a blast and lessons learned". Absolutely right mate. 100% agree.

London Whale -Holeee**** people have lost their minds on here ???????
I concur totally. Sad but true. Its all down to the results and at the moment no positive results have been announced. People on here need to get a grip. Nothing positive has actually been announced. No commercial oil quantities were found in the Bahamas despite paying out $120m in research. No JV or farm in has been agreed for P2 or announced to the best of my knowledge. Potter said they have given a contract to an introducer to find a major for a farm in. That's reassuring I'll really put my mortgage on that happening then. I've just given a contract to a marketing company to get me a load of new clients but It doesn't mean they are going to be successful and if my specifications were ridiculous they probably wouldn't find any new clients but I would still have to pay them. BPC hasnt drilled a drop of oil in 15 years and a load of people on here are expecting an increased production of sevenfold as a certainty at the cerp assets. I'm not saying BPC is going to be unsuccessful and I am not deramping the share price as the management team don't need my help in that but let us get a sense of realism here. Potter and Uliel's track record is hardly inspiring to date, is it. If you don't believe me take a look at the share price on your screen and see what the Markets make of it. Time for Positive results and the management team to start delivering to shareholders. If not, they need to find suitable employment elsewhere. GG

Everyone on here can post projections or opinions but its all down to results. Everything is down to results. Sooner or late the crunch will come, its either great results from Cerp wells or bust. Simple as that. GG

CERP 84 - Gary, I share many of your frustrations and have vented off on this BB on a few occasions,, particularly around the poor funding arrangements and CERP merger, but I'm not sure what you are hoping to gain by continually berating the BOD?. In my opinion we need to give them opportunity to implement their contingency plan in the event of a non commercial p1 result, which I'm sure they have. The new couple of months will be key. Here's hoping for some positive news.
CERP 84 - Totally agree with you. Ive said my peace. Looking forward to good results as well.

Jono44 - Potter has done nothing but feather his own bed. His one saving grace was hoodwinking Leo Koot into giving his company for nothing. I also believe Eytan Uliel and the CFO should resign. The reasons are simple. 1. Potter has brought no shareholder value under his tenure, lacks credibility in my opinion, and has drilled one well in 15 years which was not a commercial success. 2. Eytan Uliel should resign as the commercial director as his commercial deals negotiated I assume by him, have been nothing short of disastrous. The timing of the deals has been rank awful and the only beneficiaries have been the finance companies. 3. The Chief Financial officer should resign as it is obvious his financial reporting has not been of high caliber. I have a very strong feeling the company doesn't have a strong grip on its financial position and I really am being kind here, otherwise, it would not continually state those words "fully funded" so often in its RNS and apply for continual dilution at the expense of the share price. In football terms, we don't have Pep Guardiola in charge more like Graham Souness. Can talk the talk all day at presentations but when it comes to achieving results is relegation fodder. Anyone think any differently look at the share price staring at you right now. All in my own opinion. I respect all opinions. I am still invested at an 80% loss. GG.

Ibiza 28 - Admire your optimism mate and would love it to materialize but its never going to happen, it has lots of flaws. namely, I don't think for a minute there are 28bn barrels of oil in the Bahamas. P1 has just been plugged and I would be amazed if there would be any further drilling in the Bahamas or any will ever will take place in the licenses we hold. I see no reason why a major could be bothered either politically, financially, ethically or any other reason to get involved in a drill in this region. 1. The Bahamas government is a pain in the ass to deal with and would just be a hindrance to a major. Even the Prime Minister said he was not a fan of drilling despite possible billions in oil revenues. 2. The environmentalists and the ethical repercussions to the name of the oil major would be a deterrent alone. 3. Financially - why would an oil major drill in an area where oil has never been commercially discovered previously. There's been a few players who have looked at this region but if there was something there the licenses would not have been snapped up by BPC. As for a farm in why not just buy BPC it's worth **** all! I think however hard the pill is to swallow as shareholders we have to be realistic and recognize this is a duster and a white elephant. Does anyone think for a minute Leo Koot would have left if the P1 would have been commercially successful or a farm in was in the pipeline. Leo knew it was a flop and could not get out of the company quick enough and he is no fool. The only hope is that Leo's old oilfields can be turned around and we can see the SP go to at least 1.5p and we can all get a tiny bit back in this dog of a share if it rises. It is a poorly run company and a dog of a share to hold.

I hold 110,000 in Amigo and 1.8m in BPC. I really need to talk to a good psychiatrist. If you think Amigo is high risk and full of pressure it's a walk in the park compared to owning a share in BPC. At least the Amigo BOD are batting on behalf of their shareholders and treat them with respect !!

Level 3: Never gets it, will always be there to follow the story and hold the bags (Starfish, Tiburn, in4cedros now even GarryG)
Level 3 - I dont think so. I would re-rate GarryG to a level 1. As I have said frequently I do not trust Mr. Potter nor Mr. Uliel or this board. I want to but I simply cannot base on their past performances, in particular in relation to their frequent promises regarding being "fully funded" and the continual dilution of shares. Personally, I don't trust Mr Potter nor do I believe what is written in the RNS's or being kind, I think they are convenient with the truth and written in a way that always gives continual hope to shareholders but never actually shows positive results. Until the board actually posts financial statements showing profits from oil and positive results I remain to be convinced in BPC as a company. The price is half a penny because BPC has never filed company accounts showing profits nor has it ever been successful in finding oil or producing oil to date and has simply survived by convincing shareholders to buy penny shares. I am currently at a loss of 80% I wish the company to be successful and if anyone averages down and makes profits well done. For me, this is a share I will be putting in the box and coming back to once they have announced positive results, that is if they survive. I am not throwing any more money to Mr Potter to fund his pension pot. My own personal greed has beaten me here. A hard lesson to be learned. No fool like an old fool.

Bahamas Petroleum Company PLC
LON: BPC
0.50 GBX -0.070 (12.28%)
Source : Google. 22 Feb, 16:38 GMT · Disclaimer

Down another 12% today. FFS how low can this share go down. I feel like Delontay Wilder in the 7th Round against Tyson Fury getting smashed all over the place whilst stuck on the ropes. The share certificate must be worth more than the actual share ! I kid you not. Less than half an English penny for a share. This is like death from a thousand cuts and before anyone tells me to sell I havent got the heart to sell at an 80% loss.

Harry Off the Dock: "there's never positive today news, always tommorows jam with a begging bowl, don't think anyone can argue that fact, Its about time potter delivered something substantial to warrant his salary".
No I dont think anyone can argue with that.

Parpaign : The validation of a competent seal, good reservoir quality, charge and the presence of oil points to significant hydrocarbon potential remaining in various independent, untested play systems and structures within BPC's extensive acreage. So I hope that apart from the word 'potential', there is 'significant hydrocarbon'.
I think the keyword here is POTENTIAL. Basically saying we didn't find much in this drill here but we reckon there COULD be a lot more somewhere else in our licensed fields.

Some great posts this morning. I appreciate comments for and against so as to give a balanced view. No point just a one-sided opinion. I am now trying to take viewpoints from both sides of the argument. Please if someone disagrees let's not make it personal. My reading from an unqualified layman regarding the P1 drill and I stand to be corrected is.
1. We were on a fairly tight budget anyway, we didn't have lots of surplus money in case of any extra contingencies or hold-ups during the P1 drill.
2. The drill was held up due to mechanical drilling problems which needed to be circumvented "and a mechanical obstruction in the hole at around 2,400 meters which required side-tracking around". This delayed the P1 drill and obviously caused further delays and costs on an already tight budget.
3. These problems were "engineered out" and then the drill continued and good progress was made.
4. The drill proceeded to approximately 70% of the total target drill around 3900m but "the lack of hydrocarbons in demonstrably commercial volumes led to the decision to TD the well at that point."

Pretty much says everything really. Thanks, Nelly B for the post at 10.39 am today.
Good luck all : GG.

Page of Cups. If the purchase of CERP produces positive results this indeed was a great move by Simon Potter. Let's not count our chickens yet my friend. Cerp assets have not produced anything yet, it is still very early in the game. What we want to see are cold hard results in the next 12 months and clarify on funding and less dilution. If the CERP acquisitions mean profits for BPC and a rise in the share price then I will praise Potter. If he can get a farm in or some form of deal with a major for P2, which gives positive results then I will be the first to praise our CEO. At the moment we don't have anything but plans and forecasts but that said the acquisition of CERP may be our saving grace. The next 12 months make or break. Lets hope it is make as we are all invested here and we just want our money back or at least part of it !

Malcy's comments appear sensible on the podcast. Malcy was pretty confident Potter would be shown the door. The other chap said he was waiting to see if all the I's dotted and the T's crossed. If Potter does go, let's all hope as investors we can get a CEO who is more transparent with the RNS's especially in regards to funding and especially in using the term " fully funded". Good luck all.

Ollie239, I'm ball deep invested here mate. Along with a few other pals.

Anyone throw any light on these questions:
Why would BPC offer a new fundraising at a price significantly higher than the current share price?
1. What are the consequences for the company in the event they cannot raise the funds or has the funds already been agreed by institutions or other parties?
2. If BPC cannot raise the funds could this have repercussions on the future ability to trade and act as a viable going concern?
3. What is the funding being used for and what was the Lombard recent funding used for ?

Many Thanks for any help : GG