Member Info for GarryGraham

Linton 78: Garry - Get over it sunshine. Stop whining like a little girl.
Point taken no more wining from me. Just looking for cold facts from this BB now. I won't be posting any more opinions about the board of directors as everyone knows my opinion on them. I would love nothing more than Potter to prove me wrong.
No more complaining from me. GG

Very good strategy from Starchild and another fully researched post. Thanks again. I am considering averaging down but would appreciate any feedback on the following from those with more knowledge on the financing issues than me. I am not offering or seeking an opinion either way on the pros and cons of the funding. I am just looking at plain facts in which I can make a decision to hold or buy in again and average down. Thank you for any help provided.

1. Am I correct in stating that BPC wishes to raise funding of 350m shares at 0.008p?
2. I was of the understanding the funding from Lombard was for all the T&T and saffron drills. What is the purpose of this new funding ?
3. Was this additional funding announced in the last RNS expected or is this new funding ?
4. Are we likely to be fully funded once we have received this money. I appreciate only BPC can fully answer this question. This is why I have added the word "likely".
5. Why would BPC offer a new fundraising at a price significantly higher than the current share price ?
6. 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?
7. If BPC cannot raise the funds could this have repercussions on the future ability to trade and act as a viable going concern?
Good luck all and have a great weekend.

Lallee, Appreciate your total honesty. I haven't got the balls to sell at the moment. Good luck in the future. Thanks for your reply.

Lallee- Sorry mate I cant take someone serious who has been reporting for months through his local mate in the Bahamas Jmann that P1 was a gusher. 2bn barrels of oil - well you got close on that prediction didnt you! . You come on here and criticize me for adding a dose of realism about BPC which is a dog of a share at the moment , when you have spouting off for months about your local source. Remind me not to get betting tips at Cheltenham from you or Jmann or whatever he is called.

Pduk - Great post. Nothing better than hindsight. It happened to you before and it will probably happen to us here again. CEO's like Potter and "commercial directors " Uliel and I use the term " commercial director" very loosely based on the horrendous funding deals we have done dont care a hoot about Shareholders interests they are just on the gravy train. All I care about now is getting out of this stock without losing all my money. If someone on here can convince me to average down and show me the facts I will. Otherwise in my mind I have written it off as a greedy mistake on my part. Just gutted for my mates who have lost their dough because I stupidly bought into the crap Rodney and Potter or should I say Trotter were spurting out.

Page of cups. With respect Sir, your posts are based on assumptions and the most favourable position being possible and not on hard fact. We have to grasp the nettle now and realize the dire situation we are in. We are NOT going to become multi-millionaires out of this stock. The BEST case scenario I would suggest being totally realistic is that the share price will go to a penny or 1.4p in the next 2 years. The most probable scenario is that it will flounder around the 0.4 - 0.6 range for a long time or go BPC will go bust or the company will be bought out for 0.75 pence. Please grasp the reality. The share price is half a pence, repeat half a pence. Most long-term investors are sitting on 80% losses. Please put some reality into your posts instead of eternal optimism. No major has ever made an offer in writing and until we are told otherwise in an RNS its only purely speculation at best and Potter should not even put it out. We have not found commercial quantities of oil in the Bahamas. It is unlikely we will drill there again. The share has been massively diluted because we currently have no assets that are producing oil at a profit. It pains me to say all these things as I am a shareholder and massively down but these are the cold hard facts of the matter. I am looking for any chink of light. What I would appreciate is if anyone can post on here a rational summary of our financial position that will at least convince me to average down. I want the SP to rise of course I do but I have to be realistic to the hard cold facts and dont want to spunk even more of my money on this oil "shell company" if not entirely necessary.

Im down 77% as I imagine most people. This is how I see it.
1. Bahamas Oil fields. I don't believe that P1 has been a success, I am of the opinion it has been almost a total failure. I am of the opinion that BPC has found very small amounts of oil and the reason why the drill lasted so long was that they simply did not have anything to show. I don't think they have any decent quantities of commercially recoverable oil whatsoever and nowhere near 50 million barrels being stupidly quoted. If they had found for argument sake 100m barrels of oil they would have announced it in an RNS. Why wouldn't they? If they had found 50 m barrels of oil. They would have announced it. Why wouldnt have. They have in my opinion found traces of oil in the drill. They may have found a "working petroleum system" but this could mean anything and like the vast amount of RNS issued is full of conjecture and the words are used to hide the failure of the drill. Do I believe there is any chance of a farm-in by a major or supermajor. Absolutely no chance and anyone clinging on to this hope is living in dream world. Ask yourself this? Why would an oil major let's say Exxon, for example, want to get involved in a farm with a company that has never been successful since it has been founded in discovering oil of any commercial quantities. Why would Exxon or another oil major want to spend $40 million - $50 million on a joint venture with BPC and give BPC say 30% of the profits when it could buy the junior partner for a lot less than that and take 100% of the profits. BPC market capital is about £35m. Why would the major simply let BPC licenses expire and then contact the Bahamas government and renegotiate? Would a major want to even get involved with a PR disaster and become entangled in a lawsuit with environmentalists and all the bad publicity that comes with it. Exxon certainly wouldn't being an American company under a Biden presidency. I think we have to accept the fact as shareholders that the Bahamas oil fields project is a non-starter. Its a dead duck and we have to look at other options in which the share price may rise. Saffron/T&T - Cerp Assets.
1. Are we going to drill these oil fields? As shareholders, we can live in hope. Do we trust the CEO and board of directors and believe they have the capability of making profits from them. This is the $64000 question. 2. Have we sufficient funds to drill these oil fields. I don't think no one on this BB is confident of this. Its going to be a tough long road. Do I buy more shares and average down and hope the company can turn it around. I have little faith in the directors' trustworthiness but dont see any other option. Are we going to go bust? Please someone on here explain the chances of this happening. We are all in a corner between a rock and a hard place. I really dont want to average down but cant see any other option of getting some of my money back but obviously concerned we could go under. GG

Plenty of skullduggery going on “not a commercial find” lies, lies and more lies:::::::FACT
Please expand further ???

The Pole: "Plenty of skullduggery going on “not a commercial find” lies, lies and more lies:::::::FACT"
Interested in why you are saying this. Please expand further your opinion. Not here to criticize just interested in why you are stating this?

Great post. That is what the board of directors should provide to the shareholders but I think we will never get regular detailed financial and drilling updates whilst Simon Potter is in charge. Potter didn't have the guts to do the live presentation to investors on P1 a couple of weeks before the results as planned and instead sent in his lackey Nathan Rayner to basically read a company statement on a pre-recorded video. What makes you think Simon Potter is going to suddenly change and get his CFO to provide detailed costings every quarter and drilling reports from his Nathan Rayner. I totally agree with your sentiment and think its a great idea but sadly I cant see it happening unless we have a new CEO.

Linton 78: "The fact that they hit 50 million rather than 500 million barrels is due to the rocks. We just didn’t know know what was down there..."
Im sorry am I missing something. When did Potter or anyone else release a statement saying they had hit 50 million barrels of oil in the Bahamas P1 drill. This is a misleading post. They never stated that.
Finally, you add BPC didnt know what was down there. BPC spent over $120 million repeat $120 million in trying to find out what was down there. Potter and Uliel were bigging this up for months in online presentations. Remember the " oil seeping through the sea bed" and " dead cert " comments in presentations and the phone will be ringing off the hook from the majors. For directors that really didn't have a clue what was down there, throw away comments like these and overconfidence during presentations is extremely irresponsible as private investors are investing in the integrity of the directors. At best it's inept and at worst its misleading. I can handle losing my investment in a wildcat oil field but I find it intolerable for directors to make suggestions to shareholders that are not factually correct and at best suggestive and at worst misleading. All in my own opinion.

Come on Guys - Please post a mark out of 10 for Simon Potter's performance as CEO and the way he and the board represent shareholders' interest. All opinions respected. Any comments appreciated.

Page of Cups. I can tell from your posts you are an intelligent man but why I ask do you keep believing what Simon Potters says either in presentations or through RNS's. The man has never delivered on anything for BPC except dreadful funding deals, failed oil explorations, and continual dilution using shareholder's money. He's been promising farm-ins for years. No one is interested in us mate. Why would they farm in. They could probably buy the company for less than a penny a share.

MIke56 - I have always found you one of the most sensible posters on this board without trying to bloke smoke mate. I respect your opinion. I have a question to you and to all the posters on this board. It is a very very simple question.
On a score of 1 - 10 how would they rate the performance of Simon Potter and the way he, as CEO has represented Shareholders Interest. I would give it no more than a 2/10 at best. Come on everyone let's be honest. We either have a very weak board of directors or a board of directors who do not value their shareholders' money. How many of this board do you think would be kept on if we were bought out by a oil major. Very few I would guess.

Here's hopin: "Why didn't you sell today then Garry"?"you sound a little stressed in your post".
My reply - I was waiting for the RNS and a possible chink of light and some rabbit out of the hat from Mr Potter. As usual, I read we are going through even more dilution whilst so-called supermajors may invest in a company with a tiny market captial who has found no commercial quantities in the Bahamas when oil was supposedly seeping from the seabed. Get real Potter - do you honestly think shareholders will continue to believe you. You have lost all credibility. At least Leo Koots had the dignity to leave. I couldn't sell today as I was too busy working trying to earn money to make up for all the money I lost investing in this fairyland oil company that exists on paper only. The only thing this board of directors excels at is raising capital through awful financing deals and convincing gullible gamblers to invest to pay their salaries.
Am I stressed? I can handle it. I have a decent business so although it's a kick in the nuts I will lick my wounds and get over it. Who do I feel sorry for? Probably the chap that phoned me from the BPC Facebook group last week who was on the phone for 30 minutes and had recently cashed in all his endowments to invest in Bahamas Petroleum Company just a few months after being diagnosed with a terminal condition. Hope this answers your question.

Page of Cups: "Majors would give their right arm to start off in that position in a new basin with the next drill. imo". Mate give it a rest. You have been bigging up this company for months. I like everyone else has lost their shirt on this company. BPC are a perenially loss-making company that has NEVER made a profit. In my opinion Simon Potter , Eytan Uliel, and the rest of the board are a private investors nightmare. Take a look the share price is half a penny. You will still be bigging this company up when the administrators have been brought in. Sorry mate - you may mean well and I hope you do but your posts have lost all credibility.

Bespoke: "You’d like to think that they would have put in more effort with the recent presentation if they felt that they were going to need to raise funds for the cerp assets on the back of a duster "!
That's a great post and a really valid point. Remember this was a SALES AND MARKETING PRESENTATION to attract investors. We were not expecting a Jordan Belfort ( Wolf of Wallstreet) standing on the tables throwing thousands of dollars in the air presentation shouting "we've found the ****ing oil " but then again we expected a bit more life and enthusiasm than Eeyore from Winnie The Pooh.

Some members of the Facebook BPC page are promoting a BPC "buy Friday £333.33 day". It's just a bit of fun and prompting all existing and potential shareholders to buy £333.33 of new shares and its also been promoted on Reddit as well. Hey - in for a penny in for a pound. Im sure £333.33 is not going to hurt most BPC shareholders. Think it will help as Im expecting Lombard to dump their shares and make massive profits on this tomorrow. Let's see if we can counter it any small way possible. They dont want to be associated with our company and I think small investors have had enough of these greedy funding hypocrites.

Great post Star at 04.16am fella full of research as ever. Stay safe my friend. GG.

- Upside x3 to x6 - 1 in 3 chance - total ******. It all depends on the commercial amounts recoverable. This stock could go anywhere from 0.5p on a total duster recovering to 2p over probably 2-3 years to 50 - 60 pence on upside targets. To say its going to go three times if they hit 1bn barrels is just plain nonsense.