Member Info for GarryGraham

Rossannan: 02/01/2021 :13.37
"And if P1 does not come in BPC may become oversold to the point of offering decent value".
So your strategy is then to disparage the current BOD and the stock on this bulletin board with the hope that BPC will ultimately fail so you can pick up some cheap scrags when the share price hits all-time lows and the company has ultimately failed and private investors many who follow this BB have lost their life savings. That's nice. Glad you made that clear. Im sure you will make yourself even more popular now you have clarified that.

Ross - if you are so disparaging of BPC why do you take so much interest in posting on the BB. You said you have sold your shares so may I suggest do some research on other shares and invest in them. You have made yourself clear you are not enamored with this company so I suggest you stop posting de-ramping posts as you add nothing new.

Assuming BPC finds commercial quantities of oil, BPC can put pressure to clarify the position once and for all. If BPC plans to extract oil itself there’s plenty of time. If it plans a farm-out, BPC will likely leverage this point assertively. (Using my words for simplicity……….) ‘BPC has spent $120m in exploration and found oil. Our roadmap to production includes a farm-out to a major. Please confirm in writing within 14 days, x, y, z, so BPC can sign a deal with the farmee. Any delay after 14 days will cost BPC ($100-500m in immediate farmee payments) and potentially delay future royalties to the gov in the event of procrastination’.
GREAT POINTS Star
At the moment BPC are playing a defensive game. Once they find commercial discoveries that are life changing for the Bahamian economy please dont tell me the Prime Minister or the leader of the oppisition is going to turn down between $5-10 Billion dollars in revenue to appease a few rich hoteliers and environmentalists on the island. It is going to be quite a while before Carnival Cruises rocks up with its tourists again. Its like the UK turning down North Sea Oil because it was worried about affecting the Scottish Tourist Board - smell the coffee folks. Star has nailed this. BPC would soon start turning the legal screw on the government. If you think Fred Smith QC is bad this would be a trickle compared to what BPC would bring down in legal firepower if the Bahamas Government started reneging on its agreement and why would they. Dont they want the loyalty payments of $5 billion dollars ?

Laallee, That is going in the classic line compilation along with a few others I am putting together.

"Tight Hole, you can get something from your local pharmacy if you have an anatomical complaint".

Mike56 - I thought I had landed on a great share back in July and the more I read at the time the more I blessed my luck that I had "found" this gem only months before the re-scheduled drill. It was fully funded I believed. Then came the CERP merger which was totally out of the blue and diluted the share and to be honest I just think CERP is a sideshow and insurance policy in case P1 is a duster. I also think it was a great get out of jail card for Mr Leo Koot as it is plain to see CERP was going nowhere under his leadership. Then again if " you pay peanuts - you get monkeys ". I was willing to forgive Potter, Uliel & Co as the main focus was on P1 and it was still on track and apparently fully funded. What has happened since then you may ask? Pretty much a myriad of catastrophic proportions for a small private investor with a now decent chunk of change invested into BPC. Hence we sit almost in January with the drill bit going into the rocks but amazingly the share price stagnates at just over 2p I repeat 2p a share- it's unbelievable we have potentially a huge oil find in a wild cat region and the SP is at 2p . It is ludicrous. We could be sat on 1 billion barrels of oil and have a 30-year license with 5 oil fields and the share price stagnates at just over 2p a share. The reason is quite simple. DILUTION and a court case by environmentalists. The environmentalists are not the fault of BPC and I believe will go away but as for the dilution and the wide range of excuses that have resulted in dilution after dilution and basically selling off the company to their mates in the city for 2p a share is nothing short of scandalous. Don't get me started on the £850k consultancy fees to dilute the company either. The board of directors has lost all credibility with Shareholders, especially long term holders. This is why the share price is 2p less than 6 weeks from a life-changing drill. Fundraising after fundraising, dilution after dilution. The markets have lost confidence in the board and to be honest, so have the majority of small private investors who have supported this company and funded Bahamas Petroleum Company for over 10 years. A greedy board of directors with little respect or appreciation for long term shareholders who have stood by the company and funded it from the beginning. I just hope that Mr Potter and Mr Koot can deliver on their promises on P1, because I genuinely feel the morale is at an all-time low when we should be all brimming with excitement and anticipation on a drill as our CEO stated on many occasions is a "company maker ". Best of luck everyone and stay safe in 2021. GG

Cars Coffee - So you are predicting news on or around the 5th of February?

In terms of timing. We are now entering Jan 2021. In terms of any news "LEAKING" out in relation to the success or failure of the drill does anyone on the BB know what the usual procedures are? Assuming that Fred Smith QC is going to be totally dismissed. Does the SP usually rise before an RNS is issued as the whispers have got out as is usually always the case ? Some posters have said the longer the wait the better the news. Is this the case ?

PTMS - had this conversation with fellow investor pals of mine. You must remember mate we are not talking about drilling off the east coast of England where BPC could sue the UK government and actually get paid if they won the case. We are talking of suing a third world Caribbean country that has not got a pot to pxxxx in and whose politicians basically dont give a flying xxxx. How do you sue a country like the Bahamas and actually get the money out of them if you win the case. BPC may win the case in a UK court of law and get paid but against the Bahamas government who has to take out a loan to import sufficient quantities of the coronavirus drug for its populace, I can only say good luck with that one mate. We lose tomorrow and if the drilling stops it's the end game for BPC. 2.19 will look massive to what it will fall to tomorrow. BIG DAY. Only hope the Judge has an ounce of common sense but we are talking essentially a very poor country here and with that comes corruption and politicking. No oil major is going to even look twice at buying BPC or its oil if the judge doesn't throw this ridiculous claim straight out of court.

Anyone saw the latest BPC Pantomine. It's a cross between Dick Whittington and Only fools and Horses. It is quite funny actually providing you don't have money invested in the production. Big Si and Eytan play the lead characters Delboy and Rodney Potter sorry meant to say, Trotter.

An Excerpt.

"And what does Potter rhyme with asked Big Si".
"TROTTER" came the reply from the baying audience. ( Long term shareholders )
"And for your information, I dont dilute shares for a living shouted "DELBOY" Potter in full panto dress to the audience.
No, he doesn't proclaim his sidekick and long-term lacky "Rodney" Uliel.
"Oh no he doesn't- shouted Rodney" to the audience sat in the cheap seats.
"Oh yes, he does" came the roaring reply from the audience.
" oh no he doesn't " exclaimed a now desperately unconvincing " Rodney " Uliel.
"Oh yes, he does " came the reply once again from the audience from the seats now getting even cheaper by the minute.

"Anybody want to buy some more great ice cream for 2p a tub" interjected "Delboy" Trotter.
But you can only have some if you are either my mates from the local gang known as the institutions or Leo Koot my man-crush. Why else would I buy his car lot of a company for what I did?
The audience slowly and sadly walked out of the BPC pantomime, whilst the gang from the Institutions scoffed as much ice cream as they could along with the rest of the cast from BPC.
Let's hope its a better show in 2021.

A Garry Graham Production - All rights reserved. Anyone want to buy the copyright. Price is currently 2.25p and falling fast.

21 Alpha - "they don't have anything yet and if it's there it will cost a fortune to get it out". Do the maths. They discover 1 billion barrels of potentially commercial oil in P1 and they have other 4 additional oil field licenses do you honestly think BPC are going to be skint and a penny share still? They will be sitting on a commercial goldmine. The Bahamas Government can say what they like but ultimately BPC Is a British company and The Bahamas is part of the commonwealth and It adopted English Common Law as its legal system. ... The judiciary uses English common law and includes the Court of Appeal of the Commonwealth of The Bahamas, the Supreme Court, and Magistrates courts. They have entered into legally binding contracts with a UK company. It all depends on the level of commercially viable oil that is discovered. It is as simple as that. With that in mind, anyone fancying a punt at a price of 2.45 or less really does not have much to lose if the Bahamas drill is unsuccessful and then being prepared to wait for the share price to rise from the cerp assets and possibly Uruguay over the next 3 years. If BPC do hit oil in big quantities in the Bahamas there is no reason the SP cant touch 40p according to analysts and brokers and suddenly the Bahamas government will be all over this like a rash.

Anyone buying in now could make serious money at these rates. I am very tempted but I am averaging around 2.47p and pretty much maxed out but if I had the dirty Luca I would. Even if BPC hit minimum targets it's a 10-15 bagger.

Apologies to all > I have found it. GLA - Lets find the black gold and billions of barrels of it. Have a great Christmas.

Does the company have to issue an RNS to confirm drilling has commenced on P1. if it is not legally required to do so, is it normal practice that it would usually issue an RNS. I cant see any RNS about the spud. GG

I cannot see the German government letting Tui go bust and it has so many assets on its balance sheet. That said it is burning cash like a bonfire and this new variant is definitely a major set back for all travel and hospitality companies. I can see Tui and other similar shares having a major correctional in the next few weeks. Next week will be a very tough week for the FTSE and many blue chips amongst them probably Tui will be heading South. Hope Im wrong.

Great post-star. Very interesting and informative. Stay safe buddy GG.

Willibobs33 - Basically the trading position for I would guess about 75% of us. I think they call it **** or bust. I don't think there will be much top-slicing going on for most of us, if very few.

Can someone answer this question. Once the drill bit goes into the sand is the share price still available to buy up to the point the company announces the results in an RNS (and the success or failure) or do they usually suspend the share at some time prior to releasing the results. Sorry to sound thick but new to this scenario and wanted clarification as most on here seemed more experienced and knowledgable than myself. Some guidance, please. GG

Carscoffee - "Garry, can’t be the confident part as they are flogging shares at 2p. So only leaves one option".

So what you think as a fellow investor? Mr Potter has lost his balls and finally knows the game is nearly up?
Hope you are wrong mate. Really do. Is it the last share sell off that has lost your confidence ?

Willibobs33. - Thousands of words and detailed analysis written on this bulletin board every day, but I must say your description of Simon Potter and the BOD sums it up completely in 7 words.
"Either super confident or off their rockers.

Classic - made my day.

Bahamas Petroleum Company PLCshould be renamed.
Bahamas Dilution Company PLC.
Potter & co masters at share dilution. All BPC has produced in 15 years is the mastery at raising finance through diluting shares over and over again. The timing is all wrong on this share dilution. 10 days to go to Christmas and the company suddenly needs £20 million pound after share dilution after share dilution in the past 12 months. Why they couldn't hang on for a few more weeks is beyond me or try to raise capital after spud or even results when the SP is higher. Seems like its money for the old boys club time after time after time whilst the ordinary P I gets shafted by Potters huge drill!