Member Info for JConchy

When, way back when, I traded strategic stakes in shares, I used to love to move em up and shake the tree. It’s so effective at getting spivs out.

MMs are stocking up and going long ready for a big move up . Never seen that before in this share. There must be an imminent announcement or is it all a rumour?

Who is it? Major must be major even if not Shell or Exxon. Not many companies can be described as Major International ...

It is a lot although 3D is probably now less expensive and BPC was careless with money when they had it. However given where we are today the current sp seems to suggest we only have about a 1 in 3 or 1 in 4 likelihood of closing a reasonable farm out . Why so low? Maybe it’s lack of confidence in management as they have been bad with shareholder Comms in the past. Like not telling us who we are talking to now .

Are major transactions that parochial ?

If BPC, Counterparty Major and Government want to go ahead I don’t understand why they take so long to agree terms & draft an Agreement. Who is causing the log jam?

Controlling the price would surely be market abuse by whoever. I can’t see an oll Major rigging the market as there is nothing in it for them trading even 50m shares . They are after much bigger fish. Yes, the shares are grossly undervalued if any deal is being done. I think so many shares are now owned by the board that the price expectations need to be seriously constrained. The good news is that the board will not try to defer a deal so risking that any deal is done but ensure it is done.

It’s time to find out who is talking. Shell, Equinor (Statoil) or Exxon. Bet its none of the above but a funny from somewhere off the map.

Equinor is the new name for Statoil but they pulled out of Jt Licences with BPC. I can’t see them coming back but you never know. They are at least a quality company but are they are a reliable long term partner? When I hear suggestions that the Potential partner is Chinese I think someone needs their head examining. Enuf said!

I met Alan in a London Hotel maybe Grosvenor House about 2010 and you are right , he was ahead of his time. Also very astute to sell all his shares between 15p and 20p

Just checking on Hess and while it’s a great company it’s not generally considered a Major. They are usually: Shell, BP, Exxon, Chevron, Total, and ConocoPhillips . Of course some of the State Oil companies are both major and international so might come within the bracket if not normal usage of the phrase. I’d accept Statoil too but don’t expect them back after pulling out as they did - short term and unreliable! Even a rumour if the name needs some evidence to support it! We are still in the dark!

People in bahamas starting to believe that the oil is there! This is hugely important as in the past the comments I’ve heard have been that there is no oil silly so why bother with all this nonsense.

I assume this deal covers just 1 licence area. Maybe the other areas become valuable once this deal is done?

we are in the doldrums ! Waiting for a bit of breeze.

The EA will not be issued to BPC without the Major as operator. These deals all hang together. IMO we have a deal with the Major and are waiting for Caninet signnoff. In Bahamas that is how it will be done. The signals have be positive so it’s a matter of time. BUT. The Major had better be a real Major not some big quacker from a small pond.

Trouble is Bahamians have no interest in soccer . But have no fear when the time comes there will be lots of ways to spend the money!

I think they will go for it because that’s the martial world we live it. But, a massive oil find will change the character of the country and its people and not necessarily for the better. Controlling misuse of the Sovereign Welth Fund will be a challenge, for instance. There will certainly be pressure on government to spend money on jobs too. With only 375000 population this will be a Caribbean country more like a Gulf Emirate , without an Emir , of course!

I doubt if EA will come before the Farm Out with the Major.

Shell may not be all good news. They may seek to hold back production to suit their own requirement for crude. Big Oil goes that kind of thing.

Those were the days. I never did find out what happened on the Board of BPC. Dodgy goings on for sure.