Member Info for JConchy

Free carry % matters but how many wells, how much $$ costs refund and what happens after discovery? This transaction will have a lot of detail that will be important. I only hope we get really competent advice so the Major and their slick advisers do not pull the wool over island boys at BPC.

The board must have felt concerned that the CEO was going to appear to be over remunerated. 63500000 shares in lieu for the CEO . On any basis that will be a great reward . This makes me think the Farm Out is v close indeed.

Bigamas = biggest petroleum gusher ever!

The sp stuck in the doldrums and market volume low so it looks like nothing is leaking out or talks are stuck..

I agree the sp is being kept down. Compare the movements with 2010-11.

Some talented analyst will surely do this when the facts are known. Problem is that any valuation will always depend on both facts (what are they) and assumptions so there will always be big variations between best/worst case numbers. Of course, right now BPC shareholders are totally in the dark - just waiting to hear what , if anything is going to happen. But LTH should hope they are not forced out as if they believe in the potential they will want to open the box. When will there be a BISX listing I wonder? Surely that must come on a deal???

We really do NOT want BPC to be acquired rather than let us keep participation through a Farm Out to the Major. Future value will be many rimes more through Farming than a quick buck sale. Let’s pray the Board and Macquarie sgree.

How does Malcy earn his crust?

I don’t think Marcy read the first announcement. Today was a non event. Back to sleep for a while.

Crazy for the Major to make an acceptable offer for all BPC issued share capital . LTHs would not want to take any old price just because it’s above the current sp. We know what the potential is worth!

£5.60 per share is 100x current share price. These naughts may be confusing but they represent a lot of money. Let’s be careful.

It was a PLP administration that has been in power most of the time . & I think granted the licences all those years ago. No Government is ever as quick on their feet as a private company! The Major need to send a big delegation to see the PM. Probably has already. Leak the news please.....

There must be news coming soon. 1 of 3 possibles 1. No extension - Major Walks . least likely outcome?? 2. Extension - but what is hold up? 3. Deal announced. Possible but if agreed why wait to announce at last minute Probabilities for each ????

We want to do a deal and drill.

You’re right Government holds the card but most of these environmentalists are not Bahamians but rather US citizens in Florida. The large majority of Bahamians are hoping for a better future, jobs, education and health care.

Paul Crevello was not an employee but rather CEO at a pivotal time in the history of petroleum exploration in the Bahamas. I wonder how many shares he still has after his defenestration.

What price if the Counterparty just extends? What price if the counterparty drops out?

It’s just unlikely the Major can buy more than a few % of BPC at or near the current price. We own a few shares and might sell half for 30p .

Hatdman sold out but I hope that is not BOC’s fate. Takeover is not a good outcome for LTHs as it caps the upside! Sadly the board of directors are now holders of large numbers of shares acquired at artificially low prices that did not reflect half of fundamental values. I hope sincerely that does not influence them and advisers.

Is it Shell or is it Exxon?