Member Info for Linton78

Front page of The Tribune !!!

http://www.tribune242.com/news/2019/nov/21/editorial-we-cant-rely-wheel-fortune-build-our-fut/?fbclid=IwAR15ZvH5apYjX5LTp5Lo4fACnhcMyTyy662csojSwCfz-b7JWxFlbtqGNwM

https://www.p.roactiveinvestors.co.uk/companies/news/907645/bahamas-petroleum-makes-first-big-purchase-order-ahead-of-drill-programme-next-year-907645.html

https://www.voxmarket . S. .co.uk/articles/q-a-with-bahamas-petroleum-bpc-eytan-uliel-8b5cef2/

****************************/articles/q-a-with-bahamas-petroleum-bpc-eytan-uliel-8b5cef2/

New interview

EIA approval could be a real catalyst for a farm in partner...

https://thenassauguardian.com/2019/11/21/bpc-enters-into-msa-with-baker-hughes-for-well-drilling-equipment/?fbclid=IwAR3C3lyD1UMGgJojGINwNOTZEKw4087UxZGdPiusXV6Lwr8Bvl-bIcCCIfw

The legendary 1 share sale before close. What a good spot Arama.

Old school share trading ... surely not?? :-)

https://ewnews.com/bahamas-petroleum-company-signs-service-agreement-with-baker-hughes-ge

hTtps://www.offshoreenergytoday.com/bpc-seals-the-deal-with-baker-hughes-for-bahamas-well-equipment/?fbclid=IwAR3_YtKhejHFDJ8034_vHjLlUZoG-p3rEo6JqCKtfcE079AYFqtZeARDpbw

The exact rig & well location needs to be put in the EIA.
EIA requires final sign-off to meet one of the key CP's of the CLN.
Then the CLN will pay out.
Its all going to plan as far as we can see to date.
Farm out by end of this year a distinct possibility now IMO.

Bahamas Petroleum (LON:BPC) – MSA signed with Baker Hughes ahead of 2020 drilling campaign

Share price: 1.9p, Market Cap: £40.6m

In August 2019, following extensive technical discussions and mutual due diligence, BPC received proposals (including pricing) for a range of well-related equipment, including wellheads and tubulars, for the intended drilling 2020 campaign.
At that time, and as previously announced, BPC issued a notice of award to Baker Hughes for provision of that equipment, as a precursor step to a detailed contract as is customary in the industry.

Following a further period of negotiation and collaborative work, BPC has now entered into a Master Services Agreement ("MSA") with Baker Hughes for the provision of specified equipment.
Further to the MSA entered into, BPC has now also placed a first purchase order with Baker Hughes , for a wellhead set, a contingency well head set, and 36" conductor casing.
The wellhead set is being manufactured to order for BPC's intended well, and delivery is expected in a timeframe consistent with the current drilling schedule.
Conclusion: In ordering these high value, long-lead items, along with the other multiple work streams ongoing, management is taking demonstrative steps to ensure the company remains on track for drilling to commence as per its previously announced drilling schedule.

https://www.proactiveinvestors.co.uk/companies/news/907459/today-s-oil--gas-update---eco-atlantic-oil--gas-bahamas-petroleum-igas-energy-and-more-907459.html

Great stuff... talking about the well and no mention of finance at long last.

Going back to drill costs, there will be additional payments to Halliburton and Baker Hughes on top of the daily rig rate.

Interestking - nuffink... :-)

"This will be a 60-day well. This will not be a producer, it will not be a permanent installation. It will be a 60-rig on-site. The location will be 80-90 miles from any landfall in The Bahamas. The closest landfall is Cuba, about 25 to 35 miles away. It's a temporary location, and remote".

Veteran - Not again! Lol.

That’s a very interesting comment Landicaams.

I noticed this appointment also and the CEO stated during the oil capital conference that the company were recruiting people that they “know and trust”.

The position of the well will obviously be key here and a small find will open up the whole play area for BPC. They don’t need to hit X billions, it’s just about hitting a modest commercial find. The experienced drill team may go under the radar but it’s reassuring to know their pedigree.

Good luck with your investment here!

https://www.drillingcontractor.org/wp-content/woo_uploads/OTC_microsite/Surface_BOP_Panel_-_OTC_2010_May_6_updated_April_27.pdf

Nice to see these posters pop up and pass on their words of wisdom! I noticed your last BPC post was negative (and wrong) Casshy.

The drill is still 4 months away and at the time of spudding the market cap will be higher. There was always a large over hang of shares to clear here... patience will be rewarded IMO.

If they drill a duster we will just have our BFH... (bus fare home)