Member Info for NellyB

£64K buy went through at 13.59pm

Is there a URL available for today's AGM? I only caught the last 5 minutes of it live.

It would have been nice if GR could have at least confirmed the status of the drilling camp, during today's interview.

His strategy for funding the DFS does make perfect sense, but it seems the market values certainty of funding above the reduced cost of funding.

Tiburn:

I posed the question to the Proactive, about whether shareholders would get a more detailed update about the findings from P1. Eytan answered this on the 6th of May in the Proactive Q & A video and said that the analysis is still being completed. The Bahamas government are yet to be informed and shareholders should get an update of the highlights in 6-8 weeks (from 6th May)
See 7m15s: https://www.youtube.com/watch?v=97B0ZuskdrI

I'm still fairly confident of a farm out, but don't personally expect any news on this until around October / November, after the license extensions have been approved, the court case has been resolved, and the dust has settled a little. These things do not happen overnight.

I'm probably a bit late to the table with this, but have just watched yesterday's Q & A session and company update from Eytan.
I think he came across very well, very open, frank and honest. Not much of the content was news to me, but feel somewhat reassured about the future of the company and SP recovery, under his guidance.

For any shareholders who's not yet see it, definitely worth a watch:
https://www.proactiveinvestors.co.uk/companies/news/948181/eytan-uliel-commercial-director-of-bahamas-petroleum-lon-bpc-presenting-at-the-proactive-one2one-virtual-forum-29th-april-2021-948181.html

Raminik41, Consolidation doesn't (directly) affect the value of your shares.

If you hold 1000 shares at 0.35P before consolidation, you will own 100 shares at 3.5P, (or 10 x whatever the market value is at time of consolidation)

You will own 10 x fewer shares, at 10 x the value per share. The net effect is the value of your shareholding is unaffected.

Bohemia: Check the fundamentals at the top of this page. Our current market cap is £17m

If the placing is successful, add another £6.9 million to that and we'll be at £23.9 million Market Cap.

Garry Graham,

Do a little digging and you will find that BPC had funding in place for the P1 drill, which was taken off the table due to the last minute legal challenge. If the BOD locked in funding earlier and paid interest fees from shareholders money, would you be patting Simon on the back for a job well done?

The drill failed due to bad luck, not a lack of planning for unforeseen circumstances (legal challenge and steel down the well).

I am however still scratching my head as to how there was $14m overspend, when the drill was terminated within the 45-60 target days, AND we had a $5 contingency built-in.

I think at the very least, the shareholders have a duty to come up with something better than Challenger as the company name.

I'll kick things off:

Caribbean Resources And Production... oops.

Seriously, this is the name they went with?

NASA's 1986 challenger mission lasted 73 seconds and killed all on board. I'm sure I won't be the only one to draw parallels here.

The recent "funding options include..." neglected to mention the one funding option they are actually going with. Very disingenuous.

Not happy.

Bully - do Trinity hold multiple licenses in deepwater areas that could hold billions of barrrels of oil and potentially have a transformational farm-in deal within the next few months?

Snowking, I believe the next news will be to announce the AGM...

"Premier has not concluded final financing details but expects to update shareholders at our next annual general meeting which is expected to be announced in the coming weeks". GR 31/3/21

Eytan's photo is next to the BPC presentation slot. I hope he has good news for us :o)

Apparently Fred Smith is still counting out the change at Bahamas central bank.

According to the Tribune, BPC has decided to give him extra time, but we don't know how credible that news is, as it's not been RNS'd.

Nope, I just see some gibberish in arabic .

PREM telegram group.

Can you let me know how to join the telegram group - the link doesn't work.

Thanks.

SVS I don't expect anything of the sort.

You said only dead oil and evaporates have been found. This is blatantly false.
Live oil has been found in multiple wells, as evidence by your own sources.

SVS, you didn't say "no commercial quantities of oil have been found yet", which would be a true statement.

You said "all that has been found is dead "evaporated oil" in every well drilled to date.", which is a false statement.

I have no issue with anyone voicing their opinions about anything, as long as they are presented as such.
I do have some issues when someone chooses to present their own set of 'facts' that differ wildly from an official CPR (COMPETENT Persons Report), even if it is a few years old.

"all that has been found is dead "evaporated oil" in every well drilled to date." is not a factual statement.

And on the last page:

"Overall, the well results indicate the presence of a active
petroleum systems, based on the presence, especially in
the pre-mid Cretaceous sections, of oil shows of varying
quality, abundant reservoirs and seals, indications of source
rocks, and hydrocarbon saturations from log interpretation.
Carbonates, the major component rocks of this region,
globally contain 60% of the world's oil but are not often
encountered by nor best understood by many of todays
major and independent oil companies.

According to the “Assessment of undiscovered conventional
oil and gas resources of South America and the Caribbean,
2012” report by the U.S. Geological Survey, the region hold
an estimated 126 billion barrels of oil and 679 trillion cubic
feet of undiscovered natural gas in 31 geologic provinces
of South America and the Caribbean. The Bahamas share
of this windfall could be as much as 4.3 billion barrels."

That sounds a very long way away from your statement:

"all that has been found is dead "evaporated oil" in every well drilled to date."

You don't need to be a petroleum engineer to work out your view is different to the one you are sourcing from.