Member Info for Parpaing

Th3e deal has fallen through because the BG has not given the Major the EA and the Major has pulled out because of the lack of an EA.

So the EA has NOT been given by the BG and that's why we don't have a deal.
This is the excerpt from the link from lifeisshort.
More recently, the Company filed its application for Environmental Authorisation in April 2018
as required by the Petroleum (Offshore Environmental Protection and Pollution Control) Regulations 2016 ("the Regulations")
Under these newly implemented regulations, an application for Environmental Authorisation represents the first step in commencing field activities and therefore the submission of the application by the Company represents an important milestone in the project and its development, with the next key milestone being the execution of an exploration well before the end of the current licence term. The Company is presently in ongoing discussion with the Government in relation to the process by which the application will be progressed in a timely manner.

So no Environmental Authorization, so no deal. That's why the major has pulled out because they don't trust the BG to pass the EA.

The English used in this RNS hasn't been proofread by BPC. It states:
"Bahamas Petroleum, the oil and gas exploration company with significant prospective resources in licences in???? The Commonwealth of The Bahamas wishes to advise that it has received notice from the major international oil company that entered into an exclusivity agreement with the Company".
'resources in licennces in where? Word or words missing. Did the BG inform BPC that it has received notice from the major national oil company?
The first paragraph is poorly written.

Potter did not say he was 'disappointed'.I'm holding my shares because there will be a company sale or a farm-in. The Macquarie Bank has fingers in lots of pies and they can pull a deal off for BPC. Macquarie Bank does not like to fail.

All gone to dust. as I suspected its a carbon copy of African Petroleum.

Morning Naylord - just us then....

I wonder how many PIs are looking at their screens waiting for an RNS this morning?
GLA. This could be a very pleasant breakfast...

In 2005 -2006 the shares were 40p or so. In 2011 when I bought them they were 20p or so, just on the hype by Alan Bond.
So a positive RNS should bounce the price to about 50p.

Doubled?
it had better be more than 20p which was the price when I bought them yonks ago. An RNS confirming a deal should be at least 30 to 40 p.

biom is in the Top Risers list. Wow!
When the SP hits 650 I will break even......

The RNS is so exciting that PIs are selling their shares.

Many thanks Gaz !

Siome good news will appear in the RNS coming on the 3rd of September 2018. An update on revenue and product sales.

What's NEX ?

I fail to understand why the super major has paid to guard its secrecy in this deal with bpc. Are bpc and the major just waiting for the BG to give the green light?
If the deal goes to the rats the major won't be named, so this would just be another miserable story like Africa Petroleum (another Australian company, like bpc). As for a lot of data to process, there is a 30% chance of oil (or water), so if they have the green light from the BG then I would have thought that these experts would just get on with it.

No. 2 in Top Fallers list !!!!

THE AGM MEETING RESOLUTIONS
Resolution 1.
To receive the Directors’ Report and the Financial Statements for the year ended 31 December 2017
together with the Independent Auditor’s Report
Resolution 2.
To re-appoint as a director of the Company Mr Simon Potter, who retires by rotation and,
being eligible, offers himself for re-appointment.
Resolution 3.
To re-appoint as a director of the Company Mr Edward Shallcross, who retires by rotation and,
being eligible, offers himself for re-appointment.
Resolution 4.
That the Directors be authorised to fix the remuneration of the Company auditors

Oil prices are estimated to go to between 90 and 120 dollars by the end of this year. That's got to be an incentive for the Bahamas to drill for oil. This is due to sanctions against and problems in Libya and Venezuela.

Peel hunt are increasing their stock so do they know something?

I live in a European country that charges CGT, income tax AND Social Security on any share gains. The bank charges 50 Euros to buy or sell a 'foreign' share i.e. any share in UK. So the government and bank makes money while PIs get any dregs. Hopefully, BPC will get to 20-24 p and I will just get my 'investments' back and not pay any taxes. So I will be very happy to achieve just that. GLA.