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The question from this gentleman from a forum back in 2015 is very interesting and slightly worrying. However, our structures are different and in deeper water, not to mention all Bahamian wells struck oil. Any thoughts? Go to 17:00 into the video. Cuban oil exploration is no longer happening...and we are very close to the region where these three wells were drilled.
https://www.youtube.com/watch?v=OeUDsS5wdNk&t=1113s
Starchild,
Nice. However when you say Zak predicts 36p at 'successful spud', do you mean when the drillbit hits sand or on completion of the well and an oil strike? If they hit oil here and its a good oil strike (all historic Bahamian offshore drills have hit oil) it should send the price through the roof...i.e circa 50p-100p+
The thing is, if Perseverance hits water and dust will the SP not come plummeting even though they have other structures to drill?
.**********.co.uk/articles/reabold-resources-gfinity-bahamas-petroleum-and-glen-goodman-5eee244/
See in below video link an updated interview with Simon Potter. Good to hear from the main man. Let's see this stock head for 10p and higher hopefully.
****************************/articles/reabold-resources-gfinity-bahamas-petroleum-and-glen-goodman-5eee244/
Greenmole...a pound a share. No chance. 10p a share you mean.
Andy,
Absolutely, 8p at the Spud and then upwards to 10p as the drill commences. Could they relay news during the drill or how long after the completion of the well would they make accouncements? Just hope Crude price picks up as the world starts to get back into gear...and they find a vaccine!
To be honest, anyone shorting this is completely stupid. They have secured a rig to drill a huge prospect and the price of oil will be back up, believe me. As we have seen the price of this stock will slowly start to rise and once they spud, we should see 7/10p. The prize is potentially huge here. Sit tight, and let the team follow through and execute. As Warren Buffet said, the stock market is the transfer of wealth from the impatient to the patient. Just can't imagine the price if they start to encounter thick layers of crude in those structures as they penetrate. Very exciting!
Keith,
COVID-19 has not had that big an impact on offshore activities as a whole. I work for an oil company and we currently have the worlds largest crane vessel about remove some of our facilities, and we have over 250 onboard. We have a COVID-19 management plan. Offshore oil platforms do not stop...they are ALL producing. So don't think this will impact a drill rig 8 months from now....when the world will have additional measures and who knows...a vaccine.
It is really great news we have a rig contract signed and big credit must go to the BPC team to get this done. They have been perfectly transparent here and all cards have been on the table for months.
I am thinking this could work out beautifully for us investors and BPC for a few reasons. We are now naturally in a market with less demand hence we have lower rig rates and according to analysts, the demand for Crude is forecast to spike at the end of the year due to a lack of upstream investment and this should induce a hefty oil price increase. This price increase will arrive perfectly on time as our drill will take place thus attracting more investors and then hopefully driving up the SP. I don't think it will be unreasonable to look at 7-10p.
It is really great news and the future is positive. The only doubt i have is, what will the future hold for BPC if Perseverance 1 is unsuccessful? Will BPC focus their attention to other prospects?
Who is Degsy?
Interesting video. October and the drill cannot come soon enough. Hoping for 15p+ and a 60/100 USD per barrel in 2021 could see us 30p+. I aim to make a killing from BPC.
https://www.youtube.com/watch?v=pUdWfXmgE-k
Why wouldn't it go to the past highs if they start drilling..? Look at Desire petroleum in 2010...before they even stuck oil they were over 100p
That's because you a) don't accept the volatility of the oil and gas industry b) didn't see that it was 0.6p years ago and then went to 6p only on the news of a rig mob c) are annoyed because you invested lots at a high price and are impatient.
It will go back up. Remember...as Warren Buffet said, the stock market is the transfer of wealth between the impatient to the patient...
What do you mean Laallee?
Groover, I coulddn't say but let me tell you this....the 2014 oil and gas downturn was one of the worst in history. We came out of it...and it was booming before Covid 19. The trouble is now is that drilling is a very crowded market and all these companies want a slice of the pie but the world needs crude oil and gas. UK needs over 40% of its electricity supply from gas....just as an example. Remember its a marathon not a sprint. Seadrill will come back in 5...10 or 15 years...be patient.
Hi folks. It's been a while since I posted but I share the opinion of quite a few on here. As far as I am concerned the bottom has been reached with BPC, and all the cards are on the table. Whilst the upstream oil and gas industry has lost almost 30% of theoretical value, oil will plateau around 50 dollars a barrel. For basins such a s GoM and West africa, that is still tremendous. We were trading around 6p on the news of a rig mob, and when we are actually on site and begin this seismic confirmatory drill, surely we cannot expect anything less than 10p-15p? A farm in is irrelevant as BPC will hold all the cards and with rig prices lower and the fact that hydrocarbon demand is here for the next 30 years at least, we should be in a firm place and have the potential to make a lot of money here. I am about to go offshore to remove two oil fields, i.e around 10 individual fixed platforms on the worlds largest crane vessel, and I can tell you that Covid 19 is not having as big an impact on offshore logistics as people might think. Buy big and ride this oncoming wave.
Hi folks, see below link from offshore energy. Telling what we already know but still good to see news. I work in offshore construction so have seen a number of news flashes from OE.
https://www.offshoreenergytoday.com/coronavirus-spread-pushes-bahamas-well-drilling-to-october/?utm_source=offshoreenergytoday&utm_medium=email&utm_campaign=newsletter_2020-03-26
As someone else mentioned earlier, we have been told everything that is possible now and all the cards are on the table so well done to BPC. The price can only surge from here and this price is absolutely unbelievable. Who wouldn't buy a truckload of these shares? Once we drill it is going to easily go up to 8p.
Noted, thanks. I did see the 36p estimate based on the confirmed oil strike. But even 8p is great. October will be around before we know it. And excellent news China has got the COVID under control. Just a pity cultures like Spain and Italy are a mess. I have worked many years with Spanish and Italians and one thing is certain, they always know better and can never be told. Pity USA isn't leading by example. But onwards to October to get that drillbit into the Cuban sand.
Starchild, you mean that is the value of the SP before drilling takes place? Ok understood. In your opinion, what kind of share price could we be looking at if they do hit oil but waiting confirmation if economically viable?