Ozonechemist
03 May 2018
Caught out Planned to get back in a few weeks ago, but didn't. Hoping to get back in after the initial enthusiasm drops... One hopes
Clod12
03 May 2018
3.15p (+200%) Just in case anyone missed it!
Uncas
03 May 2018
Re: Uncas Interesting thought mate, hope u r in for now. As I see it the $750k added to existing is enough cash to last until licences expire June 2019 so end of year cash flow crisis now gone. So no need for a placing unless they don't get working cap from a deal which they will b asking for. But u make a good point, to get to drill they do need more working Cap. And if they don't progress to funding the well at the very least by nxt June they risk losing licences so it's a lot of pressure on them and a pp to cut a deal this year or early next at latest
rogk
03 May 2018
Re: Uncas Uncas, I see this a a master stroke by the company to get the share price up. This will will followed by a massive share placing . Investors will make money until the placing. It will be a strong sell from that day. AIMO
ccmunichman
03 May 2018
MalcyÂ’s Blog Bahamas Petroleum CompanyBPC has announced that it has entered into a confidentiality and exclusivity agreement with a major oil company to conclude a ‘detailed technical evaluation of the company’s licences in the Bahamas and at the same time seek to develop a commercial framework for a potential transaction’.The process involves the two companies working together for ‘at least’ three months during which the major will pay $250/- per month non-refundable fees and which can be extended by a month up to a maximum of three months. I guess that this is like data room plus as the company have indicated that they have been working with ‘ a number of major companies’ in evaluating their licences up until now but this suitor is serious enough to be able to start charging them.CEO Simon Potter says that this is a ‘significant step in the ongoing process to secure a partner’ and if the relationship with the counterparty flourishes then the patient shareholders in BPC may at long last see a return on their investments. The shares have more than doubled this morning which is justified should this relationship take off, but as always, shares in BPC remain highly volatile albeit with huge upside potential should a partner, some money and a drilling rig appear on the horizon, let’s worry about finding any oil nearer the time shall we?
wizard47
03 May 2018
SP Looks like the price has gone up too fast for iii to keep up as they are still showing it at 1.55p!
Chocolate Chip Cookie
03 May 2018
Re: Confidentiality and Exclusivity Agreemen... After waiting for years, this morning news is most welcome, on the face of it three to six months to conclude a deal is quite short in comparison.I am not too fussed on which oil major it is, but the news that Shell is moving their regional HQ to the Bahamas maybe a hint to who it might be.The potential has always been huge for BPC but the company has never been in a position for realisation, this development of which most investors have been waiting for, paves the way for this to materialise.Exciting times most definitely, but with a sense of we are not quite there yet, however we have never been this close.Good luck to all and welcome to the new.
Uncas
03 May 2018
Re: Uncas thanx JBT - still very low holding atm compared wiv the millions I did have at one time but that was a scary with more than I cud afford to lose in play .
Uncas
03 May 2018
Re: Someone wants their money back Good to see u back rogk - u been right over the years bout selling into rises so credit where it's due.Back in the day u used to post that no one wud spend $120m on an explore drill. Now drill target has changed to a $60m one what's u'r view on that mate
JBT2007
03 May 2018
Re: Uncas Good, I know you had a very low holding at one point. I must admit the extra money helps hugely and the fact that they have been willing to sign the exclusivity agreement is very encouraging. Looking very positive from here. GLA.
Uncas
03 May 2018
Re: Uncas Hi JBT, never been out in 8 years but do trade % So I'm very happy and great news IMO at least we have a possibility of a deal within nxt 6 months and enough $ coming in to last until Licences renewal nxt year now
JBT2007
03 May 2018
Uncas Have you been caught out Uncas?...
suka47
03 May 2018
Re: Someone wants their money back Its always the attitude of small day traders. Serious investors will hold.
JBT2007
03 May 2018
Re: Someone wants their money back The prodigal son returns, very boring, change your tune Roger and go away...
insidergates
03 May 2018
Re: Someone wants their money back You've got to be mad to sell. Months sorry years of stagnation and now as soon as something starts to happen for this company and you want to sell. Crazy.Whatever happens you've got to let this play out !
