Chocolate Chip Cookie
04 May 2018
What we know so far.. Shell is moving their regional HQ to the Bahamas.Oban to build a new oil refinery at a cost of US$4 billion.The application for Environmental Authorisation has been submitted by BPCS Potter said "The submission of an application for Environmental Authorisation is an important milestone for BPC, as we move toward OFFSHORE FIELD ACTIVITIES and OPERATIONS, ( caps are mine)The Confidentiality and Exclusivity Agreement with a oil major.Extension of CEO contract " Simon Potter ", one further year.Being paid US$250,000 per month for the CE agreement, normal company data is free when trying to attract a partner.Happy with today's share price movement after such a steep rise yesterday, i am sure the price will steadily climb with anticipation on the potential deal over the coming months, but the real movement will be on what type of deal materialises and what if any company working Cap is needed or agreed upon.Overall the recent news events is a very significant development for Grand Bahama's and more importantly BPC.
rogk
04 May 2018
Re: Farm In Agreed in Principle Hope you are right, when and if it is formally announced we should be looking at 15p plus.GLA.---------- ---------- ---------15p. I doubt that very much.
JBT2007
04 May 2018
Re: Farm In Agreed in Principle Hope you are right, when and if it is formally announced we should be looking at 15p plus.GLA.
spiritfinder
04 May 2018
Farm In Agreed in Principle The Farm in has already been agreed in principle, imo, and subject to the Environmenta Authorization being signed off, as communicated to the market in the 27th April RNS.Fits in conveniently with the timescales and very much looking forward to the official announcement of such in due course.Good times ahead.
WhiteBat
04 May 2018
When will the Bloodsucking vampire squid speak? Should we be due an update from Goldman Sachs at some point?Seem to remember a research note from them predicted a price of 25p, which the SP shot up to.Could be wrong on this - it was almost 10 years ago, not long after my son was born, so was suffering sleep deprivation at the time!
JBT2007
04 May 2018
Re: Uncas That's better Uncas, don't be dragged in to zippy's mire...
Uncas
04 May 2018
Re: Uncas BPC finance plan is/woz for $25m cash as part of farm in deal which wud cover their share of drill cost or they cud go for a free carry. But what they want and what they can get may b 2 dif things so placing is a poss but nt a given imo
drjekyllandmrhyde
04 May 2018
Media coverage overnight New investors will be flocking here imho:Stock Watch - Bahamas Petroleum Shares in Bahamas Petroleum exploded after it signed a deal with a global oil company that could lead to a major drilling tie-up. The Aim-listed firm has signed a so-called confidentiality and exclusivity agreement allowing the unnamed oil giant partner to evaluate its sites in the Bahamas. The �550,000 agreement will last at least three months and could lead to the pair teaming up to drill at Bahamas� wells. Shares rocketed 200 per cent, or 2.1p, to 3.15p. Read more: [link] has a short snippet too,Gladjmh
spiritfinder
03 May 2018
Re: Double Figures off the Uptrend! Well, we weren't privy to the duscussions taking place or intimations about the exact nature of potential deals, which may have affected the decisions made.However, we do now have a BoD who are highly aligned with investor interest, in whichever way that has manifested itself.AIM as we know is highly sentiment driven, hence the previous move to the circa 30p level, which no 'value analysis' approach would conform to. Again, not how Aim works but does give a verified indication of level of interest we can expect to see, especially given the upside on a succesful drill outcome targeting a potential World class resource - that puts Buying at these levels into perspective.Other key milestones / catalysts would obviously see their own Significant upsides from current levels against the counter of any negative outcomes.This is one of those genuine potential life changing investments, so Risk v Reward - I'm in and very comfortable being so.Atb & let's look towards drilling here finally.
Hallowed
03 May 2018
Re: Double Figures off the Uptrend! Fair enough. My understanding has been that the dataroom has been subject to scrutiny by a number of investors and it would have been more convincing if offers were put forward first based on that data (subject to agreeing further review, conditions, milestones).However, we are more than fairly valued at GBP 47m (broadly equating to the cost of drilling) based on the "chance" that negotiations will end in a deal.How you perceive that chance is subjective. I therefore think the chances of buying in at current levels may (ironically) hold a greater risk than when we were at 1p. Anyway, I hope we rise further as I am still invested but I am not at this stage tempted to pile in given the above.
crudehope
03 May 2018
Re: Uncas Hi Chief Uncas........heep big powerful medicine today! You guys deserve your time on those sun-drenched Bahamas beaches! I hope this turns out to be the stepping stone that gets you all there........we have certainly had a few stepping stones over at Sound Energy & things are looking really bright there after many years in the wilderness.......it can turn around for you guys too & I really hope it does. It would make ex-supremo Alan Burns a very happy man if he could see his dream come to fruition. I enjoyed my time investing in BPC & posting here........very sentimental memories for me so good luck all!Cheers.....Crude
spiritfinder
03 May 2018
Re: Double Figures off the Uptrend! Well, people thought it would be 'fantasy' to see the price around the 30p levels first time around, so certainly a good precedent there.......and if I remember, the share price also started its ascent from circa 1p then too.However, my post was viewing an 'overall' Uptrend into double digits and not necessarily within the next 24 hrs, but more through the timeframe associated with an outcome here (as defined in the RNS).Given the fundamental importance of securing a Farm in partner, I'm looking confidently towards that.Regarding it being 50:50.....why not 80:20....or indeed 40:60?You're correct in stating that the 250k monthly is a relatively modest figure for an Oil major, however neither would these Companies waste time on a potential asset if there wasn't a genuine interest in proceeding further from what they've seen already.50:50.....I'd probably guess a Positive outcome for Shareholders as much higher, although to quantify such is of course rather naive.Given the Upside v Downside scenario on a succesful outcome and (imo), the much greater likelihood of that happening, I'll look to be well invested here and ride the 'overall' price trend Upwards towards a firm decision being made.Atb
Hallowed
03 May 2018
Re: Double Figures off the Uptrend! It is fantasy to think we will see the SP anywhere near past levels anytime soon - we are a long way off that.Clearly great news today but this is not a one-way ticket. It is however a step in the right direction - BPC finally have serious attention from a major party who considers it worthwhile to spend some time and resources to reach a decision on the investment case and are willing to pay for the privilege of exclusivity (which by the way the amounts paid are peanuts for the big boys who look at deals constantly).So I hope the SP goes even higher in the short term but IMO there is also 50:50 chance it could end up eventually back down again to 1p area subject to the outcome of the review (hope not for those awaiting a higher SP from here).GLA!
rogk
03 May 2018
Re: Uncas No, I meant a funding placing for their share of the drill. (It's a very, very clever deal) IMO
spiritfinder
03 May 2018
Double Figures off the Uptrend! Given we were at circa 30p a while back, with only a modestly lower amount of shares in issue and certainly less advancement to actual drilling Operations, I expect we'll see the Uptrend established with the SP pushing upwards - overall.A trend isn't established in a day and the price will no doubt see short term & intra day transience. However, with such a Strong comittment from the major, other interested Parties in the background, a strengthening macroeconomic climate undrrpinning oil exploration and a potentialy Super World class resource - the Uptrend will no doubt be safely established.Double figures wont be long coming with the 'overall' upwardly trending price.BUY, hold & wait for the share price to move back to the aforementioned levels, imo.Atb all
