A reverse takeover of Falkland Gold and Minerals, BPC joined the AIM market in Setember 2008. Has 5 exploration licences
offshore the Bahamas Alan Burns is CEO founded Hardman Resources has heavy institutional backing.

On 18 May'09 there was news of StatoilHydro has reached agreement with BPC to become the
operator of three offshore exploration licences

Chief Operating Officer Paul Crevello said :
"Some of the structures are very large. There is potential for multiple 500 million cubic meter (of reserves) fields,"
"BPC was also interested in "farming out" to partners its remaining five licences offshore Bahamas."

Now at 3.75p, Broker Fox-davies has a 13p price target on the company.
updates
12 Sep 09 - A number of well-known institutional investors had bought more than 272 million shares
in the company after RAB Special Situations and Edgewater Estates had cut their stakes. Alan Burns,
chairman, said the move significantly broadened

Interesting links
http://www.upstreamonline.com/live/article180910.ece
http://www.fox-davies.com/media/49118/bpcflashnote18thmay2009.pdf
http://www.sharesmagazine.com/emag/21-05-2009 See Page 7 (click refresh button for full screen)
http://www.growthcompany.co.uk/news/1064557/bpc-seeks-new-areas.thtml
http://www.growthcompany.co.uk/recommendations/1067072/bpc.thtml
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Myshare for 2011.

What with no more licenses to be granted by the Bahamas govt it looks like BPC has a total monopoly in h/carbon exploration in this region ,,,, l opened a position at a tad shy of 5p what seems about 10 minutes ago .....but wish id bought in volume now and played the % on this one ... Will be awaiting any retraction in s/p ..,,,,,,,,,,,But who knows ? That day may never come; as this is one heck of a resilient powerhouse of a stock......................

TFC - apart from playing the momentum game, what makes you think there's any oil?

It has been said somewhere, I admit I cannot remember where but I will investigate, there is oil seeping up from the sea bed. Not that it means there are billions of gallons underneath of course. It is certainly worth investigating though!

But if oil is seeping out it means a failed seal....... a failed seal mean no reservoirs of oil down below.........

But they will drill were there is no failed seal [ were there is no seeping oil ] in this region.

This is an opportunity of a lifetime to buy before they 10 bag.

Calm down my dear , its only oil.

You are joking.

They have not got any cash to pay for drilling. Offshore drilling is bloody expensive and they have not got any money to pay the deposit, let alone plan a drilling program.

Considering there is going to be one massive placing at some stage it makes sense to wait for it to happen and then buy in at the discount price.

http://www.barchart.com/opinions//BPC.LS
Maybe 50p next Spring.

now your clutching at straws mitz.,.

Not really just looking ahead I bought these @sub 5p so already a one bagger and waited 12 months for that to happen.Drilling in 2012 so another 12 months plus wait .

RHPS are right for once.

.

Not really just looking ahead I bought these @sub 5p so already a one bagger and waited 12 months for that to happen.Drilling in 2012 so another 12 months plus wait .

RHPS are right for once.

no one has yet answered the Q as to why there should be any oil here at all

Sorry Cynners . Not dodging your question / merely havent been online since friday . But could i first deal quickly with Prose s not only misleading, but TOTALLY erroneous statement ,that BHC s fiscal position will prevent them from being in a position to expolit their Licenses.? ... You are obviously quite unaware that BHC have a free carry of 30% in a drill scheduled for Q1/2 of 2011 after the the mighty Statoil ,having scrutinied the seismic, farmed into three of the leads identified by BHC . Statoil are acting as are operators and FULLY meeting ALL Capex involved with the j/v..../ Other players such as the cash heavy laden Ex/Mob are in talks with company CEO, Alan Burns,ex head wallah at HNR before buyout by TLW ,regarding a farm in to afurthur two leads. After talks with two other unamed "Big Oil" constutients Alan Burns publically stated at AGM that these developments totally catagorically ruled out any need for recourse to city for capital ..The website was IMMEDIATELY updated to include this statement . Call me naive in placing much substance in the plattitudes of an ozzie entrepreneur; but this guy is a strictly "hands on" CEO , keeps investors duly informed , hold a hi-vale position in the company- as do the other B/D and snr management , and is supported by a very prestigious bunch of backers and inluential institutions

TFC, I would say you have been misleading.

BPC have agreed to enter into a JV with Statoil, however there are "NO TERMS" agreed. The licenses are presently 100% BPC owned and BPC must pay 100% of drilling costs UNTIL terms to the JV are agreed and it happens, or until Statoil decide not to enter into the JV.

The recent GS note "ASSUMES" terms of a farm out however those assumption could well be incorrect.

There has been no farm out deal as yet !

You can reference to all the actual BPC RNS's

http://www.investegate.co.uk/Index.aspx?searchtype=3&words=bpc

for i think the 3rd time!!!

no one has yet answered the Q as to why there should be any oil here at all

In 1947 there were eight active licences, including those held by Gulf, Standard Oil, BP, Superior Oil and Shell. Exploration in those days consisted of gravity and magnetics with some rudimentary seismic. In the next forty years further prospecting was done and five deep petroleum wells were drilled either onshore or in shallow water. According to industry consultant Moyes & Co, the well results suggest the presence of active petroleum systems and now, having collected and reinterpreted all the available data BPC has identified twenty-two leads as being potentially capable of holding commercially exploitable volumes of hydrocarbons.


Table showing Petroleum Exploration Wells, Onshore Bahamas and Bahamain Waters, in the following order:-

Well. Year. Operator. Total depth. Age at total depth

Andros Island - 1. 1947. Superior. 4,446m. Early Cretaceous.
Cay Sal - 1. 1959. Bahamas California. 5,763m. Jurassic or early Cretaceous.
Long Island - 1. 1970. Bahamas Gulf. 5,351m. Jurassic or early Cretaceous.
Great Isaac - 1. 1970. Bahamas Gulf. 5,440m. Jurassic.
Doubloon Saxon - 1. 1986. Tenneco. 6,626m. Early Cretaceous.

Overall, the well results suggest the presence of active petroleum systems, based on the presence, especially in the pre-mid Cretaceous Unconformity sections, of oil shows of varying quality, abundant reservoirs and seals, indications of source rocks, and hydrocarbon saturations from log interpretation.

sure doesn't look like one on which to bet your house!