Web site : https://www.bpcplc.com/

Bahamas Petroleum Company is an oil and gas exploration company with 100% owned offshore licences exclusively focused on the Commonwealth of The Bahamas.





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Busy again today and equally as warm.

Yes indeed! Dipped my toe a little further into the Bahama sea then top sliced; not my toe fortunately! This has been sooooo long in the boiling pot and there is a chance that a deal will be done. The only thing that holds me back from plunging into that sea is the lack of confirmation from the Bahamian Government that they will allow an oil drill. Having said that, if an oil company is willing to fork out US$250,000 a month with no chance of being allowed to drill, would they do that? Depends who that company is; if they have loads of cash $250,000 is peanuts but with tight margins these days, those peanuts look a bit bigger so maybe they would want to be a lot more careful!

My records show I first bought these@ 4.34p in 2010, in Dec that year I sold some @ 15p ish. Then in Oct 2012 I bought more for 4.24p and have sat on them since.

Nice little earner so far George!

Well done chaps. :-))

Can't complain Kim although it looked a bit dire when they were at or below 1p for what seemed forever. Happy to hold for bigger (hopefully) profit

Thanks dc, waiting for VRS to really take off as I believe it will and I am more than content to wait a while.

Ditto - also AEG!

The biggest profit will be when they actually drill. If you can hold until then and provided they do a deal and get a drill done.

Massive oil fields await imo.........Oil there is proven from earlier wells which were drilled in sub optimal places decades ago.

Now with all the seismic work they know where to drill - all it was waiting for was government to change policy, thats happened and now its not surprising at all a major is paying for exclusivity to do a deal.

Short term spike on a deal will be nothing compared to actual drilling and hitting oil........billions and billions of barrels of it.

:)

"Shell hails bounceback towards deepwater drilling. Head of exploration says break-even prices are now $30 a barrel"

http://www.ft.com/content/c5f464ac-9e0b-11e8-85da-eeb7a9ce36e4


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I have top sliced once already (enough so that I can sell all the remaining BPC I have at 0.5p and come out with zero profit or loss) and have now decided no further top slicing in the event of a deal - just add on dips (after deal) and hold through to drilling next year (or late this year even depending on the Majors accessibility to rigs and EA approval).

https://www.malcysblog.com/2018/08/oil-price-savannah-upland-rockrosebahamas-petroleum-and-finally/

.............Bahamas Petroleum

I met up with Eytan Uliel, Commercial Director of BPC yesterday as he is in London talking to investors about current events. Clearly almost all of what I wanted to discuss was off limits but he did give me some ideas about how things were going.

The name of the super-major who is in detailed and confidential discussions is clearly not going to be disclosed right now but a lot of work is being done. We have recently seen the rollover by one month of the initial three month agreement and this I suspect will be rolled over probably for another two months. I don’t think that there is anything bullish or bearish to read into this as some have suggested but just a lot of data to process.

It is my own thinking that it looks like any deal that might happen here would involve BPC farming down quite a large chunk of its stake in the project but that even a modest residual holding would result in a huge rise in the shares. It is worth saying that at this stage all of the options are still on the table and given my knowledge of these sorts of negotiations anything might happen. This makes BPC a most fascinating share at the moment and whilst the upside is huge there is undoubtedly a possibility of a major disappointment which should enter all calculations.................................

No deal..........RNS out.

Hope everyone top sliced so as to lock in a no loss position.

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This share was too dangerous to risk anything.....I thought about it....but this has disappointed terribly in the past.....penny shares are difficult to predict at the best of times....