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
plus markets TRADES

Intraday

3 month Candlestick with 50 & 200 days Moving Average

4 month candkestick with Indicators ad support /resistance

6 month Bollinger Bands,RSI, S Stochastic and 50 days MA

Charts - 5 days

Number of people who have visited this thread    

Superb recovery.

Prelims:-
http://moneyam.uk-wire.com/cgi-bin/articles/201103310700089518D.html

Also Director purchase:-

31 March 2011


Bahamas Petroleum Company plc
("Bahamas Petroleum" or the "Company")

Director's Dealing

The Company has been informed that Edward Shallcross, Non-Executive Director of the Company, today acquired 120,000 ordinary shares of 0.002 pence each in the Company ("Ordinary Shares") at a price of 22.18 pence per Ordinary Share (the "Acquisition").

Following the Acquisition, Mr. Shallcross is now interested in 120,000 Ordinary Shares, representing 0.01 per cent. of the Company's issued share capital.

WOW big time!!

Rising against the falling market.

Fallen a bit recently but there is plenty of time to decide whether or not you can stomach another FI's/XEL type roller coaster ride!

(BPC) unveiled a positive set of 2D seismic surveys as it approaches its first drilling campaign. The company said the fully processed results confirmed and expanded upon the initial shipboard results released earlier this year.

The data showed multiple structures with four-way closure ranging in length from 10 to 75 kilometres, but with overall larger acreage than previously reported.

Chief executive Paul Crevello said "What is most exciting is the scale and size of the structures we have been able to map and the value creation potential to the shareholder as we approach our first drilling campaign. We verify from the seismic that the structures were not breached and that reservoir and seal integrity are intact. The structures identified are similar to supergiant structures of the Mexican fields in the southern Gulf of Mexico and the Middle East."

Bahamas Petroleum said it expects to be drilling in 2012, as it presses ahead with proving the presence of hydrocarbons in the "exceptional structures".

It added that a contract had been awarded to CGGVeritas for a 3,000-square kilometre 3D seismic survey in the southern licences, with the seismic vessel due to be onsite by the end of this month.

Volume picked up in last few minutes.
2517

So it has! Thanks GEORGE.

Buyers in the ascendancy, sp reluctant to do the same.
2517

Indeed! Mind you, there are a lot of shares out there. 2 less now that someone has made that huge purchase!! :o)

What appears to be a purchase, 5,006,219 reported at 16.45. Interesting.

spread of 14.75 / 15p -1p

Oil price falling as US is ready to release oil to the market ........

US to release oil from petroleum reserves

The release comes as the United States approaches a period of high energy use in July and August.

High oil prices have increased the cost of petrol, contributing to an economic slowdown and putting increased political pressure on President Barack Obama.

Meanwhile, the International Energy Agency said 28 countries had agreed to release 60 million barrels of crude to the market to offset disruptions prompted by Libya's war.

The Paris-based agency said in a statement on Thursday that it made the move because the normal increase in demand over the summer "will exacerbate the shortfall further".

It also warned that the tight oil market "threatens to undermine the fragile global economic recovery".

The countries will make 2 million barrels a day available from their emergency stocks over a period of 30 days.

Share price moving around the bottom it seems 15p ( 14.75 / 15.25p ) UT came out at 15.25p as closing price
No volume yet and no rise like most shares last week.

15.25 / 15.50p +0.625p

after being manipulated down for the last couple days, the level 2 and share price looking much better at the moment

There is some life on the share price again today so looking forward to the next movement up

Settlement as of 08/07/2011, at 5:45 p.m.
An idle session for Bahamas Petroleum Company Plc as it ends the day with a loss of 0.00%. The stock opened stable against the previous close, and traded within range throughout the session. The technical scenario for Bahamas Petroleum Company Plc in the last week shows the security lagging behind the FTSE AIM 100 Ix. Investors could start hitting the sell button.

Status and Trend Analysis
Bahamas Petroleum Company Plc's medium-term situation remains bearish. However, looking at the short-term chart it would be fair to dismiss the possibility that the downtrend will continue for long. An upswing is thus expected, with first resistance at 15.75. Support is at the 15 level. Further bullish cues would suggest a new target price in the 16.5 region.

Risk Analysis
Having deviated widely from its recent average price level, with daily volatility at 6.56, the Bahamas Petroleum Company Plc share bears all the hallmarks of a high-risk investment. It is therefore most suitable for investors who seek high gains and take the possibility of heavy losses into account. In this context, short-term trading is advisable, particularly in the light of intraday volume dropping to 4,176,194, against a volume moving average of 5,425,095 for the last month.Settlement as of 08/07/2011, at 5:45 p.m.
An idle session for Bahamas Petroleum Company Plc as it ends the day with a loss of 0.00%. The stock opened stable against the previous close, and traded within range throughout the session. The technical scenario for Bahamas Petroleum Company Plc in the last week shows the security lagging behind the FTSE AIM 100 Ix. Investors could start hitting the sell button.

Status and Trend Analysis
Bahamas Petroleum Company Plc's medium-term situation remains bearish. However, looking at the short-term chart it would be fair to dismiss the possibility that the downtrend will continue for long. An upswing is thus expected, with first resistance at 15.75. Support is at the 15 level. Further bullish cues would suggest a new target price in the 16.5 region.

Risk Analysis
Having deviated widely from its recent average price level, with daily volatility at 6.56, the Bahamas Petroleum Company Plc share bears all the hallmarks of a high-risk investment. It is therefore most suitable for investors who seek high gains and take the possibility of heavy losses into account. In this context, short-term trading is advisable, particularly in the light of intraday volume dropping to 4,176,194, against a volume moving average of 5,425,095 for the last month.

Nassau Guardian-BPC confident -- Friday, July 8, 2011
http://freeport.nassauguardian.net/business/299888257583948.php

BPC confident it will start drilling in 2012
By JAMMAL SMITH

NASSAU The Bahamas Petro-leum Company (BPC) is optimistic that it will begin drilling in 2012. BPC CEO Dr. Paul Crevello told Guardian Business yesterday that the company and the government are working on establishing the necessary regulations so BPC can further conduct its operations in the country, and Crevello is feeling positive about the progress being made.

"We are working towards a drilling well next year sometime," Crevello said during a Rotary luncheon yesterday. "We know the government is working towards getting regulations in place, both drilling regulations and spill-response contingencies, so I think we're both working towards a similar time frame."

Crevello mentioned that over $14-$15 million to date has been spent by BPC. The oil exploration company raised around $73 million in March. Crevello outlined some of the costs associated with drilling, with seismic surveys ranging from $20-$35 million. Drilling a well can cost from $80-$150 million.

The BPC executive said these will require the finding of a business partner, which the company is actively searching for.

"You would want to bring a partner in that would be a significant company, that you would want to have the responsibility for drilling the wells and that's our intention as we are in negotiation with major and super-major companies, the types of companies that any country would feel at ease with coming in and drilling wells in such pristine environments," Crevello said.

Officials from the Ministry of the Environment did not return calls up to press time. However, in a Guardian Business story last month the government noted it wasn't any closer in granting approvals.

"We have made it clear that we seek legislation, regulations and protocols in place to inform any consideration of the kind," Environment Minister Earl Deveaux said at the time.

BPC holds five petroleum exploration licenses covering 3.87 million acres in Bahamian territorial waters and its maritime exclusive economic zone (EEZ). Four of the licenses, named Bain, Cooper, Donaldson and Eneas, are in the south-west Bahamas near the Cuban border. They vary in acreage from 775,468 acres to 780,316 acres. A fifth licence is held through a wholly-owned subsidiary of BPC, Island Offshore Petroleum Limited. The licenses expire on April 26, 2012, according to BPC's web- site.

BPC will use the funds raised to acquire 3D seismic data and quicken the pace of its development program. The company awarded Osprey Navigation Company a contract to provide a close grid 2D seismic survey of four of the company's petroleum exploration licenses in The Bahamas earlier this year. It followed seismic data obtained in June 2010 which showed the existence of potential super-giant traps with seismic indications of hydrocarbons beneath the waters covered by its licenses.

Bahamas Petroleum began trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com.

"The superior information and visibility of the OTCQX marketplace allows companies to efficiently build investor confidence and expand their shareholder base," said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. "We are pleased to welcome Bahamas Petroleum to OTCQX."

BNY Mellon will serve as Bahamas Petroleum's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements.

About Bahamas Petroleum Company PLC

Bahamas Petroleum Company PLC (LSE: BPC; OTCQX: BSHPY) trades in the United States on OTCQX under the symbol "BSHPY", where each ADR represents 50 ordinary shares. Bahamas Petroleum Company is an oil and gas company with 100% owned offshore license permits in The Commonwealth of The Bahamas.

http://www.otcqx.com/qx/market/quote?symbol=BSHPY

a couple of month old

Paul Crevello and the oil-rich possibilities for Bahamas Petroleum Company

A very weak order book plus the market well down has done some damage to the shares as there are on a downtrend without support at this levels.

For the last 15 minutes things are improving on the buying side and order book so some recovery should be seeing before the end of the day spread 13 / 13.25p

A better day today, though not easy at some point

13.75 / 14p is up on the day on good volume 5.4M so far