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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14.50p +0.75p

Bahamas Petroleum Company PLC -- 18 July 2011

Publication of Competent Persons Report ("CPR")

Bahamas Petroleum is pleased to announce the results from its recent CPR by Ryder Scott Company, L.P. ("Ryder Scott") which confirms the Company's previous estimates of oil potential.

HIGHLIGHTS

-- Four structures over the Bain, Cooper and Donaldson licences with Unrisked Recoverable Prospective Resources (EUR) in excess of 500 million bbls each at multiple reservoir intervals;

-- Three of the four structures have an unrisked EUR in excess of 1 billion barrels of oil;

-- The EUR have been estimated statistically - and each of the separate intervals are considered to have different risk. However, if the hydrocarbon system is working at each level, the four structures have a summed mean EUR greater than four bboe;

-- The report focused on the Cretaceous interval only. The shallower Tertiary strata and deeper Jurassic pre and post-salt will be evaluated after we have completed our 3D seismic interpretation and;

-- The report also addresses the Chance of Success by reservoir interval for each structure.

The CPR was undertaken following the interpretation of Bahamas Petroleum's recently acquired 2D seismic programme, which allowed for evaluation of trap size and potential reservoir intervals. The 2D seismic defined four fold trends, each with the potential for multiple reservoir intervals.

Post on iii from Gramacho on the meaning of COS in today's report - see detailed post.

And summarises:
"The results are extremely encouraging and should generate further interest. At this stage to have 7 prospects with a COS of 23% and above is outstanding. CHAR (which I also own) has just one although it is a mega prospect.

However bear in mind that the type of farminees BPC is looking for are deepwater operators and these companies will have their own risk evaluation teams who will derive their own COS numbers. In my old company the Risk Police as we used to call them were extremely rigorous. What this report does is give potential farminees more info to work on such that they should be chomping at the bit when the 3-D is completed and interpreted. It may just be enough to get one or two to make a modest farm in offer but I suspect most would want to wait and see the full 3-D interpretation before making an attractive offer.

Hats off to RSC for producing a CPR with lots of detail and justifying their numbers and also to BPC for publishing it. CHAR have been less forthcoming with their recent CPRs and have only issued summary details.

Other good news in the RNS:
1. The new COO is bullish
We believe considerable potential exists in shallower Tertiary section, in stratigraphic traps off structure, in the deeper Jurassic and in the subsalt interval. The potential of these incremental reservoirs is significant and could equal or exceed the volumes reported here. We expect our 3D seismic programme, which is currently underway, will allow us to quantify this additional potential."

2. The 3D is going well more than 40% of the survey completed to date on schedule, time and budget.

IMO a really good story is unfolding here. (Forgive the pun lol!)
Regards and GLA,
Gramacho"

MARKET REPORT - SMALL CAP - from the FT.com

Bahamas Petroleum improved 3.6 per cent to 14p following the publication of its competent persons report, which included estimates of the probabilities of success for the explorers first four exploration prospects.

These are encouragingly high, ranging from 9-35 per cent for various geological zones within the four prospects, noted Canaccord Genuity. The prospect sizes themselves are enormous, with the initial four estimated to contain between 400m and 1.3bn barrels of recoverable oil each. Success with a single well would be transformational for the group.

The billion-barrel oil hunters
: 22 July 2011 Written by: Martin Li - Investors Chronicle
Bahamas Petroleum- BPC

Beneath the sparsely explored waters of the Bahamas are believed to lurk supergiant oilfields. In a story similar to that of Chariot, Bahamas Petroleum has completed one farm-in deal (with Statoil), is in discussions over further deals and plans to begin drilling some massive prospects within a year.
Two independent studies recently verified the exceptional size of the prospects targeted.

These include some of the largest structures identified to date in the wider Gulf of Mexico area, and are similar to the supergiant structures of the Mexican fields in the southern Gulf of Mexico and the Middle East.
The company is acquiring 3D seismic data to better define prospects, although drilling has now slipped from late this year to 2012.

Even so, Bahamas continues to discuss a deal to introduce a second farm-in partner, the conclusion of which should act as the next of a series of significant share price catalysts as the company progresses towards drilling.
Analysts at Goldman Sachs estimate 2.5bn barrels of prospective resources, so any drilling success could result in a huge rise in the share price.

The billion-barrel oil hunters

There has been some interesting trades for the last 10 minutes and share price reacted with positive movement up, more to come it seems

On the way up today as is trying to move higher from the recent bottom

Some intereting trades 1 of 650K and plenty of 100K

The order book has been strong on the bid side since with DEPTH of 1.8M v 1.2M

This looks very suspicious now when the CEO suddenly resigns without any replacement and not due to ill-health.

Bahamas Petroleum is understood to be close to appointing former Hardman Resources boss Simon Potter as chief executive.

Could be useful, he has an impressive CV.

A promising RNS:-

5 September 2011


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

Press Speculation in relation to Directorate Change

The board of Bahamas Petroleum ("Board") notes press speculation over the weekend and is pleased to announce that the Company is in the process of finalising the appointment of Simon Potter as Chief Executive Officer of the Company. Mr Potter's appointment is subject to final approval from the Company's nominated adviser. Simon brings over 30 years of international oil and gas experience to the Board at a time critical to the future growth of the Company, including 20 years with BP and subsequent CEO roles with AIM listed Hardman Resources and ASX listed Dart Energy Limited.

Mr Potter will work, together with other members of the Board, in identifying further high calibre appointments to the Company in both executive and non-executive positions. In particular, he will seek to appoint a Chief Financial Officer of the Company to conclude a process that has been ongoing for some months. In combination, these new appointments will help drive the next stage of the Company's growth and development to further underpin and enhance growth in shareholder value.

Commenting, Chief Executive designate Simon Potter commented:

"I am excited to be joining the Board of Bahamas Petroleum at this time, whilst anticipating the results of the ongoing 3D survey and looking forward to further technical development of the Company. The existing executive management team has done a great job in bringing the company to this current position and I look forward to working with the team over the coming weeks and months to advance further growth options for the Company. In the immediate short term I will work closely with the rest of the Board, and ultimately in consultation with shareholders, to ensure that the Company has in place industry best practices and the best people with which to drive the business forward for the benefit of all shareholders."

The announcement of the formal appointment of Mr Potter will be made as soon as practicable in accordance with the AIM Rules for Companies.

yep saw the press articles over the weekend - quite surprised this did not end the day blue but hey ho

Not far off blue in the end gibby!

A good 3D result would be rather nice.

KEEP an EYE

8.96p ( 7.92 / 8p )

Ready to move higher after the pause around bottom, spread is narrowing on the level 2 and large buys are going on paying full price.

Bahamas Petroleum (BPC) is charging ahead with its oil and gas programme in the Commonwealth of the Bahamas after acquiring a 3D seismic survey.

Having raised 43.3 million earlier in the year to pursue its technical programmes, the AIM-listed company acquired a total of 3,075 square kilometres of seismic survey.

The acquisition area was expanded during the process, in response to early encouraging results.

Processing is already underway, with early indications suggesting that the data sets are of a very high quality. It should help Bahamas to glean potential drilling locations down to below 20,000 feet.

KEEP & EYE

now 7.07p has moving higher today after a marked down earlier why the overhang was being cleared.

volume of 120M so far

2nd day of volume and rising 9.30p now after being 9.62p earlier

What about this one?

According to last rns, testing and location is being decided and no spudding till 2013.,.

16.01.12
Further processing will be carried out along with more detailed analysis and interpretation refined for specific targets, mapping of seismic facies and attributes analysis.

Chief executive Simon Potter said: "We are very pleased with the quality of the CGG BroadSeis data, the reinforcement of the conclusions from the 2D data and the new, initial interpretations we are able to make.

"The ongoing technical studies and well planning activities represent the final phase of de-risking prior to being ready to commence drilling by March 2013 as the terms of our exploration licence oblige us to do."

So one to look at next year BL

Got some this morning, looks good with overhang clear and rig drilling off of Cuba - will heat things up for BPC.

Financial Times
Speculative interest lifted Bahamas Petroleum , with the stock up 7.6 per cent to 7.6p amid hopes that other explorers would provide drilling updates shortly on prospects off the Florida Keys.

Mail - This Is Money
Bahamas Petroleum gushed 0.54p to 7.64p on big volume. A big seller was cleared out and dealers heard that Scarabeo-9, a platform rig owned by Repsol, is to start drilling nearby offshore South Florida.

It might be worth considering that BPC may start to drill this year as they say "The ongoing technical studies and well planning activities represent the final phase of de-risking prior to being ready to commence drilling by March 2013 as the terms of our exploration licence oblige us to do." March 2013 is the latest that they can start.