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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The well offshore Cuba thats spudding soon will show whether there be a good oil system or not.




http://www.citywatchla.com/component/content/article/317-8box-right/2742-waffling-on-keystone-ignoring-us-reserves-has-us-over-a-barrel--oil-that-is

Waffling on Keystone, Ignoring US Reserves has Us Over a Barrel … Oil that Is

01.23.2012 KAY MARTIN

ENERGY INDEPENDENCE - They say you should never look a gift horse in the mouth and they’re not talking about bad breath.

The Cuban government has armed itself with a couple of breath mints and once again teamed up with China and they’re looking right into our mouth. The Spanish company Repsol is teaming with the Chinese for installation of off shore Cuban drilling within 60 miles off the south of Key West. We will be able to see them from Florida capturing some five to 20 billion barrels of oil believed to lie in the coastal waters right under our noses.

In addition, there is a lot of hoopla right now over the Keystone Pipeline Project designed to bring billions of barrels of oil to us. Our economy and national interest will benefit. The TransCanada pipeline is poised to put 13,000 Americans to work to construct the pipeline–pipefitters, welders, mechanics, electricians, heavy equipment operators in addition to 7,000 manufacturing jobs that would be created. Additionally, local businesses along the pipeline route will benefit from the 118,000 spin-off jobs created through increased businesses for local goods and service providers.

It would begin in Alberta and extend through Saskatchewan, Montana, South Dakota, Nebraska, and Oklahoma to existing terminals in Nederland and Port Arthur, Texas. The 2,500 miles of pipeline has been decried by environmentalist who continue to ignore the existence of 300,000 miles of pipeline in the continental United States. The major impediment to the Keystone Pipeline right now is the vacillation of the White House. By the way, China is now talking to Canada about getting to this oil if we don’t want to bother with it.

None of these reserves take into account the 2 trillion barrels of oil reserves beneath the surface of the Rocky Mountains, the reserves in Alaska’s Prudhoe Bay, the trillions of barrels throughout the continental United States, or the unmeasured trillions of barrels off shore of the United States.

Now let me give you some really good news. The U. S. Geological Service recently issued a report on a really big find – the Bakken Oil Fields. It is vast stretching from Montana into Canada. There is enough oil for 2,000 years and more. That’s not just good news for Americans, but for you and me.

James Bartis, lead researcher with the study says we’ve got more oil in this very compact area than the entire Middle East - more than 2 trillion barrels untapped. That’s more than all the proven oil reserves in the world today, reports the Denver Post. Our current U. S. budget indebtedness of 15 trillion dollars could easily be paid off within 5 minutes. It could kick-start the economies of the Western World.

In summary, we have more oil inside our borders, than all other proven reserves on Earth combined.

Official estimates are:

● 8 times as much oil than as Saudi Arabia

●18 times as much oil as Iraq

● 21 times as much oil as Kuwait

● 22 times as much oil as Iran

● 500 times as much oil as Yemen

And it’s right here in the good ‘ol US of A

Los Angeles should be taking the lead in promoting the development of these resources since we are the most dependent in the states. In addition Los Angeles tolerates a 16% unemployment rate and an 11% mortgage delinquency leading to a high foreclosure rate.

Los Angeles can start with development of the oil field right here at La Cienega Blvd and Stocker Avenue.

We continue being held over a barrel and one can only predict that when OPEC again says ‘touch your toes’ we will again respond with ‘say when’.

(Kay Martin is a writer and a new contributor to CityWatch. His years of travel and work included tours in Russia, Europe, the Middle East, Africa, Asia, Australia, Hawaii, Latin America, and the Pacific. He can be contacted at kaymartin@hotmail.com.) –cw

Where are they drilling ......this other company.....has anybody heard of the cuban trench ?......if this new well is close to BPC's licence then the sp might in turn shoot up....depends where it is....

RF, yes, this well is close, this is the long awaited Cuban well which will have implications for BPC's license areas.

On which side of the cuban trench ?.....might be a different system.....

N27

http://blog.skytruth.org/2012/01/drilling-to-begin-soon-in-deep-water.html


.

Interesting...deep water drilling.....will monitor....

Nothing stopping this one.

Lovely :)

Have not posted here for a while but still hold a shed load, although I did sell some on the way down from 24p ish. Markymar I would suggest that if you wait until next year to look at BPC you must expect to pay significantly higher than their current sp, imo of course. Good luck all.
2517

Looking interesting again.

Any target? or reason behind the rise?

Chartist, Simon Griffin (shares mag) has a tp of 19p.
2517

Taken from elsewhere!:-

Shares in BPC bounced after a weak December. There was little news-flow of note, albeit on the 16th January management announced that the initial processing of its 3D seismic survey data had been completed. The RNS stated that “data quality is excellent and data volumes have been received in both time and depth.” Detailed interpretation is now underway, and is to form the basis for well location selection, well design and planning.
Prior to this news, the key operational update was perhaps in July of last year, when the group published a Competent Persons Report.
This report confirmed internal interpretations of the numerous oil exploration leads and prospects offshore the Bahamas. Importantly, the report (produced by Ryder Scott) also provided estimates of probabilities of success for the initial four exploration prospects. These probabilities are encouraging, ranging from 9%-35% for various zones within the four prospects. The prospect sizes themselves are very large, with the initial four estimated to contain between 400m and barrels of recoverable oil each. Success at any of these wells would be transformational for the group – market forecasts based on a NPV15 of $8/bbl highlight that even the smallest of the four initial
prospects could be worth 80p/share, even if it is assumed that the group farms out half of its current 100% holding. Despite this positive news, in the short-term the key obstacle the company faces is gaining environmental approval from the Bahamian Government to begin drilling; the economy is in difficulty (with the key tourism industry under pressure) and the country is due to hold national elections before
May 2012 to elect a new Prime Minister.
Drilling is due to start in neighbouring blocks off Cuba in Q2 2012. The US Geological Society estimates Cuba’s reserves at 20bn barrels and a first well is to be spudded by Repsol this month; a further four wells are planned by Repsol and other non-US companies before mid-2013 and success here will have positive implications for those seeking to drill in Bahamian waters. Optimists believe that the Bahamas/Cuba Basin could be as large as some of the biggest in the Middle East or Kurdistan. The shares remain a high risk:reward proposition

The last retracement was fast after reaching 8.90p intraday,
but then there was a steady up movement culminating
on today's higher volume and BREAKOUT

----------------------------- 3 month ---------------------------------------------------------- 8 month -------------------------

Lovely lovely day ! :)

spread 9.78 / 9.85p +0.85p

Further large movement up this morning, with very large volume already 18M almost like yesterday and is only 1 hour of trading

Nice surge on this.....perhaps Repsol have encountered something.....

Don't know, don't care, sold three quarters today - lovely profit.

Hope you are still in mitzy.
2517