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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Oilbarrel March 19, 2012 Conference Report 1: Bahamas Petroleum Company Is A Hit With Delegates
http://www.precogz.com/home/

Real bad news... SELL


The Bahamas Petroleum Company (BPC) permits to drill for oil in the Bahamas will expire on April 21st, 2012. There has been no word by the government on whether new permits have been issued or are going to be issued.

According to BPC’s website, “the Governor General shall renew the licenses for another three years, provided the Company commits to drill an exploration well and spuds the well before the end of the first renewal year, i.e., by April 26, 2013.”

In a letter dated February 2011, BPC asserts that it has, “Fulfilled the commitments of the current licenses and that it intends to continue the exploration program into the next extension (through 2015). The intention is to spud the first well in 2012 and no later than April 26, 2013.

This is indisputable evidence of the government’s intentions to allow BPC to drill for oil in the Bahamas and proves what Ben Albury, the Democratic National Alliance (DNA) candidate for Montagu and the DNA party has been saying for months now.

Additionally, some of BPC’s legal teams consist of prominent members of the PLP. This has caused much concern in the DNA and the Party sees this as a conflict of interest. Jerome Gomez, the Killarney candidate is the resident manager at BPC. Phillip “Brave” Davis, senior law partner at Davis & Co provides legal advice to BPC. Gomez and Davis are the PLP candidates for Killarney, and San Salvador, Cat Island and Rum Cay, respectively.

BPC might be a Bahamian registered company, but we know that foreigners to date have reaped all the rewards from the sale of this company’s shares on the London stock exchange.

DNA leader Branville McCartney said, “All I want is the Prime Minister to tell the Bahamian people the truth about oil exploration in the Bahamas. Experts have been telling us that the oil deposits in the Bahamas are worth more than $1 trillion. This isn’t BTC. This is 1000 times bigger than BTC. The prime minister continues to play with the future of the Bahamian people. His submission in the Nassau Guardian today that there will be no oil drilling under the FNM is unsubstantiated and is only a smoke screen to deter the DNA from pursuing the truth.”

The DNA believes that the proceeds of this industry will transform the Bahamas into a country rich with growth potential.

Mr. McCartney further said, “The DNA believes in empowering Bahamians. Under a DNA government all Bahamians will thrive. We will not negotiate secret deals where only a few Bahamians profit. We will not allow foreign companies to reap hundreds of millions dollars in profits and leave the scraps for Bahamians.”

Our pledge is to continue to shed light on oil drilling in the Bahamas. The FNM and the PLP have not been forthcoming with information. We should be having monthly town meetings and the government should have launched its own website that hosts information on the proposed drilling of oil in our waters.

Bit of a shocker.

The time to sell was the recent 16p, imv now is a possible buying opportunity, 'he who dares'.
2517

Haven't we had this before ?...a sense of deja vu ?....

In trouble ?

http://www.thenassauguardian.com/index.php?option=com_content&view=article&id=29257

http://www.thebahamasweekly.com/publish/bahamian-politics/DNA_on_Expiring_Oil_Exploration_Permits21500.shtml

.

Thats right George 16p was the time to sell... but what now..?

Have they been late in issuing the license before?
What will happen if they fail to get it?

Taken a position......could be a fantastic rebound.....might just be ironing out last details...

Just got back home from the garden centre, the slight recovery taking place earlier has reversed, mitzy you pays yer money and takes yer chance, for me I shall stick with what I hold, I have been taking profits in a few co's where there was profit to take in order to build up my holding of cash for when/if the ftse drops over the summer months. I still hold several minnows, some winners and some losers.
Good Luck
2517

good luck george.

The way I interpret this is that they can still get a rig and drill but it's the licence extension that has not be granted yet but still time to find oil first....have a job to refuse them if they come up with a couple of hundred million barrels...or am I completely off the mark ?.....

Cheers mitzy, got a feeling I might need some where BPC is concerned. Nice 100/1 ew yesterday.
2517

RNS : The company does not have any comment to make in the run up to the elections early may....not the exact words but looks like the drop is ridiculous !....

rf, it's the final sentence that may be key, especially the word 'other'
2517

Euuhhh....this looks like a future serious play....now it may take time to get a rig but you cannot just get rid of existing licences (unless your in Argentina)......

Well...took a quick buck on this....will be back later, £860.... for an hour and a half ...not to be sneezed at.....

Well done rf, that's the way to do it. Where have I heard that punch line before.
2517

Not every day : that can be done so quite pleased.....I hope that with BOR and FOGL it does not go down the plughole.....dear oh dear....

well done rf.