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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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.

Cheers....fingers now crossed for BOR and FOGL....might be back in this on monday.....will have to see what the weekend press have to say about BPC....

Could lose all licenses and this is history.

if elected government is against foreign oil companies, then BPC has no tangible assets if licenses are not renewed.

Statement regarding share price movement

Bahamas Petroleum notes today's movement in the Company's share price following recent press articles published in The Bahamas.
The Company does not have any comments to make during the run up to government elections in The Bahamas scheduled for Monday 7 May 2012.
The Company is not aware of any other reasons for the movement in its share price.

http://www.thenassauguardian.com/index.php?option=com_content&view=article&id=29381:christie-confirms-link-to-oil-company&catid=3:news&Itemid=27

.

and how many of you guys are in this little clunker?

Just me then by the look of it, having bought @ 4p I have done extremely well out of my BPC sales, yes I still hold a batch and am happy to do so, even though they have plummeted today I am well in profit on my holding. That may well change next week but hey ho BPC was one of my better buys.
2517

http://www.tribune242.com/news/2012/apr/20/call-for-government-to-come-clean-on-oil/

.

No mention for this one this weekend ?....

All noise and speculation at present, but a little encouragement for those grimly holding on. That includes me!

23 April 2012

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

License Update

The Company confirms that its petroleum exploration licenses state that; "where the licensee applies for renewal and has complied with the Act, Regulations and the terms and conditions contained in this license, the Governor-General shall renew this License for a further period of three (3) years."

Bahamas Petroleum Company believes it has significantly exceeded all license commitments and obligations with cumulative expenditure in excess of $50 million.

The Company is already working to fulfill the increased requirements of this next three-year phase.

Done just what it did 2 years ago....deja vu...

Canaccord Genuity - UPDATE

Bahamas Petroleum - BPC

BPC saw its shares slide sharply on Friday following a news report that the incumbent Prime Minister had said he would ban exploration drilling offshore the Bahamas if he is re-elected on May 7th. Shares fell as much as 37% before stabilising to end down 24%, or a 10-week low.

This looks like populist electioneering by the PM and I wouldn't put too much weight behind it - in the ruling party FNM's election manifesto there is not even a mention of offshore exploration.

The sheer scale of the exploration opportunities in the Bahamas make it highly likely that these will be drilled at some point. A CPR commissioned by BPC last year identified at least four drillable prospects with estimated recoverable reserves of between 400 million and 1.3 billion barrels of oil.
At an NPV15 of $8/bbl even the smallest of these could be worth 80p/share (vs current 6.6p/share), even if we assume the group farms out half of its current 100% holding. Or in more simple terms, a 1 bn barrel oilfield would likely generate revenues of around $10bn in its first full year of production (assuming 10% of the reserves are produced), equating to the GDP of the entire country last year.

We still envisage a scenario whereby BPC brings in a partner before year-end and secures a rig for early 2013. At Friday's close I'd say the shares are definitely worth a punt.

Finlay Thomson
Oil & Gas Specialist Sales