Web site : https://www.bpcplc.com/

Bahamas Petroleum Company is an oil and gas exploration company with 100% owned offshore licences exclusively focused on the Commonwealth of The Bahamas.





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Had to start a new thread, could not read the posts on the other one as the header kills it.


Anyway, exciting times and in discussion with a Major Oil company now about a farm out deal - cash plus free carry's.


Broker note 8th June 2018: https://we.tl/UYpZJGIaG0


I hold a significant about, purchased around the 1p level. Finally the time is here where this could be exciting.

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http://www.tribune242.com/news/2018/jun/14/oil-explorer-targeting-window-of-opportunity


By NEIL HARTNELL
Tribune Business Editor
nhartnell@tribunemedia.net

An oil explorer is aiming to seize "the current window of opportunity" to drill its first Bahamas well after five years of regulatory and oil price-related delays "abated".

Simon Potter, Bahamas Petroleum Comp......................................................

Bit of a tick up end of day yesterday, certainly moving into the interesting time period now where news could come at any time, be that news the EA or the farm out.

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Been some chunky buys on BPC of late and the price has resumed an upward trend again.

Hopefully some news is around 1 to 2 weeks away, could either be news from the proposed deal with a major or news on environmental approvals. All in all very speculative still, however with only a 53M market cap and potentially a major deal, there is a lot of potential upside as well as of course downside on no deal.

The back costs spent by BPC over the years and the value of the data they have now has to be worth, in my view, at least 250M and if a major comes in with a deal worth that for a 50% share you can certainly see where the valuation upside comes from being just a 53M market cap now.

However should no deal happen then there is always the chance of going back to a sub 10M market cap.

Speculative it is.

Decent rise today, the upwards trend continues.

The rise continues so far........decent volume as well...........10 million shares traded in the first 2 hours.

Crikey first bought these over 8 years ago nice rise again today.

Rumours abound, as you might expect. My long term holding may at last provide a good short term profit!😃

In profit from 4.31p and will continue to hold them.

Will be some resistance at this price.........a lot of holders of many years are moving into breakeven and a small profit and will be selling.

I am happy to hold. Buying at circa 1p levels, already sat on a fat profit........but hey........why not be greedy.

Risk is still there.........the risk/reward is still attractive for me. Many will be scared by the risks.

I never topped up at those prices Proselenes as I felt I had more than enough invested in BPC, but well done you and I suspect many others that did buy then.

I just wish I bought more at that time.......... but there you go.

I hope the price has been pushed up to this near 6p level in order to fill buy orders........ getting it back to a level where many holders of years ago are back at breakeven will encourage them to sell.

Hopefully this week is a week of consolidation in the 5p to 6.5p range.........get all the old holders out and get lots of new holders in.

Then its primed for good news.......and hopefully not bad news !!!!!

I did a top slice earlier. Left it so that my remaining large holding can be sold for 0.5p a share and it will mean my initial investment is covered. So bad news will now have no negative effect whilst good will have a tremendous positive effect.

The RNS today does state that they are still working on the technical evaluation, and that has to be concluded before the commercial can be done. So based on that RNS I would assume that there could be at least a months extension now, to allow time for the technical to be concluded and then a commercial agreement concluded.

Hopefully it will be concluded earlier and with a positive outcome.

Did the same myself, if the next news is good I will have to be quick to trade again!

The most important thing is to protect your capital whilst exposing yourself to lots of upside potential - and top slicing is the perfect way to do so kimoldfield.

Fingers crossed now for a good deal in the months ahead.

Good consolidation on BPC around the 5p levels..............news will be in the next 2 weeks methinks.

I would expect news this coming week or next.......so the excitement is going to build again I am sure. Deal or no deal..........thats the question. A deal should see at least 10p a share value, could be a lot more. No deal and well.....down it will go.

Interesting RNS

https://www.investegate.co.uk/bahamas-petroleum-co--bpc-/rns/changes-to-ceo-contractual-terms/201808060700068519W/

One must assume therefore the Major wants to be able to change the CEO with minimal costs...and so reducing the salary of the present CEO and limiting pension liabilities is required by the Major. In effect telling the present CEO you are going to get rich off of the shares, so we will cut your salary and stop pension contributions.

Very positive imo.........end game of a deal must be getting close now.

Quite active this morning things seem to be warming up.