rogk
03 May 2018
Re: Someone wants their money back Data room been open for ages. Make your money and then get out. AIMO
rogk
03 May 2018
Someone wants their money back Sell into the rise. IMO
macjock
03 May 2018
Needed that news When I was at and still at 11.2p 
Tatty
03 May 2018
Re: Confidentiality and Exclusivity Agreemen... Fingers crossed this results in a discovery drill within 12 months.
Clod12
03 May 2018
Re: Confidentiality and Exclusivity Agreemen... Hallelujah - got to be a great chance of a deal being done here now. No-one pays a non-refundable $750k unless they're extremely serious.
arborman
03 May 2018
Re: Confidentiality and Exclusivity Agreemen... Great news, now let’s play at speculation, what price for 1 share at the end of the day? 2p...
Chocolate Chip Cookie
03 May 2018
Confidentiality and Exclusivity Agreement. [link] Petroleum CoConfidentiality and Exclusivity AgreementRNS Number : 9562MBahamas Petroleum Company PLC03 May 2018 Thursday, 3 May 2018 Bahamas Petroleum Company plc("BPC" or the "Company"
Confidentiality and Exclusivity Agreement (the "Agreement" Bahamas Petroleum Company plc, the oil and gas exploration company with significant prospective resources in licences in The Commonwealth of The Bahamas, is pleased to announce that it has entered into a Confidentiality and Exclusivity Agreement with a major international oil company (the "Counterparty" to conclude a detailed technical evaluation of the Company's licences in The Bahamas, and at the same time seek to develop a commercial framework for a potential transaction. Whilst to date the Company has been working with a number of major oil companies in conducting an evaluation of the Company's licences with a view to concluding a mutually beneficial commercial transaction, under the terms of this Agreement, the Company and the Counterparty will now work exclusively together for at least the next three months. The Company will receive a non-refundable cash payment of US$250,000 per month (US$750,000 in aggregate) for the initial three-month period of exclusivity with an additional US$250,000 per month for any extended period of exclusivity, such extension at the option of the Counterparty, up to a maximum of a further three months. These amounts will be reflected in BPC's income statement as and when received. Unless and until a definitive farm-in or other commercial arrangement is agreed with the Counterparty, its identity will remain confidential. Given the exclusivity arrangements provided for in the Agreement, discussions and negotiations with other potential partners have been suspended for the time being. It is noted that despite entry into the Agreement, no assurance can be provided that a commercial transaction will ultimately be concluded with the Counterparty, or on what terms, or in what timeframe. The Company will provide further updates as required. Simon Potter, Chief Executive Officer of Bahamas Petroleum Company, said:"The decision to enter into an exclusivity agreement with a reputable international industry operator is a significant step in our ongoing process to secure a partner for our highly prospective assets in The Bahamas. We look forward to working closely with the Counterparty over the coming months, and we will update the market of any material developments as and when appropriate."
Clod12
01 May 2018
Good read in the Tribune Oil exploration in Bahamian waters is one step closer to reality after an application for environmental approval was submitted to the Government late last week.#Bahamas Petroleum Company (BPC), which has spent more than a decade on its exploration project, confirmed it has "lodged an application for Environmental Authorisation" with the Ministry of the Environment and Housing over its plans to drill a first well in waters south-west of Andros.#Simon Potter, BPC's chief executive, told Tribune Business yesterday that the submission was another "step" in the process to 'spudding' that first well, having taken two years to complete.#He added that it would aid BPC's search for a joint venture partner, which has received a further boost in recent months from the increase in global oil prices to over $70 per barrel.#This, Mr Potter explained, had made the Bahamas - and specifically BPC's project - "quite attractive" again to oil industry players whose exploration appetites have been stoked by the rise in global prices and potential profit margins.#He further described BPC's prospects of discovering commercial quantities of extractable oil as "the best I've seen", based on the company's $100 million investment to-date in obtaining seismic data and 'de-risking' the project.#BPC is currently working on a 'parallel track', which involves obtaining the necessary environmental approvals from the Government at the same time as it seeks to secure a 'farm in', or joint venture, partner to share the financial and technical burden of drilling that first exploratory well.#The 'Environmental Authorisation' submission indicates that BPC is likely making progress on its joint venture partner search, although Mr Potter declined to provide details on this aspect of the company's work.#He branded the application as an "intense piece of work" that took two years to complete, but which was required under regulations passed by the former Christie administration in 2016 to specifically govern offshore oil exploration in Bahamian waters.#"Commencing field operations is a complex process, and involves several steps. This is one of them, and a new one mandated by the Government," Mr Potter told Tribune Business.#"The Government came forward with some specific new regulations, which expanded the process for commencing all field operations, including that of exploration, to include a new step.#"This is a tier of authorisation in the Bahamas that is unique to petroleum operations, and certainly as a company BPC embraces any and all acts by the Government seeking to further better environmental oversight and governance. We intend to fully comply with it."#BPC's submission was made in accordance with the Petroleum (Offshore Environmental Protection and Pollution Control) Regulations 2016, and its application will now be scrutinised by both the Ministry and the Bahamas Environment, Science and Technology (BEST) Commission.#Obtaining the required 'Authorisation' was described by BPC as "the first step in commencing offshore field activity", with Mr Potter branding it as "the in-depth part" of the company's environmental compliance.#Apart from the Environmental Impact Assessment (EIA) completed in 2012, BPC's latest submission also includes an Environmental Management Plan (EMP). Mr Potter said other features involved "safety plans and systems, engineering plans and designs, quite a lot of scenario planning - 'what happens if', and all specific response plans".#The BPC chief executive added: "This is required by the new regulations, and goes down into quite some details. It goes all the way down to garbage and how we will handle waste water. It also includes an environmental sensitivity map that covers all the western islands of the Bahamas, including land use maps that go down to 5 kilometres x 5 kilometres.#"This is a process, and this is the next step in the process. This is an intense piece of work
JBT2007
30 Apr 2018
Re: Bpc Thank you for clarifying...
welshwiz
30 Apr 2018
Re: Bpc All comments are my personal opiniongla
WhiteBat
30 Apr 2018
Re: Bpc Hi WelshWiz,I've given you a vote as you called it bang on for Regal - was around 5p in Nov and now 22p+!Let's hope the same thing happens to BPC!WhiteBat
JBT2007
30 Apr 2018
Re: Bpc Hello Welshwiz, can I ask is there a source for this information or is this your personal opinion? TIA.
welshwiz
29 Apr 2018
Bpc Stale bulls are/have been exiting after a torrid time with BPCNewer investors are coming in and seeing the bigger picture.The higher oil price and relative support from the Bahamas government is de-risking this project significantly.I believe ( and not from a Bpc source) that a partner is ready and maybe the company know of 1 other that is ready to take on the project as long as the Gov give the green light to drill.This will be a paper exercise BPC have spent more than the cost of a drill on seismic/technicals and have a higher than average cos I know of certain individual buying millions of BPC recently Personally I am looking for a re-rating in the vein of RPT when things have become clearer.I am sure the chatter will increase substantially when herd mentality kicks in and new investors discover what is at stake here....multi billion barrels of oil with infrastructure close at hand Gla
Hallowed
28 Apr 2018
Re: news alert The weekly trend still intact though 
) Let's see what happens next week.
Fatal Charm
27 Apr 2018
Re: news alert wiz, get rich quick computers methinks
