Noblenoggs, I ticked up your post when I read 'peek' thinking you meant a 'peak' in the SP for old time's sake. We could be due another peak with licensing news round the corner to let us know we are still in with a chance on this high risk/high reward play.
It's around the weekly/monthly average, but we shouldn't be far away from the confirmation or otherwise!...
Bearing in mind the positive noises coming from the Gov recently we should be OK for the extension in theory at least. What we need is action and confirmation from our BOD (whom work for us by the way) that they have received offers or not and if so why they were rejected. I don't believe that it will adversely affect our negotiating position to say we have received an offer but the equity retention split was too low, therefore rejected. All it tells interested parties is that we won't roll over, whether that is good or bad in the current market is a different matter. Pragmatism may be needed and share option considerations are hopefully not getting in the way.
Apologies Tot, I see where you are coming from now. The two trades at 12:31 and 13:14 have a question mark by them on MoneyAM whereas on LSE they are showing as "sells" and that is of course debatable.
I see another 1.6m trade going through after hours again, however, on LSE shows as a "buy" and on MoneyAM has a ? mark as they can't say whether it was a buy or a sell. Interesting pattern of after hours trades though.
Not Capped as far as I know JBT. CEO has accrued about 100 million shares so far by my reckoning and is owed about $1m in cash if a deal is done by this April. Other Board members are part time and not on big bucks so added together a guess wud be another 50 million shares. They will be new shares issued so some dilution
Summary of Remuneration Deferrals
From 1 April 2016, the following payment deferrals will take effect:
· 90 per cent. of the Chief Executive Officer (CEO), Simon Potter's compensation will be deferred until a farmout is successfully concluded, to be repaid at that time in a 50 per cent equal mix of cash and shares (calculated on the basis set out below); and
· 50 per cent. of Board fees will be deferred until a farmout is successfully concluded, to be repaid in shares at that time.
The number of shares to be calculated remains on the same basis as the existing 20 per cent. fee deferral agreement for Directors, which has been effective since 1 October 2014, namely that the number of ordinary shares accruing shall be calculated as the value of fees/salary forgone divided by the volume weighted average closing price of the Company shares over each month.
Anybody know if they are capped? If not they should be otherwise certain people are going to own more of the company than we are! Slightly tongue in cheek, but any further delays are financially beneficial to the directors at the expense of the rest of us and there is a balance to be struck. It's becoming disconcerting that the balance is shifting away from the average shareholder IMO. Don't get me wrong I don't begrudge Simon or anybody else profiting hugely if they pull this off but there is now a potential conflict of interest and my view is that the remuneration shares should be capped as this option is already diluting the company.
I couldn't disagree with your logic Uncas but on the other side of the coin, the availability of port , terminal and refining facilities would no doubt be a deal sweetener to any company looking to farm in to BPC's license and fund a drill.
At times like this I tend to only look at what the big money is doing and if you look at the timing of all the trades of 1m or more shares today they are buys, as were the two large trades reported after the market closed yesterday @ 1.525.
I am following the money and expecting a Monday RNS.
U are correct Tatty, this was announced last year and if BPC went bust instead of raising cash it wud still be going ahead as planned.
If we get a partner to fund the drill there still may not be any commercial oil so no investment in Freeport facility at this time wud be based on Bahamas becoming a producing Nation.
They been doing it and making a profit since 1967 long before we came along in 2005
I fail to see the direct connection between the oil storage and Bpc. We still need someone to drill and find the black stuff first. If bpc manage to get a drill going and find oil before the end of 2018, I'll run round Piccadilly circus naked on New Year's eve with a daffodil stuck where the sun don't shine.
Be good if it was, but I'd be surprised. The announcement today isn't connected to BPC as far as I know. I fear that we are some way off an announcement that directly affects us, but we can hope. I'm showing a very healthy profit at the moment, but I don't think that it will last long I'm sorry to say. I hope that I'm wrong though!
I'm pretty sure that this project was announced some time ago. Don't think that it is anything to do with BPC, the Bahamas have always been big on oil storage and refinery etc. Shame but it's certainly boosted the share price temporarily...
Thanks, I have been quiet for a while but there are signs that many AIM shares are now awakening from a deep sleep! Blue chip shares are high so investors will be looking at the AIM market more in the next few years.
OIL & GASBAHAMAS
Bahamas approves US$5bn oil complex
By David Casallas
Thursday, February 15, 2018
Bahamas approves US$5bn oil complex.
Bahamas' government has authorized Oban Energies to begin development of a four-year US$5bn oil refinery and storage facility and associated deepwater marine terminal on Grand Bahamas.
Prime Minister Hubert Minnis made the announcement in parliament where he said that a heads of agreement will be signed on Monday.
A US$1.5bn first phase envisions refinery and storage capacity of 50,000b/d and 4Mb while a US$3.5bn second phase would take capacity to 250,000b/d and 20Mb, according to the company, which points to "a current shortage of liquid bulk storage locations in the Caribbean."
Oban adds that "the terminal will play a key strategic role as one of only two facilities close to the US Gulf and East Coasts for deep water marine terminal servicing of crude and other products."
Project partners include Islands by Design (environment-related project consulting), Andrews Kurth (legal affairs), GBP Holdings (fuel logistics), Mosko Group (civil engineering and construction), Stifel, Nicolaus & Company (brokerage and investment banking), Drexel Hamilton (broker-dealer and infrastructure banking) and TECS (project engineering).
The Bahamas already is home to the 26Mb, eight-berth Buckeye Bahamas Hub which according to Buckeye Global Marine Terminals (BGMT) is the largest petroleum products terminal in the Western Hemisphere. BGMT also operates facilities in Puerto Rico and St Lucia.
The Caribbean nation also looks to develop its upstream hydrocarbons potential with very early stage activity being carried out by Bahamas Petroleum.
FREEPORT, Grand Bahama -- Prime Minister, Dr. the Hon. Hubert Minnis announced that his government has approved Oban Energies to commence an oil refinery and oil storage facility in Grand Bahama.
The project is expected to create 600 direct jobs, 1,000 indirect jobs during construction and an estimated project cost of over $4 billion.
The Prime Ministers announcement came at the start of the sitting of Parliament on Wednesday, February 14, 2018.
My Government has recently completed negotiating the Heads of Agreement which paves the way for the commencement of this important project, said Prime Minister Minnis. This Heads of Agreement articulates how this development can proceed.
The Prime Minister said the Heads of Agreement will be signed on Monday, and that over the following two weeks, two additional Heads of Agreements will be signed.
We are on the road to revitalizing both Grand Bahama and the entire Bahamas, added Prime Minister Minnis.
I bought in again for another £5000. That isn't the 1m buy you refer to (nearer half of that) but, hey ho ---
Either BPC find a partner and we all make money, or they do not and we all lose everything.
Reminds me of Cheltenham races and Eurovision.
However, even at this early stage, I reckon I know the winner of the Pong Contest.
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