(BPC.L) BPC Ltd Buy/Sell

Many thanks

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1)In the peacefull region of the Bahamas
2)Multiple licences bought cheaply. So they can farm out with very little cost to BPC
3)22 area identified as possible areas to drill from information from previous
explorers.
4)They have a JV partner
5)Low royalty costs for oil.
6)Very experienced BPC team
7)Massive potential.
8)Seismic to start in 2010.

The Rns bellow gives an insight into BPC.


RNS Number : 3830S BPC Ltd 18 May 2009

BPC Limited and StatoilHydro to Reopen Bahamian Energy Exploration with Offshore Joint Venture

Venture Marks First Major Bahamian Exploration Project in 22 Years

PERTH, Australia-- Energy exploration company, BPC Limited (THE COMPANY: (AIM: 'BPC') today announced a new offshore joint venture with Norway's StatoilHydro (OSE: 'STL', NYSE: 'SO') to launch the first major exploration project in Bahamian waters since 1986.

A competent persons report, published last year, stated that there could be multiple 500 MMBOE oil fields in 18 leads recognized in BPC's southern Bahamas licenced area (source: Competent Person's Report by Moyes & Co., Inc. contained in BPC's AIM admission document, August 2008). The CPR evaluated BPC's licenced area adjacent to and along trend of the 'JV' area.

Additionally, a U.S. Geological Survey (2008; Report DDS-69-M) study of the offshore northwest Cuba Basin estimates a potential of 7-14 billion barrels equivalent (oil and gas) of undiscovered resources.

Exploration Vice President Erik Finnstrom, StatoilHydro states "This joint venture strengthens StatoilHydro's position in this attractive exploration region of the northern Caribbean."

Joint Agreement with StatoilHydro

The licences included in this joint venture agreement with StatoilHydro ("Joint Agreement" or "JV") are new licence areas for BPC in the south west of The Bahamas and are still under application pending the approval of the Government of the Commonwealth of the Bahamas. The "JV" area is adjacent to four wholly owned licenses held by BPC in The Bahamas, as well as near an existing license held by StatoilHydro in adjacent Cuban waters.

The "JV" Agreement is conditional on the relevant new licences being awarded to BPC and assignment with StatoilHydro. It is hoped the applications will be processed before the end of 2009.

The last active exploration in the Bahamas was in 1987 by Tenneco, whereas along trend in offshore Cuba the same petroleum system is the focus of current exploration activity.

BPC's Chairman, Alan Burns said:

"We are delighted to partner with a respected industry leader like StatoilHydro. It is testament to the prospects of the southern Bahamas and to BPC's contacts and commitment to the region that a large business such as StatoilHydro sees it as an important addition to their exploration portfolio. The terms of this agreement will strengthen BPC's capital position and eliminate the need for near-term fresh capital funding for the 'JV'.

Both companies are committed to preservation of the environment during all phases of exploration and development.

StatoilHydro is an integrated technology-based, international energy company, primarily focused on upstream oil and gas operations. The Norwegian headquartered StatoilHydro, is listed on both the New York Stock Exchange and Norway's Oslo exchange."

The presentation gives a better view of events.

http://www.bpcltdgroup.com/main_site/file_uploads/downloads/October_2009.pdf

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Thanks Mr R. I am excited - and apologies to board for going off board to that extent.

Bought in here on Friday on a tip and the more I read the more happy I am becoming.

My daughter has asked me to put some of her savings into a share for a number of years to help her pay off any student loans. I have guaranteed her initial stake on the basis that she starts to get to grips with the stock market and the company we select together.

Bpc has just entered the running - will be discussing it with her tomorrow.

GKP I sadly traded at a much lower sp. I was not good at holding then - guilty of overtrading.

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Thanks for your o/t posts, i can see your reason for your excitement.

The reason i am invested in BPC is that it will be working in an area of long term political and economic stability. Although we are at the beginning of the journey for BPC i am comfortable with my investment.

I have a large investment in GKP which has a political risks attached. This is a source of stress. At this point i am avoiding investing in other companies with political instabilities. Although Columbia does seem to be improving. I wish you all the best with your investment Ticker2000.

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well currently we're producing 1815bopd if u take the figures from recent RNS announcements.........

PELE…….

colon2 - 664bopd on a restricted choke flowed at 1200bopd
colon1 - 400bopd pump to be put in place to increase production
chuira1 - 40bopd this to restored back to full production (180bopd)
los angeles 11 - 220bopd
los angeles 12 - 300bopd
los angeles 14 - 191bopd

worst case scenerio on the above would be 1815bopd

1064 x 80% x 365days a year x $79 / 1.67 = 14,697,216

40 x 85%x 365days a year x $79 / 1.67 = 587,059

711 x 45%x 365days a year x $79 / 1.67 = 5,524,406

total revenue £20,808,681 x 50% costs, royalties & taxes = £10.404million net profit

Using a P'E ratio of 10 and a 10% discount would give us an sp of

10.404 x 10% discount x 10 / 45.55 = 205p

but theres lots of wells that could of improved since these announcements............

colon2 - could well be off a restricted choke and producing at higher flowrates

colon1 - pump could now be in place to improve output

chuira1 - restored back to full production

if these are now back producing then we could quite easily see......

approx 2500bopd

colon2 – 1100bopd
colon1 – 500bopd
chuira1 – 180bopd
los angeles 11 - 220bopd
los angeles 12 - 300bopd
los angeles 14 - 191bopd

1600 x 80% x 365days a year x $79 / 1.67 = 22,101,077

180 x 85% x 365days a year x $79 / 1.67 = 2,641,769

711 x 45% x 365days a year x $79 / 1.67 = 5,524,406

total revenue £30267252 x 50% costs, royalties & taxes = £15,133, 626 million net profit

Using a P'E ratio of 10 and a 10% discount would give us an sp of

15.133626 x 10% discount x 10 / 45.55 = 299p

……………………….

Then we have two wells in LA field that should be online or thereabouts now if successful.......

Looking at the other wells there producing an average of 237bopd, so if we use 200bopd per well for valuation purposes

that would take us to 2900bopd......

200 x 2wells x 45% x 365days a year x $79 / 1.67 = 3,107,964

50% costs, royalties & taxes = £1,553,982 million net profit

Using a P'E ratio of 10 and a 10% discount would give us an sp of

1.553982 x 10% discount x 10 / 45.55 = 3.4p

Would take us over 300p

302.4p

.................................................

"Tribeca's Mendez said Petrolatina, for example, produces about 2,000 barrels a day now. He anticipates a production boost to 10,000 barrels a day within three or four years. "

10000bopd is very possible...........

if we're producing 2900bopd going into 2010, we then have the zoe well hopefully online early 2010 and then i hope they have a full scale attack on the colon field with the additional 7wells..... if sucessful then these wells could produce in the region of 500 - 1200 bopd............ quite easily take us 6000bopd +

at present i see us very undervalued with a market capital only 28million MXP produce 2000bopd and are valued at 65million and this would be much higher if there wasnt a persistent seller on the books............

A great short and long term play................

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Some more work on calcs - the rest on pele board.

Hope it is of interest.

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You need to see the calcs by dicko and others on the board to see what this means - basically undervalued, only around 20m shares in public hands and lots of news to come.

Confirms what we are waiting for in an rns.

Colombian Oil Output Soars As Pro-Market Policy Bears Fruit
Date : 20/11/2009 @ 17:59
Source : Dow Jones News
Stock : Exxon Mobil Corp. (XOM)
Quote : 74.38 -0.27 (-0.36%) @ 21:38
<< Back Quote Chart Financials Trades Level2


Colombian Oil Output Soars As Pro-Market Policy Bears Fruit





By Inti Landauro
Of DOW JONES NEWSWIRES

BOGOTA -(Dow Jones)- Colombian government endeavors to open the oil industry to private companies and lure investors with attractive conditions and reduced levels of violence are finally paying off, with crude output in the country soaring.

The government oil-licensing agency known as ANH said this week that Colombian and foreign companies operating in the country produced an average 704,000 barrels of crude a day in October. The figure is the highest in a decade and 34% more than the average in 2005.

"This is the result of the government's efforts, and I'd say that figure can easily double in the coming years," said Ciro Mendez, the investment manager of local private equity fund Tribeca Capital, which has parked $30 million of its money in the small oil producer Petrolatina Energy PLC (PELE.LN).

Since he took office in 2002, President Alvaro Uribe has pledged to crack down on Marxist guerrillas and revive a flagging economy.

The government has lifted restrictions on foreigners operating in Colombia's oil industry, attracting private companies with lower royalties and improved security in the country's jungles and mountains. The number of rebel attacks on the Cano Limon pipeline, one of the preferred targets for guerilla groups, fell to only 13 in 2008 from 170 in 2001.

In the past few years, the Colombian government has granted rights to explore hundreds of areas across the country to a wide range of firms, from small local ventures owned by a few engineers to the world's largest companies such as Exxon Mobil Corp. (XOM) or BP PLC (BP) and emerging players such as India's Reliance or China National Petroleum Corp.

In early December, ANH will begin the process of awarding rights to more than 100 lots all over Colombia. The process is scheduled to end in June.

In 2007, the government partly privatized state-owned oil company Ecopetrol SA (ECOPETROL.BO), which then embarked on a massive $60-billion, eight-year investment plan.

The government also has built a reputation for Colombia as a country where contract terms are respected--unlike oil-rich Venezuela and Ecuador, where governments have seized assets without always paying fair compensation.

The positive mood in Colombia has even pushed Venezuelan oilmen to seek jobs next door. The best example is Canada-listed Pacific Rubiales Energy (PRE.T, PEGFF), which accounts for much of the recent oil output increase and is run by Venezuelan engineers.

The effects of Uribe's pro-market policies were slow kicking in, and oil production continued sliding from 2003 to 2005. No significant increases were registered until 2008, when a number of small projects began yielding results.

Tribeca's Mendez said Petrolatina, for example, produces about 2,000 barrels a day now. He anticipates a production boost to 10,000 barrels a day within three or four years.

In 2003, industry analysts reckoned the country would lose oil self-sufficiency in 2007, as output was falling while consumption was up. Now they see the country keeping its oil-exporting-nation status until 2018, and probably beyond.

"It's not an issue anymore, not an immediate one at least," Mendez said.

The one thing Colombia still lacks is a big discovery. Proven reserves were 1.67 billion barrels at the end of 2008, but government officials and oilmen such as Mendez are pretty confident somewhere in Colombia--in

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Post it and i will take a look. There are no nutters on this board so post here if you want!!

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lol - I def meant pele - did you take a look a the news that was found?

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I think you meant PELE.L

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ComboMambo Thanks alot i followed your instructions and have learnt something usefull. Thanks very much.

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Thank you. I am with ADVFN and can see all of todays Plus trades.

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The questions been answered. Does anyone know how to buys and sell by trade on plus - cannot seem to find this. I had got as far as the last message.

Take a look at pepe over the weekend all - a poster has just found an article that confirms what the holders have been waiting for - mm's may or may not know about it monday am. Could be a chance to get in - sorry for going off board but it great news.

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Mr. Reliable - follow the link in Catch24's message. On the left of the page it takes you to, click "Market data", this will give you the list of trades. At the botton of the list click the right arrow to go back to the time you require. There is a trade:

19/11/2009 08:43:53 3.70 100,000 NB 3,700.00

which could be yours.

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Mr Reliable,
You can view the last 5 trades on Plus for BPC here:
http://www.plusmarketsgroup.com/details.shtml?ISIN=FK0020041496/GBX/PLUS-exn

If you want to see the lot, if you're registered on ADVFN, go to their site, click on the "Trades" tab and enter the ticker PLUS:BPC.GB
The .GB suffix is for the Plus market rather than the usual .L
Hope this helps

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Ticker2000 I bought another 100000 yesterday morning which must also have gone through plus as i could not see my trade at 08:44 3.7p. I am not sure how we can view these trades any ideas anyone.

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Thanks argrigento for tip. Noticed the work quick!!!! Think you were referring to the time I took to get to amer!!

Purchase 6.5k worth must of gone through plus as it did not go through lse or l2.

Good luck all

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Get Level 2 now for only £20.00!

Have to say that I'm getting a little twitchy as whether to buy in yet or not. Certainly the largest trading volume we have had in a day for a month or so, so something is up. We did have two 4.8M trades that looked like sells on the 3rd Nov. Wonder if it is the same person buying back in?

I'm dreading waking up and logging on to see a RNS confirming the JV licenses have been granted and the opening price to be 6p! Sorry, very selfish of me I know. GLA!

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Listed are the major shareholders and other directors in BPC. If any of the listed major shareholders bought today then we will see an rns stating that they have increased their holdings. Otherwise a new major shareholder may be building up a stake. A trade of 10million shares followed by 5 more trades of 500000 tody. If they buy 26.88 m shares in BPC then they will have to anounce to the market that they have a 3% holding. Interesting days ahead i think!!

name==========shares===percentage

RAB Capital PLC 156,961,650 19.88
Mark Savage(dup) 53,310,006 6.75
Alan Robert Burns 44,820,000 5.68
Burns Family Investments WA(dup) 44,820,000 5.68
Paul Daniel Crevello 33,030,000 4.18
Bayview Investments LLC 33,000,000 4.18
Pershing Keen Nominees Ltd 25,500,018 3.23

Michael Joseph Proffitt 18,360,000 2.325

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Thks agrigento

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