Bahamas Petroleum Share Discussion Threads

[linton78] 28/2/2019 09:16

SP - 1.77p

1.85 on the buy side.

[stewart4980] 28/2/2019 09:13

I am out at moment has anyone got the online prices

T I A

[linton78] 28/2/2019 09:12

No probs Stewart - mind blowing news to read after a 10 year wait... !!

[stewart4980] 28/2/2019 09:10

Does this not say it all:-

The company has now been seeking to drill for over a decade to no avail.

However, Bethel said he is confident that this time the company will drill.

“I have been made aware that they have already commissioned and have an agreement with a major oil company,” Bethel said.

“I cannot say who, but I know who.

“I have every confidence that they will drill…”

Bethel added, “The question is, ‘What do we as a people do if they find commercial quantities of oil?’.

“What does this Bahamas decide? That’s the fundamental question.”


A major oil company, I may very well add more if I can find the cash

Thanks Linton

[linton78] 28/2/2019 09:09

Killer line .....

“I have every confidence that they will drill…”

[linton78] 28/2/2019 08:50

hxxps://thenassauguardian.com/2019/02/27/ag-govt-obligated-to-extend-bpc-license/

Attorney General Carl Bethel said yesterday that the government was legally obligated to extend the license for Bahamas Petroleum Company (BPC) to undertake exploratory oil drilling in Bahamian waters or face “severe” damages.

“The government was obligated as a matter of law to extend the license by that period of time in which the previous government, but the same government of The Bahamas in any event, had ordered the licensee (BPC) to do nothing while we improve the environmental regulations and safeguards,” Bethel said in an interview with The Nassau Guardian.

“So, for over two years they were told to do nothing; ‘do nothing until we fix the regulations’, alright.

“The license came up, it expired towards the end of last year and the question was whether or not we would extend it.

“We had a legal opinion done. It was very strongly worded and it was clear that the government was obliged to do it or incur liability for severe damages.”

BPC was first granted a license for exploratory oil drilling in 2007 by the Christie administration. The license was renewed by the same administration at least two more times since then.

BPC applied for environmental authorization from the Bahamas Environmental, Science and Technology Commission (BEST) in April 2018 as a prerequisite for oil drilling according to the Petroleum Act, 2016.

The company issued a statement on the approval of the extension last week, revealing that the government gave it permission to work toward drilling an exploratory oil well before the end of 2020.

No government official has made an official announcement on the approval.

Asked about the criticism over this fact, Bethel said, “I don’t think that it really matters who announces something like that.

“At the end of the day, the decision was made and, you know, it was a decision that in a sense had to be made.”

The company has now been seeking to drill for over a decade to no avail.

However, Bethel said he is confident that this time the company will drill.

“I have been made aware that they have already commissioned and have an agreement with a major oil company,” Bethel said.

“I cannot say who, but I know who.

“I have every confidence that they will drill…”

Bethel added, “The question is, ‘What do we as a people do if they find commercial quantities of oil?’.

“What does this Bahamas decide? That’s the fundamental question.”

[dynamohum] 27/2/2019 17:49

Time will tell BS2 . . . . .

[bigsi2] 27/2/2019 17:19

how long does it take for a dreamer to become a realist? I'd say approx 2years in this case

[dynamohum] 27/2/2019 16:56

Hi whopper
No, just love the thread , if and when a farm out occurs I may take few . . . .
Gonzo I made 150k on BPC back in the day ,trouble is your a dreamer, I'm a realist ✌️

[gismo] 27/2/2019 15:34

No he just dreams of owning some whoppy lol

[whoppy] 27/2/2019 15:12

Thank you, however not as imaginative as where the share price will be if we get a farmout partner. Have you any idea on sp? I take it you've bought some BPC.

[dynamohum] 27/2/2019 14:59

Great imagination whopper ✊

[gismo] 27/2/2019 13:51

That makes sense whoppy

[whoppy] 27/2/2019 12:42

I think the Licence extension was given to attract a top notch operator who has the experience and safety record to guarantee a safe and environmentally friendly well and the capacity/money to deal with any emergencies. The Government will want the best operator in the oil industry working in their waters, to give confidence to the Bahamians, hence the two year window. This began at the beginning of the year, so there must be a partner ready as we are already two months into that two year window. This would have been negotiated as part of the farmout as a wish list by the potential partner/partners. If so, then it shows how far advanced the farmout is, and looks like news could be sooner seeing as we are two months into the two year period and there will be a lot to organise.

[bartender18] 27/2/2019 11:05

Did not stop them in Guyana

hxxps://www.kaieteurnewsonline.com/2018/03/12/environmentalist-makes-stirring-plea-to-nationdont-be-blinded-by-oil-money-our-eco-system-is-more-valuable-please-protect-it/

[martyn9] 27/2/2019 10:12

True whoppy,if we lived our lives with the sentiment of "WHAT IF" we would never move forward and end up living back in caves!!

[whoppy] 27/2/2019 09:52

Thanks Linton. It's a balancing act for the government. The Bahamians won't even know the rig is drilling. It will be out of sight and well beyond the horizon and won't affect tourism. They seem to forget about all the oil tankers moving billions of barrels all around the coast of the Bahamas and the accidents that can happen with all that traffic, not to mention the risk of explosions when they fill up at the Bahamas storage terminal. Funny that.

[linton78] 27/2/2019 08:58

FRONT PAGE NEWS in the Bahamas :

Turnquest: Previous admin. “locked us into” drilling

hxxps://ewnews.com/turnquest-previous-admin-locked-us-into-drilling

“We certainly will do all we can to ensure that we put in place the protective mechanisms if in fact, they do drill and we’ll see what happens.”

[lithological heterogeneities] 27/2/2019 06:42

The psychiatric nurse insists I do every morning :0(

[johny cash] 27/2/2019 06:35

Litho, did you take your tablets today?

[lithological heterogeneities] 27/2/2019 06:12

Could see Worldwide stockmarkets taking a dive today as news broke overnight that the Japanese bank Origami has folded.

[bigsi2] 26/2/2019 12:59

Environmentalists - why would the GOB make a formal announcement? Nothing has changed ! BPC given mandate to drill for some years now

[martyn9] 26/2/2019 10:55

Bigsi2,i will consult the tea leaves,anyones guess on that.

[linton78] 26/2/2019 10:51

Our old friend from Save the bays ......!