Bahamas Petroleum Share Discussion Threads

[datait2] 16/5/2019 10:37

hi gismo, are you still trying to trick investors???

[globalspecialist] 16/5/2019 09:12

There is no RNS. The company admitted nearly as much in results RNS that all majors have walked away by talking for the first time of other financing options. I am still in but thinking of selling out. That will result in a decline which will lead others to sell. Might wait until early June but not much hope anymore. Chance of a deal now at 35% down from 85% in February.

[martyn9] 15/5/2019 08:23

Morning gismo, positive june rns paramount to turn this around.

[gismo] 15/5/2019 08:20

Morning Martyn, everything crossed for a June RNS

[martyn9] 15/5/2019 07:56

Someone picked up a mil in this mornings auction.

[gismo] 15/5/2019 07:54

Morning, buys increasing in size, looking stronger.

[jamie414] 14/5/2019 23:59

Whoppy the Wolly lol Good Luck!

[armatrading] 14/5/2019 21:43

Once more in case people missed it:

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] 14/5/2019 19:22

Jeez this is hard going, one more time the entire contents of the article , the last line says it all, at the root of the issue for 10 years . . . .

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.”

why did Potter and co do so many presentations on all the islands to many varied local interest groups , because there is no appetite for commercial oil extraction in the Bahamas . . . . Nothing's changed, that's why no deal . . . . . .
In my most humble opinion of course . . .

[johny cash] 14/5/2019 17:10

What's the opposite of a mug punter? Could it be a wise punter or a very well researched trader or investor.

[johny cash] 14/5/2019 17:08

Maybe the following was included in his interview"I have every confidence that they will drill..."

[johny cash] 14/5/2019 17:02

And what did he say just after that Dyno ?

[dynamohum] 14/5/2019 13:32

The living dead leap from the casket ⚰⚰⚰;⚰

[casket1] 14/5/2019 13:22

Get a life !

[dynamohum] 14/5/2019 09:58

A quick refresh about what the attorney general actually said. . .


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.27 Feb 2019

[letmepass] 14/5/2019 07:27

7DIG rising from the ashes

[globalspecialist] 14/5/2019 07:26

This is now looking very bad. No deal means 0 and time is not on our side. Last RNS implied all majors have walked in my view and looking at other financing means. Bad.

[whoppy] 13/5/2019 14:54

Vote for the Brexit party.

[gismo] 13/5/2019 08:57

Morning whoppy, Lol love it

[whoppy] 13/5/2019 08:38

This is pregnant for news. When the baby comes shareholders will be the proud Mummy's and Daddy's of AIM. Bristling with anticipation.

[gismo] 13/5/2019 08:12

What a plank Jamie