Bahamas Petroleum Share Discussion Threads

[specialist protector] 16/11/2020 08:53

Forget about bin boy and 12p fantasists - they have no idea of the markets which is why they are losers around 100% of the time on the markets hahahahahhahah

[eggchaser] 16/11/2020 08:52

Oh look LittleBigMouthSi is back - I wonder why

[specialist protector] 16/11/2020 08:52

BigSi - I got back again based on momentum - Not happy how it is trading at the moment - I don't care about the long term as I am only holding for the upside on the drill - At 3.4p do you see more upside here or do you think it is all priced in for the drill?

[bigsi2] 16/11/2020 08:48

BPC and the Subscriber have agreed to extend the date for satisfaction of all of the conditions precedent to the issue of the Notes, such that the last date for satisfaction (or waiver by the Subscriber) of those conditions precedent is now 15 December 2020. Further, to the extent that the Subscriber elects to subscribe on an unconditional basis for at least GBP1.5 million of Notes prior to 15 November 2020, the date for the satisfaction (or waiver by the Subscriber) of the conditions precedent shall be further extended to 15 January 2021

[pro_s2009] 16/11/2020 07:46

It was always the final risk here, due to its location........and the likelihood of global action against it.

You might even see boats being rented later to blockade the drilling area and stop the spud as they harass the Icemax and make a safe spud impossible.

This is not somewhere remote or backward.....like the Falklands was, like Guyana is......this is somewhere near to the USA where there is pristine environment and its easily accessible to boats.

Going to be interesting........obviously BPC will steamroller on to spud.......but keep an eye on what the anti-drillers get up to, even to the extent of blockading the area to drill and ramming the IceMax to prevent spudding. They want to get this on global news networks - to get the most TV exposure to their cause of stopping it.

Remember events like this..........all kinds of things are rumored to be being planned.



.

[babbler] 16/11/2020 07:40

It's oil. There is always a damn petition.

[tomford8] 16/11/2020 00:34

Oil Explorer: We’Ve Got Tourism, Fishing Covered

Exploring Safely and Responsibly & Safeguarding The Environment.  

A Bahamas-based oil explorer reassured that the insurance coverage for its first well will cover any tourism or fisheries losses “in the highly unlikely event” of any spill or environmental impact.
Roberta Quant, Bahamas Petroleum Company’s (BPC) environmental scientist, told Tribune Business it had obtained protection “considerably in excess of the minimum levels of cover required by The government” for the Perseverance One well that will be drilled in waters some 91 miles to the west of Andros near the maritime boundary with Cuba.
In written replies to this newspaper’s questions, Ms Quant said the well’s location was not in a Marine Protected Area (MPA) as suggested by environmental activists, adding that its location was some 85 miles from Cay Sal and had been subjected to the intense scrutiny that showed “there are no sensitive environmental receptors anywhere near the drill site”.
A 17-year environmental industry veteran, with a master’s degree in the sector’s engineering discipline, Ms Quant said the risk of any oil spill from BPC’s first well was “minimal”; - especially given that it is an exploratory well design to detect whether commercial quantities of oil exist beneath the Bahamian seabed, rather than one that will be used for full-scale commercial production. She added that efforts by some activists to compare BPC’s activities to the Deepwater Horizon disaster, which occurred in the Gulf of Mexico more than ten years ago, were “technically and geologically inaccurate”.This, Ms Quant argued, was because the rock structures and pressures on the Bahamian seabed are much less than those in the Gulf of Mexico, meaning that the “risk of a spontaneous flow of oil, or a spill, is dramatically reduced” where BPC is concerned.
However, taking no chances, the oil explorer said all necessary insurance covers for Perseverance One have been secured through the broker, Aon UK, with insurers from Lloyd’s of London and other international markets underwriting it. “This policy provides cover for the costs of halting and remediating any incident during drilling, including the costs of redrilling, the costs of drilling a relief well, and the costs of any remedial or clean-up operations.


Bahamas Petroleum management reply to Bahamas environmental concerns: 

EXPLORING SAFELY AND RESPONSIBLY &  SAFEGUARDING THE ENVIRONMENT 

hxxps://d1ssu070pg2v9i.cloudfront.net/pex/bahamas/2017/07/07132734/friends_of_the_environment_june2013.pdf

[eggchaser] 15/11/2020 22:40

Fabulous post for any Newbies and to shut some NaySayers up!Credit to CoMan of LSE. Same rules - if my duplicating his post offends then my apologies and I'll delete it immediately!weekToday 21:48I've been involved in exploration drilling for over 30 years, 10% COS is about right in my experience which is what makes BPCs quoted +/- 35% COS very attractive

[martyn9] 15/11/2020 20:31

Good evening Linton, I hope to buy a vineyard in Spain and enjoy the profits!! : )

[linton78] 15/11/2020 20:25

Drink up Martyn, hopefully you will buying the whole vineyard in February.

[martyn9] 15/11/2020 19:49

After the market manipulation Friday,I can see a leap forward with the share price on opening tommorow.Back to my wine.

[pro_s2009] 15/11/2020 18:43

Tin hat on........


Coming up to 50,000 signatures on the petition to stop the drilling....





.......takes tin hat off........

[allinforabigprofit] 15/11/2020 17:47

I hail the relative, dedication to the cause.

[linton78] 14/11/2020 21:37

Laallee - 12p is still on the cards.

My uncle Bob is in Cuba now looking out for flaring from the icemax whilst fishing for blue marlin.

[pro_s2009] 14/11/2020 20:51

Ultimately you cannot bury your head in the sand, as things get close you have to expect all possible channels to stop drilling to be tested.

Being aware of the risk, however small, is essential.

[alasparavolar] 14/11/2020 20:40

Hey Ugly. Why have you turned the Bot off? No emojis. Getting worried?How's the short going? Eating into your £72 million?

[martyn9] 14/11/2020 19:14

Thatsmart, moored and tethered is my option, when we strike oil and the waters calm open and full throttle:)Should have been a bad poet.

[farnham] 14/11/2020 19:06

I would love 12p and I'd be gone with my cash .I can't see it being that easy . 5-6p Max which will leave most with a tough choice 12 p and most would be sailing into sunset

[laallee] 14/11/2020 16:15

Linton.
12p
Stay frosty.