Bahamas Petroleum Share Discussion Threads

[whoppy] 19/11/2020 17:15

I can't see them. They have been filtered with rat poison.

[linton78] 19/11/2020 17:14

Whoppy - yes, a factual RNS should be released in the next day or two.

Ps - Its given the rats above their day in the sunshine... bless them.

[whoppy] 19/11/2020 17:11

You can't always name a drill rig that's going to drill in an EIA, due to the fact the EIA is compiled months and years before any drilling. However, what is standard recognised practice is to outline the specification of the rig that will be used for drilling and then when a rig is contracted, ensure that that specification is met. BPC has complied with this by contracting the Stena IceMax. It's the only rig they've ever contracted to drill and you can't get any better. It's the best drillship in the World.

[specialist protector] 19/11/2020 17:10

Class action sues rally succeed and there is no case here to sue the BOD

[bigsi2] 19/11/2020 17:06

https://youtu.be/4ulWjFfLsL0

[thatsmart1] 19/11/2020 17:05

If this is what their case rests on they will surely fail as it is incorrect. Seadrill never came up with a rig or ship as far as I recall because Covid hit first.

'BPC Chief Executive Officer Simon Potter was sent a letter by law firm Callenders and Co. claiming that the company’s environmental impact assessment (EIA) process has not been completed, given that it had to make amendments when it changed the ship it intends to use for drilling.'

[whoppy] 19/11/2020 16:55

Linton, in any situation, before taking legal action, you need to have a case and be on solid ground where you can prove there has been an illegal act. Typically this means being in possession of the facts. The case as presented by the environmentalists bears no relation to the facts, hence they are not on solid ground, and have no case to answer, imho

[linton78] 19/11/2020 16:52

Lol - Bristol... that's a not a good one!

[specialist protector] 19/11/2020 16:48

No Pro - I tend to disagree with you on the points of costs - although my infinite expertise is in finance I have had many interactions through civil cases with the courts. The cost is not borne by BPC is any shape or form if this case proceeds to courts as they have not broken any laws and no judgement has been passed. Furthermore BPC is actually proceeding after getting the EIA approval and with the explicit agreement of GOB.

Even if they were to lose a court case it is very unlikely in this event that costs will be awarded against them given that they are not the party taking the action - they are defending from a rightful position of law.

In term of drilling the GOB will not turn down $5bn of royalties and the extraction rights will be given in my view if oil is found.

Again I am not interested in holding to a result given a 70% chance of failure but the rewards at 2.5p outweighs the risks so the right decision was to buy down there.

GL to both shorts and longs although I donot usually need luck :)

[bigsi2] 19/11/2020 16:48

"Investors" lol - That's a good one.

[bigsi2] 19/11/2020 16:45

Isn't the drill already during 2021

[hilly71] 19/11/2020 16:45

As a lawyer who deals with injunctions (albeit not one versed in Bahamian law), given the imminent drill, I'd have thought that any party seeking to obtain an injunction would need to apply for an 'interim injunction' pending a full hearing. One of the requirements of applying for an interim injunction is that the applicant has to give a cross-undertaking for the respondent's damages in the event that the main action fails. As the damages any applicant is subsequently exposing themselves to are eye-watering given the advanced stage of BPC's plans, for this reason alone I'd be surprised if injunctive relief was actually sought.

[linton78] 19/11/2020 16:45

Whoppy - they are all out tonight...

If the drill is cancelled lets sue the GOB as an investor group.

Norton Rose on standby...

[jackson83] 19/11/2020 16:39

will we get news tomorrow re delayed until 2021 or will the RNS land next week.

[whoppy] 19/11/2020 16:37

If you bring a judicial review, you have to back your own argument. That means covering costs should you fail, period.

[1sillydoris] 19/11/2020 16:35

Dynamohum
You called it fight months ago.

[thatsmart1] 19/11/2020 16:35

Well spotted whoppy. Now we need to plough back through old RNSs to check there was no specific drill ship hired for the drill supposed to have been last spring.

[bigsi2] 19/11/2020 16:35

Should be some revealing late reported trades

[whoppy] 19/11/2020 16:34

It's a very flimsy and inaccurate argument.

[1sillydoris] 19/11/2020 16:34

Dynamohum on the other thread knows, I suggest respecting his views. . . .

[dipla] 19/11/2020 16:29

7am rns.... this has to be a leak... doesn't look good 10 years and still waiting ?

[thatsmart1] 19/11/2020 16:29

I think that was plain enough that BPC risk a court case if the IceMax proceeds to the drill site.

[jackson83] 19/11/2020 16:29

if the next funding is at 2p ? surely it will drop again to that level ...