Bahamas Petroleum Share Discussion Threads

[armatrading] 06/1/2021 12:24

[Mr Potter] added: “Notwithstanding this positive outcome for completing Perseverance #1 well, the company will continue to vigorously oppose any applications for judicial review, if they continue to proceed. This is because whilst the court has today granted the applicants leave to bring their applications, that is all that it is: leave to bring an action.

“These applications now still need to be brought, heard and determined, and BPC remains firm in its view that the applications themselves are without substantive legal merit, and will not withstand the scrutiny of a full and vigorous legal process.

“Equally, prior to that, a number of important issues remain to be resolved, including the question of BPC being included as a party, and the question of the applicants providing security for costs, and BPC considers it important to ensure that each of these items is dealt with according to law, such that the applicants be held accountable for the consequences of their actions.”

[jp2011] 06/1/2021 12:23

In the old days you'd send the Royal Navy in at 11.30 and it would all be over by 1pm

[drago] 06/1/2021 12:20

environmentalists probably closing their shorts and going long.

[armatrading] 06/1/2021 12:15

I suspect the environmentalists might abandon the current JR (if funds are low) and 'save their powder' until after the results of the P1 drill...
and then if oil is shown, will they try the JR again, to try to stop further exploration/development.

[dynamohum] 06/1/2021 12:15

The real bummer will be if commercial oil is found . . . . . .

Then the licence saga will continue for a long time before finally the licence to extract oil will be vetoed by the people and Bahamas Gov. . . . imho

1.3 on duster
4.8 on find

[ride daice] 06/1/2021 12:14

If we find oil in the numbers suggested all of this becomes somebody else's problem. Most likely a somebody with a legal team the size of Belgium.

[whoppy] 06/1/2021 12:13

The argument is no longer about BPC but the government. BPC are free to drill and whatever comes of any JR, into how the government acted, if there is even a JR, will be implemented in the next round of drilling so there are no problems.

[soggy] 06/1/2021 12:09

While it's good news for BPC that the environmentalists have failed to stop the spud and stop the drill, they will still be hoping that they can get the Judicial Review and that that the review will find irregularities of some sort and that this will give them an argument that the well should not be developed. So, while it's great that BPC can continue with the well - but there is still the black cloud hanging over that even if they find oil they won't be allowed to develop the resource.

Then again, if they do find oil...what's the bets the politicians there will all suddenly be big advocates of how great it will be for the country...and their constituents...and, oh, yes...them!

[robo28] 06/1/2021 11:34

Just had a £500 top up, all I could afford after Christmas paid 237 for them

[grandwood] 06/1/2021 11:34

top story on local news yesterday...

[bigsi2] 06/1/2021 11:25

We're they guaranteed 15% profit

[jp2011] 06/1/2021 11:23

Schroeders? They held 10 percent of cerp and were continually selling

[bigsi2] 06/1/2021 11:20

Why Lombard bother selling??Guaranteed 15% profit whatever the share price So just wait for TDFANTASTIC deal

[bigsi2] 06/1/2021 11:18

Lombard- Volantis have not been selling - no TR1DH - 1p - 5p

[whoppy] 06/1/2021 11:06

Has Lombard been tipped to stop selling shares?

[grandwood] 06/1/2021 11:06

That second link has additional quotes from Potter that do not appear in the RNS including this (hinting at potential for applicants to pull out?):

"Notwithstanding this positive outcome for completing Perseverance #1 well, the company will continue to vigorously oppose any applications for judicial review, IF THEY CONTINUE TO PROCEED. This is because whilst the court has today granted the applicants leave to bring their applications, that is all that it is: leave to bring an action" [MY EMPHASIS]

[whoppy] 06/1/2021 10:58

Great also to see the well is on track with no problems. Onwards and upwards.

[whoppy] 06/1/2021 10:55

The more this backfires on the environmentalists the more positive it is for BPC and oil drilling and any oil major looking in. Nothing like getting a judge to examine the case and then give their permission to carry on drilling.

[offerman] 06/1/2021 10:54

Forgot to say I hope you're safe and well tooand have not been affected by everything .

[offerman] 06/1/2021 10:45

Hi VLYes I do . It's my belief they are starting to.I think we shall see by the end of the day and any after day trades late reported trades.What was happening quite a lot was when there were days of buying the price wasn't rising which would be explained after close of play when huge sells would be reported explaining the days lack lustre movements and a positive direction. I hope I don't curse it but there could be a correlation between the dodgy posters that appear that mysteriously seem to disappear on more positive days positive news and share purchases. But soon flood the forum on any uncertainties on days of heavy selling or potentially bad news. Let's see what happens now some of the muddy waters have now cleared with regards to environmentalist action.Next couple of days will be key for near term direction imho. If the sales continue then it will be a little longer before the price has a decent rise but it will happen the sales have to dry up and with such a monster prospect over discovery this will have already attracted a lot of attention and also the environment let's have probably got us even more attention globally .If those large after trade sales abeit then a clear pattern is forming . We could get some good price action up until the day of results , but of course along that time there will be further sells as people either top slice /deriskI might top slice just a few if the price was to rise nicely from here. Aimho of course .

[videologic] 06/1/2021 10:14

Offerman Do you think I'm right in suspecting that the sellers are drying up at last? Let's hope so. Pray keeping safe and well.