Bahamas Petroleum Share Discussion Threads

[whoppy] 23/1/2021 12:55

It's going to Nassau. Onto IceMax for flow testing with mini DST, imo

[eggchaser] 23/1/2021 11:38

I suspect we will know more in February from the company that is Tom... all positive stuff along with BPC being given the green light to participate in the JR....

[grandwood] 23/1/2021 11:33

Looks like the HOS BLACK FOOT supply ship on route to the drill site again....which implies the drill is ongoing and more equipment(e.g. casings, mud, etc.) is required. Should be alongside the iceMax in around 12 hours.

[tomford8] 23/1/2021 11:24

Been a busy week for Icemax drilling team

Must be passed the first TD 4800m. I would say drilling deeper to 5600m and massive oil-bearing target zones. Offshore ship Hos Black Foot busy week, returning back for the second time in a week to Icemax

hxxps://d1ssu070pg2v9i.cloudfront.net/pex/bahamas/2017/06/07132506/bahamas_petroleum_company_plc_-_cpr_july_revision.pdf

[eggchaser] 23/1/2021 10:41

Linters morning old boy!! Yep and these paid bashers or mentality deranged in the case of some will run out of arguments against investing in the company... Admittedly some points were in the balance but they were known risks which is where potential gains come from... taking a risk... so if we do find oil and it's commercial then that further stuffs it up em... only a matter of days or weeks now for the reveal...

[linton78] 23/1/2021 10:29

Another day, another embarrassment for Pro over on LSE.... !

[specialistlegionsupercharged] 23/1/2021 10:16

Hahhahahathe idiots in the dark TomFord and Q are very good in copy pasting which is what all these idiots have done over the last decade as the likes of bin 🗑 boy lost 90% of their investments. 😥SAD

[specialistlegionsupercharged] 23/1/2021 10:14

Yes a great post says the idiot in the dark. Hahahahaha hahahhahahah 🗑🗑🗑🗑8465;🗑Ԅ65;🗑🗑;🗑🗑🗑🗑
28465;🗑€465;🗑㈮5;🗑🗑🗑🗑🗑🗑8465;🗑Ԅ65;🗑🗑;

[linton78] 23/1/2021 09:46

Good post Tom Ford.

Thanks

[tomford8] 23/1/2021 08:59

Think this post is addressed to Pro who posts on here:

RE: Mmmm...Insurance Today 08:46 am

Hi Pro,

Lloyd's itself is not an insurance company, it is an insurance and reinsurance market within which multiple financial backers, grouped in syndicates, come together to pool and spread risk. BPC's broker would have gone to the 'box' at Lloyd's and secured coverage. For such insurance it is unlikely that there is only one syndicate on the risk. You will have the lead syndicate who may take say 15% of the total risk. The broker will then go around the rest of the market and get follow syndicates to make up the outstanding % based on the lead syndicates t&c's. Each underwriter from the syndicate will stamp and scratch (sign) at which point they are 'on risk'. Each syndicate may also choose to re-insure their part of the risk, this will reduce their liability, but also reduce the profitability so they end up with less premium, but a lower risk in the event of a claim. Reinsurance can be reinsurerd as well. Once the broker has 100 % they will process the risk through DxC (exchanging), only here would lloyd's have any information on the risk via the USM universal signing message, but they don't look at individual risks. The only ones who possibly may comment on the risk is the lead syndicate but highly unlikely.

Hope that helps summarise the Lloyd's market.

posted by Qnard

[eggchaser] 23/1/2021 08:33

As posted on the nutters thread... some factions are questioning the validity of our insurance with Lloyds... funny how the response from the company was not posted or commented upon by those factions...Here is the companies response contained in the same article...As has previously been disclosed publicly by BPC, in accordance with its strict legal requirements the company has secured all insurances to be procured by a prudent operator for the Perseverance One well operations, and as stipulated by the Government of The Bahamas," the BPC chief responded.#"Therefore, the statement from Our Islands, Our Future in relation to BPC's insurance policies is baseless and entirely incorrect. As with all insurance contracts, there exists normal business confidentiality provisions, and whilst the details of BPC's specific contracts have been provided to the Government of The Bahamas, they are otherwise subject to commercial confidentiality obligations."#Mr Potter continued: "I would note further that Lloyd's of London is the world's leading insurance market, comprised of multiple risk-writing syndicates. It is not a company or similar such organisation where any one individual can attest to speak for Lloyd's as a whole, but is rather a facilitator of insurance transactions on behalf of individual Lloyd's syndicates.

[eggchaser] 23/1/2021 08:31

Isn't it funny how Pro has not commented on the fact BPC will join the JR and will seek costs... Strike 1...He now changes tack to a new argument but fails to disclose the response posted on the same article...Here it is....As has previously been disclosed publicly by BPC, in accordance with its strict legal requirements the company has secured all insurances to be procured by a prudent operator for the Perseverance One well operations, and as stipulated by the Government of The Bahamas," the BPC chief responded.#"Therefore, the statement from Our Islands, Our Future in relation to BPC's insurance policies is baseless and entirely incorrect. As with all insurance contracts, there exists normal business confidentiality provisions, and whilst the details of BPC's specific contracts have been provided to the Government of The Bahamas, they are otherwise subject to commercial confidentiality obligations."#Mr Potter continued: "I would note further that Lloyd's of London is the world's leading insurance market, comprised of multiple risk-writing syndicates. It is not a company or similar such organisation where any one individual can attest to speak for Lloyd's as a whole, but is rather a facilitator of insurance transactions on behalf of individual Lloyd's syndicates.Strike 2....Strike 3 will come when we hit net pay and we can all r facts down this scumbag s throat.I urge anyone with time to keep reporting this prat to ADVFN and or the company...

[eggchaser] 23/1/2021 07:50

Shaun then I shall retract the comment about you in that post!! It came across as you were one of the unclean...!!