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Hi Spirite, no need to clarify. I was in the camp of those who suspected it was a consortium and shared risk play. i.e. Major wanted in but did not want to stand over all of the risk.
I had not considered the exclusivity as a dirty tactic play. If that is proven or strongly suspected to be the case by SP and the board how do things play out now?
If the exclusive partner comes to the table with a viable farm in proposal but an alternative proposal comes from elsewhere on marginally worse terms does the bad blood trump the marginal difference?
question of ego over value. Do you do business with a partner you know you do not trust? Or do you go with the 'better the devil you know' school of thought? Better to work with someone you know will throw you under the bus than someone you are not sure if they will or not?
at this rate I will need another walk to clear my head before lunch.
Frontier risks in Bahamas bollacks......West of Shetland yes
PI , when I referred to “you”‘I do not mean you personally but the group as a whole! At the 2019 AGM Simon cited the “frontier risks” associated with the project as being, in his opinion, the reason why a major hadn’t committed.
PI, I was at the 2018 AGM and asked many questions in this topic which was the big news at the time. Simon looked me in the eye and said several times to “read the RNS” and that nobody had “walked”. I’ve posted this on several prior occasions but you either believe it or you don’t. Now that the reputation of the Board has risen, perhaps they will get more credit for their efforts.
I think the ball is very much in BPCs court now. They have proven they can go it alone. And now its up to the majors to make their move
Either way we are drilling. I have always wanted a major on board, but now i am starting to greedily think we should be doing this alone ;)
it was debated long and hard at the time as to if the major walked or not.
One of the theories on the BB was that the major was still interested but may not have had the appetite to go in without shared risk.
What are the thoughts now? single major for farmin or a consortium farmin? or do we hold a line and go alone?
As an earlier poster mentioned the dirty tactic of running down the licence as a reason behind exclusivity is there a possibility that the exclusive partner has seen the data and does not want to share in any way and wants (wanted) BPC out of the picture?
just my thoughts for the morning.
I shall go and have a walk and a ponder.