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Uruguay
Summary Information
Asset OFF-1
Location Offshore, Uruguay
Ownership 100%
Operator BPC
Stage Exploration
Licence size 15,000 km2
Asset Type Production Sharing Contract
Anticipated Resource 1 billion bbl (estimate)
Fiscal Regime Cost recovery and R-factor based production sharing
Tenure Pending formal signing
taken from the company website
Novice
Appreciate it.
Initial confidence boost in the licence was short lived. Nice to know Kosmos is also looking. Although no current operations are taking place in Uruguay for them. That certainly gives me reason to consider a possible exploration JV with them.
As for the Majors. Their licences are in Argentine waters. If they indeed make discoveries in layers which exist in Uruguay, that will give me more confidence in the pursuit.
My pleasure too.... (just before you ask, I didn’t get someone to design that web page for me)
https://www.offshore-energy.biz/bahamas-petroleum-awarded-block-offshore-uruguay/
People talking about 'Death Spirial' are clueless. So much drilling to come this year by the end of the year our oil production will be better than today and next year will be better.
For all saying death spirial, why are you here? Obviously you do not own shares - so clear off you trolls
Findme, yeah I had to laugh at this paragraph
A transition of the Board and the senior management of the Company coupled with a comprehensive cost savings exercise across the Group (with a view to reducing overhead by 20 per cent. - 30 per cent. in the coming months), along with introduction of revised, aligned incentivisation arrangements for ongoing / new management and Board
Only 20-30% seriously , you bet and just wait and watch to see how they look after themselves.
May I request you provide the link of what you searched to show the results you have found stating the Uruguay oil licences. As Google is not returned any information
does it say when the cut of date is for open offer anywhere
I will now Google this.
No reason why you & I can't be civil in debating any points.
Maybe you see the purposeful misspelling of my username as fun or personal jabbing as to display a level of dislike.
Tuckman, you can bet there will always be enough money to pay the BOD their inflated salaries. I wonder how many of them will take up the offer themselves, will we see some eye boggling directors deals and I don't mean selling.
Shouldnthavesold- Im correcting your post. There is major interest in the Uruguayan licenses. Kosmos energy is one. You have neighbouring BP and Shell already taking up licenses in neighbouring Argentinia. Next door like a semi detached house.
Plenty of interest
Novice
I don't wish to but heads with you now going forward.
I have never claimed you have said anything.
I am currently unaware of any Major that has bid for any licence in Uruguay.
As with the Bahamas licence, when a JV or Farm In/Out is announced, speculation of one is just that. We are all free to speculate. I am certainly not suggest you stop doing so.
Shouldnthavesold- I didn’t say they had found oil In Uruguay. I said there IS INTEREST from MAJORS in Uruguay. You think that majors will put in a bid on a license just for the fun of it?
I guess the ramping has started again. Wash rinse repeat from the usual characters. They will all return for the 0.35 gains. This company has no money, it simply is again wash rinse repeat and bleed shareholders dry. Rampers and rumour mongers trying there best but the writing is on the wall. I am selling up at some point next week and will move this money into a more reasonable risk reward share. Plenty of money available here on trading but IMO investors beware. As for this BB and certain members posting, I will have sold up but will keep posting with no holding. Good luck for genuine holders who have suffered at the expense of a board full of false potential and extremely inept management.
Novice
And in the history of offshore oil exploration in Uruguay, how many discoveries have been made?
Come on we have just been through this with the Bahamas. Let's not get carried away in believing BPC has the ability to discover oil in acreages that Major's haven't.
Its one thing to explore in proven acreages but another with unproven.
BPC does not currently have the capacity to spend $50M on another wildcat drill where NO OIL has ever been found.