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This is a very large milestone, and was by no means a given, but looked more likely as things moved on.
Certainly should see a BOOM bonum. In SP!
From the outside this news will look significant. However we all know that this was perhaps more of a formality giving what has led up to this with the MF ect
However i am taking no credit away from the BoD at all here. Yet again they have delivered and took us one step closer to drilling
Excellent
Proactive Investors article yesterday:-
"“Whilst a farm-out deal remains FIRMLY on the agenda, offering the potential to act as a powerful share price catalyst in due course, BPC is now pressing on towards drilling of “Perseverance-1” on a 100% owned and operated basis,” the analyst said.
READ: BPC is a small-cap throwback as high impact exploration is increasingly rare
“With critical components of the well financing package already in place and assuming that a US$13.3m conditional convertible note is finalised as expected, Perseverance-1 is essentially funded, allowing BPC to focus on its drilling plans.
“We expect BPC to make further announcements in the lead up to spudding.”
BOOOOOOOOOOOOM!
Good morning all ;)
Simon Potter, Chief Executive Officer, commented:
"On the way to delivering our single-minded goal of safely completing the drilling of the Perseverance #1 exploration well there will be no more important milestone than receipt of Environmental Authorisation from The Government of The Bahamas. I am therefore extremely pleased and proud to advise that Environmental Authorisation has today been granted. This is the outcome of an extensive and collaborative work effort over an extended period of time by our team of predominately Bahamian employees, various third-party consultants, and The Government and Ministry, advised by the BEST Commission.
Today's approval reflects our steadfast commitment to ensuring that Perseverance #1 will be drilled in an entirely safe and responsible manner, in full compliance not only with the stringent laws and regulations in place in The Bahamas, but also in accordance with all applicable international standards, and adherence to global best practices as defined by the guidelines and performance measures adopted by multiple international agencies.
We continue to make rapid progress toward the drilling of Perseverance #1, and remain on schedule for a well spud in April 2020. I look forward to updating shareholders on additional milestones in the coming weeks, in what we expect to be an exciting time for our Company.