Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Robbo13,
Already discounted a farm in pre-drill. Could be the reason we are at these levels due to risk aversion. 5s are very resistant and we could be stuck here for a few more days.
Robbo, yes I thought that but then Simon Potter talks about a major not just farmin in but carrying the whole project beyond discovery and that it's not just a case of drilling this well. I thought then that if a major is looking beyond this drill and producing the oil, then they are looking to come in. just a case of before or after Perseverance. The Americans say it differently, so either he's been talking to an USoil major or it's just the Seadrill team and BH and Halliburtons.
precisely ! drill is going to turn with major without major the magical word "spud" is a given now ! And if that is the absolute minimum achieved ie dry duster which is all but impossible with historical drilling , then we will be in double figures by then . Most probable outcome ..... rise until rig sets off. rise until spud, rise once depth reached and oil shows found, and then the life changing X factor....first is it commercial? and then is it awesome or world class ? Oh and the brucie bonus all the above may be preceded by a major farm in :) luvly jubly
Exactly pageofcup, my point exactly. this is a big thing. Nobody can even accuse us of ramping this time because its in black and white. its a fact.
The impression was the Bahamas Government would never approve or allow oil drilling due to the reliance on the tourism industry and the investment this attracts and the pristine beaches etc. BPC have demonstrated in their work that oil drilling can sit alongside tourism. This is a big big thing, as I'm sure the majors never bothered with exploring in the Bahamas because of the assumption or past refusal of the Government not wishing to put at risk the tourism industry, or electoral standing. All changed now .
I don’t think people need to get too hung up on the sp and small movement.
Major positive news is coming either in the form of farm in or drill result.
Each will massively relate this share.
This is what the market is waiting for and that’s the point at which you will see massive demand in the share!
The EA was a big hurdle to jump. Once the market catches up on the significance of this news this can only go up imo.
The Bahamas government has approved the drill. Just let that sink in.