Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Will
Thanks vm.
My sentiments exactly!
They certainly gave me a great upbringing and good grounding that made me work hard etc..
Cheers mate!
GL
IK
XX
Sorry m8 pre text. Meant hope the oldies stay fit
IK nice to hear from you and hope the dies stay fit n well m8. Look after them whilst you can they looked after us for many years. Lost my dad at 89 and mum had to go into care due to Dementia... Horrible disease made worse by covid restrictions. I'm lucky my dad looked after us and left us a few quid.. Nothing substantial but enough to ensure we would never be on the streets as he put it. One hell of a fella and a gentleman.
Anyhow I'm hoping BPC gives me the opportunity to leave my kids financially comfortable when I pop off. That doesn't mean they won't need to work... They most certainly will as Its an important life lesson with important values. Hoping BPC make this Christmas super special.
Tib/Bryn
Bryn
Thks for your kind comments- yep think family are going to be ok.
Usual geriatric stuff that I guess we will all go through – If I live that long with Squirrel attacks!
Pa is 94 and I suspect he might see me out@ this rate!
Tib Thanks mate – I do think that the BOD have not been idle and that financials – I and Ts are being dotted and crossed IMHO.
In my experience the like of Stena do not commit without fully, legally binding contracts. Yes that may encompass some wriggle room – in the case of XY and Z but that is business @ the highest level for the entrepreneurs who make a difference.
Thanks for your input technically – it is much appreciated.
ATB guys.
GL
IK
XX
Sorry bit short on time for more in-depth.
Tiburn, When the drilling reaches TD as you say in a couple of months you don't just pull out of the hole and booger off, there is much work to be done before completion.
Iking, good to see you back.
All adds up, choice of ship for rapid drill, timing of contracts, logistics, efficiency and mob cost savings etc.
So a P#2 drill could assume a strike in P#1 to capitalise - or enough encouraging signs and direction of travel of the oil to allow better subsequent targeting.
Lots of variables - potential for sidetracks off the P#1 hole, a lot cheaper than a brand new drill for P#2
A success clause with Stena for follow on drill/stake could kick in - must be a rider on the deal being considered to allow them better terms of entry - $10m cost up front and more if P#1 strike perhaps, its very intriguing.
BPC are in a position to offer very attractive terms in whatever form Stena prefer to gain them as a partner, an ersatz Farm out for the appraisal stage at least.
Hope peeps brought when this was below 2.5 :-)
Tib
Moi aussi mon ami.
GL
IK
XX
IceMax can :
"optimise the pace of drilling through anticipated reservoir formations"
P#1 could be done in 2 months, start say Dec 20th - Feb 20th
so whats the drill going to do from period end of BPC drill to May and the GoM contract
easily enough time - contingency planned for imo -for a follow on drill
Stena knows what's down there, hence the rig.
Not just any old rig. but the IceMAX. Stenas pride of fleet and the best drill ship in the World. I think they want to be part of a new discovery Guyana style.
Well here comes my usual contrarian view, that said I have done ok from BPC...
“(vi) Final review of well costings and budget.
BPC will provide further details on the operational readiness of Perseverance #1 well as the project plan advances.”
I expect the review to result in a cash raise. Why, they are on fumes. There is no contingency for a second drill or sidetrack.
You simply cannot afford to move top kit like this hoping that one drill will be enough. Even if they strike they will need cash, obviously the sp will be higher but it’s better to get it done following the euphoria of this RNS and then raise again if they strike. The reason is if they miss the next raise could be at fractions of a penny and the costs become more expensive with a rig sat waiting to be paid. They need contingency and that costs money.
Once they announce a placing that’s the time to top up/buy imo.
All said enjoy the rise today guys.
Atb
Trek
Also expect news on innis trinity deal with PRD by Wednesday - the option to purchase expiry date. Since the first offer I expect they have been in extensive negotiations, and flow test data should be known to both.
Lint
you know I love ya but a tad early methinks for result.
I’ve got a red nose but Rudolph might be back @ North Pole before we get results.
GL MON AMI
IK
XX
Finally, after a decade, good luck all.
The nomination from Stena of the exact rig and provision of guidance as to the date on which the rig will be on location, and thus greater certainty around when the Perseverance #1 well can spud, is a significant milestone for BPC, and will now enable a number of critical work items to be progressed within clearly defined timetable.
Christmas Day oil strike? :-)
Oh dear that’ll upset the naysayers - Bye!
Oh sorry Rocket you already went.
GLA
IK
XX
Big box ticked.
Great
Yippee!!
Confirmed 15-19th December. Stena ICEMAX.