PYX Resources: Achieving volume and diversification milestones. Watch the video here.
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I guess you meant 2p support
Ref crewchange, were there not some helicopter movements a few days ago? This could be crewchange (depending on number of flights)
And then I dug a little deeper - So today Minnis has said "Govt. to “accelerate” implementation of sovereign wealth fund"
So my apologies - just when I saw the news article state it was a re-broadcast, I wanted to see what the broadcast was about and it was the annual meeting of the ERC which was October.
https://ewnews.com/pm-govt-to-accelerate-implementation-of-sovereign-wealth-fund
High volume today and no drop in share price. I see this as a positive. The 2p resistance is well established until we get some news.
Guys, I hate to burst the bubble a little - I noted on the top left hand side of the video the word "rebroadcast"
The reporter makes mention of a meeting of the Annual Economic Recovery Committee - whilst it may have met since, the only mention I can locate with a Google search is the meeting dated October 2020 where Minnis and the meeting state "Under the theme of creating a more resilient economy, public observers will note the recommendation to establish a Sovereign Wealth Fund and a separate National Infrastructure Fund underpinned by holdings of Crown Land and government-owned real estate to mobilize capital for infrastructural and developmental initiatives."
Unless there has been a further meeting and declaration that I have not seen (I have not done a thorough search if I am honest).
Just so we do not get carried away - and the reason the SP has done SFA.
Here is the link to the Annual Meeting - https://www.bahamas.gov.bs/wps/portal/public/gov/government/news/economic%20recovery%20committee%20makes%20high-impact%20recommendations%20in%20its%20summary%20report/!ut/p/b1/vZfJjqNIEIafpR_A7cyETODIZsye7IYLwgu2scEbNsvTj3tUUk_NdFcdpsvECSlSX8Sf8YeU02y6mGZN8dhvi3Z_aorjj_-M5AzQbFFkeZufERHoETNjsCkymgenyXQxTzkp3Hq9ojq5ka1wfIFbCRW0tJd3KUrOtXe00eXk6JRsisMENWg0eJ97RNcRq4lg3R7X3rpG7H4vGOe8kEm55S8biYncW7odzy5vy4FtPeJYLvzJiU58aDlQAlt24G238fLt8VzxUWkocjIWA1JaQyEnOmv7hhYguTIu5QFzVvu1PKGGca2qddnWrRU6qRJqe8Jfk7lSdBin1Wj5MauC5ZK2TH44Ilo8BUifAoDffCL4Wx9PAl5gCYyocRYH9JALiakrwLbJ2_kPEt7pq2FAnvpSS6TcHLkQv53_XQIL_t_5Z8Kn95t93CL7lvCRRB8WaaJPEp5Nps8E7vc1cNNwugBsHlTDWR8Po1-BDtihCsIqgEBJhkBtImepdkE7c-yDYEIlpgEgyFFSEES9GaxDuo79SBKV827Mu0-AKnk1EL8YGIFXA9GrgfDVwFdPKWRfDfzztjCm2X5Zf-9W9XfwnWV5geEFFgscEQSE2GlcpahXbnqnqEHe712YjRmil2d9SXM1z1qA1JNdlJNNRFXJomvXEMC6elRd1pxmYn1plWTmdoNuFCrfx4PY3rZmO5679XCQrcx1bq4Ba6cfpEM90kXHRu7hUXNH_xIPE4NfThZ948Qjm-RMot_XV67WpAz2RWIexut4xCLTldqq2uQc51G9zPF86sxP9eZNx58LL4wB0CEQ_QB6gHd-NZr9U0MmUNQBKBETgmvohDMraBNoW2kHq9gOowMK1K63Q8cI2vmbjtJRqBT4b6CLQuEJlCExIwwCwH41UMMu_1zpXEhFjIDmwlcDmZdKqlEXfHmH74aG9f78Hb4zHy8QiDmeFXgCnkbkprGf7jnlZIiqGudZUNdZUSB7yFCxb9KDFNW3Wz3pWnxgN8LMKkZ3Oz7u2SCWgbq7XAvI7ZrM3iaeQ3dF8DADI7PMDllmUMlHWc-r_ugvVoe4v-PJHEwG_457A7aEMrjCy9mcxpObQDVv5exKdC3WpK_sXfKJs7hf7uB2KQJbkQeoQsdRlNiJamA7CQye2wlEQJIvq8LAt0M9JA25r4i5P8miYV9a5_TtE2dpzFcD3w86EMmrgfirgJpre_IPSUPph6TMfC4Si3FV-Grgn7_Dd87CLMRYgEggiEMcfDqrjfh-tdV7hQ6mhkvp2lIfd-rzmWKP-qWUbtWQdFThTLXbHPTssmYy1BZ3cLadGlZCVTWNey_ceA0iFm_LxbmaM_pmk45I2o4s289QrY1rq_d9khzPu8y6rHKaZMNcRGuvQDt2HXoSuWhbP5ZyLyAx3psmWNxdg5Nk3NiqSJVZGN8ECwrqfHUSKr1Pc9swVKC0kVx7SW6zjiYt0uIxcVZLFZat1rEln91l0uyWJo5cEVbhLXXwatnqSUv6W0tyocp3d1RF03P9ME3TIr5aOv8Ntpj8jOW4-EeI3779Bb-aFzg!/dl4/d5/L2dBISEvZ0FBIS9nQSEh/
how do you know the crew swapped?
You've filtered all your friends................!
so that option is out icemax................ :()
All the best (algo told me........... :)
Alternatively, go 50/50 or ask Jemery.
Time to call that close distant cousin ... etc
RNS Jan 30th
https://www.lse.co.uk/rns/BPC/h1-2020-operations-roadmap-to-drilling-lns0emhkez0di0m.html
Showed the pre drill planning and intentions back then, with some deep background well explained:
"Drilling of exploration well expected to commence in April 2020 with results expected to follow later in Q2 2020"
So drill and results expected within that Q2 2020, now Q1 2021.
"This location has been chosen, based upon high resolution 3D seismic data, as the best balance of lowest technical risk, geological conditions and recoverable volumes, with a significantly better developed top seal and reservoir characteristics at this crestal point on the northern segment of the very large B structure."
So not necessarily the biggest volume, but best chance of drill success overall.
Well, actually, Zag his article points to wide scale corruption, in certain African countries, whose leaders like to fatten their own personal wallets rather than share the cake.
The peeps in the Bahamas out to be keeping a watchful eye to make sure it don't happen to them. So, not disagreeing with the article on that score.
As we know the crew have currently just swapped over. Therefore operatives who were on the ship over Christmas are now at home. You would imagine if there was a early find or news it would probably leak soon....
Laalee
You did - just - to me.
X
BPC late last year stated as much as 2 billion barrels i thought it was upto 1 billion
An exploratory well is an initial step to check the size and volume of oil deposits in a basin or production area. BPC said that Perseverance No. 1 is a "potentially basin-opening well, with the kind of scale and associated value uplift exposure rarely offered outside of oil majors." The company said earlier this year that preliminary seismic testing showed the area has potential oil reserves of more than 2 billion barrels.
As the Bahamas struggles to recover from the damage caused by Hurricane Dorian, the monster storm that struck parts of the archipelago with punishing 185 mph sustained winds and 25-feet storm surges in September last year, oil production has emerged as a way to boost economic activity and create jobs.
The storm caused an estimated $3.4 billion in damage, according to a November 2019 report by the Inter-American Development Bank. The economy's rising debt and persistently high unemployment were exacerbated by Dorian, the IDB said. The COVID-19 crisis further depressed economic activity in the islands as the abrupt halt in tourism caused unemployment to jump and GDP to fall to record low levels.
The argument for economic diversification by investing in the oil and gas industry is gaining strength, especially after ExxonMobil discovered large offshore reserves near Guyana in 2015. Caribbean countries such as Jamaica, Barbados and Grenada have increased efforts to test their basins in recent years. Cuba and Trinidad and Tobago are already producing oil from offshore fields, and the Dominican Republic last year organized its first licensing round for oil exploration contracts.
Simon Potter, BPC's CEO, said oil and gas exploration can be "economically transformative" for the Bahamas.
"It could ultimately contribute billions of dollars in royalty revenues to the national treasury, at a time when the dual impact of recent hurricanes and the COVID-19 pandemic has been especially hard-felt by most Bahamians," he said in a statement.
I believe the author of this 2billon story has been creative with the wording as its title is misleading, but so are many of his opinions.
Ha ha... game given away again there is oil in P1...... why else would BG declare this sovereign fund based on oil income?
What are you still doing here then Cashy?
I read that post of yours, Oillie, and was gripped.............. !
then you ruin it right at end............. :(
All the best (Gov.Chesh.co.uk cancelled Dry Jan for 2021............. ! :)
Given the current economic difficulty in the Bahamas, and the timing, this sovereign fund must be linked to oil drilling. At the very least it helps strengthen the pro-oil argument in event of a find. Who would argue against national wealth?
The recent funding, while at a low SP, was probably essential in that it has taken so many years to get to this point, there is no way we can suspend drill before we get right to the depth we need to. It also points towards encouraging signs with the drill; if there are signs of oil then keep going; if nothing then stop and live to drill another day. And save the funding.
Given the sheer amount of research and money that has gone into this drill, you have to be confident we'll find what we're looking for.
Have a good weekend all LTHs; unless like me, your on Dry January.
Just gone blue...must be a mirage
http://www.tribune242.com/news/2020/dec/01/sovereign-wealth-backstop-oil-exploration-fall-out/
Cars, appreciated.
8 minutes into recording clear says its a 10 bagger if successful!
https://www.proactiveinvestors.co.uk/companies/news/912175/bahamas-petroleum-success-at-perseverance-1--would-be-a-game-changer--912175.html
3 min in debate give all the clear facts
Perhaps this is why the Prime Minister has moved first on the SWF. TD next week?
Thats as good as anyone could expect prior to drill
https://www.proactiveinvestors.co.uk/companies/news/912175/bahamas-petroleum-success-at-perseverance-1--would-be-a-game-changer--912175.html