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Don’t think there will be a drop. Posture RNS , it will get thrown out. It’s not as if this a overnight thing that they have decided to look for oil lol
NOT a court case
They must have known this yesterday so why put that one out
Sub 2p today until court case decision
Don’t care! Not selling no matter what! This will get thrown out just a shame I can’t afford to add more on a dip ho hum!
Good time to buy , fill your boots !
You'd think there was 1.44 billion barrels of oil down there.........
Egg,
Yesterday morning you said to me .....
‘but of course you researched that nugget before you posted!!’
D4ft you.
There lots of inexperienced trader or buy/sell (they shouldn’t be rely on you all comments on this B.B.) but they are and now they are potential out of pocket because of inexperienced (panicked and press the button with loss)..
It not nice, PUT ON BB with facts.
Yesterday there was massive clue that they will objection but you just fib off...
End of the day it not bad news it just delays, arguments etc... but please post the facts for this inexperienced (I am aware they should spend what they can afford to lose but that not how worked).
The potential is still there....
All in a days work with BPC
Obviously not great news but I feel this uncertainty is somewhat already factored in the current SP.
The share price has been lower than expected since this issue was raised and as far as I’m concerned it’s not been been halted yet.
There has to be some consideration for how far this has come and the fact that, hopefully, all legal requirements have been met by BPC and the government.
GLA
As a commercial litigator (England) my view is that thins application will be expedited as indicated and dismissed within days. I will be buying in any significant weakness in the meantime.
Can you read Pro...
What line of RNS does is state a court case announcement
Hey Pro... Not want to give commentary on the fact the BPC and the government will challenge it... No?
Thought not - such is the spin from the lowest of society...
The drill won’t be stopped.. this mockery bs you idiots are talking about..
I still have a chunk in HL to buy more and ‘hold’ this baby..
There’s oil there and by Feb.. we’ll know for sure
This will be dismissed post haste and drilling will commence as planned
Why nasty??drilling is going to happen!!!!
As expected........very nasty for all shareholders left holding this baby now.
.
Another invite to the 87p party is in the post.
From the Nassau Guardian article:-
"On the issue of “safe oil drilling” the opposition leader, Philip Brave Davis, whose law firm previously represented BPC, in an interview with Eyewitness News, reaffirmed his support of oil drilling recently.
“Once we follow the regulations that are in place, both parties (Progressive Liberal Party and Free National Movement) have committed to ensuring that if it exists we should exploit it for the benefit of the Bahamian people. I share that view, once it can be exploited in an environmentally friendly manner,” Davis said."
Looks like a bipartisan determination, not only to explore for oil, but if it exists, to exploit it safely. That's good news for everybody if it's true, even for the Bahamian environmentalists. All IMO, DYOR
http://www.tribune242.com/news/2020/dec/09/oil-explorer-fearing-500m-harm/
The article is very interesting. It mentions BPC fears it could suffer "up to $500m in economic harm" if environmental activists succeed with [the 8/12] legal bid to halt its oil drilling plans.
Key points as I read them, some between the lines:
1. $500m? I read this to mean the down payment including back costs of a FARM-OUT with a major in March/April 2021!!!! I believe indicative sums and possibly MOUs have already been discussed subject to the size of any discovery.
2. It is excellent we have Clare Montgomery QC on the team. She has a wealth of experience (source https://www.matrixlaw.co.uk/member/clare-montgomery/ )
3. The activists do not want BPC to be party to the proceedings or the right to be heard. This is probably for liability purposes as BPC will almost certainly seek a minimum $30m damages bond plus costs deposit.
4. Apart from the merits of the case being highly questionable, the activists have two massive hurdles to overcome before even getting to the starting line: justifying to the court why they waited until the 11th hour to bring an action and that it is outside the 6-month rule. Covid-19 is a lame excuse and so is the allegation that BPC ‘harry, oppress, harass and attempt to frustrate the applicants with demands that they are not entitled to make’. I allege this assertion is ridiculous. It is the activists doing the harassing with an allegedly malicious attempt to hurt ‘tiny’ BPC and its shareholders. We are not Exxon.
5. There is a third hurdle activists need to prove, that their case is in the public interest. I suggest it is not, for the simple reason the Bahamian nation has the right to know if they are sitting on oil wealth, and the only way to know is to proceed with a carefully planned and already approved TEMPORARY exploratory well.
6. It will be interesting to see if the attorney general Mr Bethel QC, seeks a multi-million dollar damages bond. If he does, it is a confirmation the Gov may be liable to pay BPC’s costs if spud is delayed. Why? Because it gave environmental and other approvals, which BPC acted upon to fulfil its contractual obligations. It wasn’t for BPC to ask, ‘are you sure?’. In fact if the Gov does not pay BPC in the unlikely event the spud is delayed, it will lose all credibility for future infrastructure investments involving external parties. Eg, ‘please provide a tender to build our new airport despite a chance we may never pay you and by the way, we will have the right to change the goal posts on a whim if our courts tell us to.’
All the above opinions carry the usual caveats as I am no legal expert.
IMHO. DYOR
Have a great night. I'm going back to bed. Night night.
Starchild
https://www.lse.co.uk/profiles/starchild/
rossannan - clearly much more than a anti- Koot obsessed bigoted troll would!
I’m back in tomorrow, but only to make another 10%, this share’s a wee goldmine....
The applicants say the reason for their delay in bringing this challenge is that they were misled by the minister in May 2018 into thinking the project would not go ahead and so were unprepared when the February decisions were announced.
Hey man what's happenin. Been
sleeping since February can we stop this drill?
Lmfao
Stena on the track. Thanks for the update bynari.
Great stuff bynari - let us see what tomorrow brings us. I am grateful to be having a busy weekend working so will keep me off this for a bit lol - stay safe all ;@)