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It’s just articles media manipulation if this ,if that . BPC Cannot be stopped from drilling they went too far to be stopped they spend millions so far....And what BBC is doing is all in Bahamas favour.
#BPC has suggested that the Government could earn up to $5bn in royalty revenues over the 10-20 year life of the project, even with today's relatively low global oil prices that were last night hovering at between $45.57 and $48.84 per barrel depending on the indices.
BPC is drilling .
Getting closer & faster...ETA 12.58pm...... winds in her sails now... cheers bynari..
Wednesday 9th Dec 22.24pm
Stena IceMax Satellite(EA8RH) Atlantic Ocean
Status Underway Using Engine
Speed/Course 7 knots/263deg
Weather
Wind 14 Knots
Wind Direction 251deg WSW
Temp 25C
Distance to Freeport Grand Bahamas 941 Nautical Miles
ETA Freeport 15th Dec 12.58 pm
Map location - Lat. 26.656 Long.-61.432
https://tinyurl.com/yxnlffth
If everything goes alright when we start drilling Can you imagine how aggressive the share price will move . It’s a wow
Adrianuk
“our other assets which will bring exceptional cash flow short term”
I don’t think anyone wants to find out what the market really makes of those “other assets”. How much of the current £100M+ MCAP would you ascribe to them?
It is a last ditch attempt, though it has brought the matter to the forefront of people's minds.
The legal challenge should fail, though the conspiracist lying dormant in my head has awoken and suggested that powers (a super-major or major) outside the green activists may be responsible for this out of the blue activity. Anyone successful and stymying BPC at the final hour could be in line for a super-sized payout should it all go 7i7s up and allow some other suitor to come in.
Of course, the reality is that the conserve our bays brigade are behind it.
We will know soon enough whether this has just been a storm in a tea-cup like the RW was. For info their other vessels show no intent if visiting Freeport or anywhere nearby.
I don't believe it will be thrown out due to the 6months window breach alone (business contracts have been thrown out of the window citing force majure because of covid).
We just need to hope (and expect) that government and BPC did everything by the books. My trust is with them that they did. One thing for sure, if the opposition action is quashed in before 29th Dec, this share price will rocket quicker than any other til spud so the ride should be fun.
Solid point page of cups.
Icemax Is sailing to the Bahamas and P1
Looking forward to spud time !!
People have been working from home during Covid. Meetings and phone calls still happen. The courts still operate. It's done remotely. The arguments made by the activists are just not credible. It's plain to see. This application is a last ditch plea that no court will take seriously when looking at the arguments and excuses made. It is folly to expect a court can be so easily hoodwinked. The desperation is palpable by Fred Smith.
“However, they claim that due to Covid and associated restrictions they couldn't act sooner, which has some weight to it in this strange year whether we agree with it or not unfortunately.”
I don’t buy it. You would make you intention known within the requisite period and ask for an extension due to covid thereby not being time expired.
Trek
Very good point byrani
Covid shouldn't be excuse to the law rules
Wednesday 9th Dec 2020
BPC Attorney
Leif Farquharson, attorney and partner at Graham, Thompson & Company, which acts for BPC, in a November 30, 2020, letter to Fred Smith QC, the activists' attorney, argued that the Judicial Review application would "fail at the first hurdle because your clients do not have any arguable case, still less a strongly arguable case".
He added: "Even if there were merit in the proposed grounds for Judicial Review, the claim is long out of time and there is no good reason for an extension....The grounds for your threatened application first arose on February 25, 2020, when the minister made his decision. The decision was publicised at the time.
"BPC relied on the decision. Since February 25, 2020, BPC has entered into dozens of contracts with a variety of well service companies and consultants. A total of $9.1m has been incurred or contracted by BPC following receipt of the EA on February 27, 2020. In addition, its bankers, shareholders and others have relied upon the unchallenged grant of the EA in making economic decisions."
Although the 6months rule isn't mentioned in that particular article, it is in another on the and site. However, they claim that due to Covid and associated restrictions they couldn't act sooner, which has some weight to it in this strange year whether we agree with it or not unfortunately.
I do agree oldabutnowisa
until we get an rns
which could well come in the morning
we will have a derampers ,revolution
of expertize
Which is how I see it although if BPC have appointed counsel then one would assume at this late hour even they don’t want to leave anything to chance which echoes my earlier post of plan for the worst and expect for the best...
The IceMax keeps sailing on....
This article neglects to mention the 6 months window to file for a JR. We are now 9 months down the line.
The ship has sailed!!!
Pun intended
must come with clean hands. That is an ancient maxim of English law and an injunction (or even a stay) is an equitable remedy.
Since the activists have had plenty of time to mount this challenge without causing the massive loss to BPC that would now be caused, my years in the law tells me they should fail.
WARNING - Proselenes = Pro_S2009 of ADVFN fame and is rather bitter that his call that PRD would collect IT for a derisory offer would be accepted because in his words BPC needed funds for the P1 drill.
Newsflash Pro - wrong yet again... but we see you and so do others.. keep posting the manipulative lies as those posts are very useful... collar just tightened??
For us holders, our heads are telling us that the opposition shouldn't get far with their agenda, but to be honest I'm starting to wonder, due to the attention now being put on us, that the court may play it safe and allow a stay if proceedings/ review. Gut feeling only but I've had plenty of bad luck with my investments and less confident of drilling than I thought I would be. However, I remain a holder and cross my fingers!
What do we all think to this.... I hope it’s on the up now tomorrow. Sail sail.. find find..
New update. Plenty of detail.
http://www.tribune242.com/news/2020/dec/09/oil-explorer-fearing-500m-harm/
.
the big boys arrived last week and are still here, selling.