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The Bahamas definitely can’t claim to be corruption free however in comparison to a lot of the Oil producing nations it is very stable.
The political environment and the geographical location is one of the huge positives for this site. It will definitely be a preferred target for the big oil companies due to the lower cost of extraction and relative stability.
The issues mentioned in the article actually play into our hands. Biden will reduce fracking and the oil companies will prefer to invest in the Bahamas that risk the money in the other nations listed.

Picked up another 4 million as soon as I saw the tugs

Also the market is up this morning

I was more concerned with the a board member talking about The Bahamas government taking some areas back and a checkerboard situation where we get some and the government take others.
It seemed a very strange comment as I understood that we had the extraction rights to the larger area also.

Unfortunately this will often cause the share price to drop to the placing price as that is the perceived value.

Should be 2-3 weeks Jono

Jono, the RNS on the 17th was the 30 day notice. At least that is how I took it. It stated that the tests had been completed and things were on schedule. Not sure if the exact words but to that effect.

Londonwhale, you are correct my numbers were nonsense. We might get 20% of the $10 so $56 billion vs 10% of $10 which is $28 billion.
The numbers are not the point. I was trying to show the difference between getting a farm in now vs after the oil is found. Sorry for the misleading info.

The advantage of being funded for this drill is that we don’t need to bend over on a farm in pre drill.
This could mean the difference between realizing 20% of the product price vs 10% if done pre spud.
With the overall possibility of 28 billion barrels and 20% representing $10 a barrel. Do the maths, yes it is $280 billion dollars to BPC over the next 30 years

BPC have extraction rights and once proven will then get a farm in. Nobody goes alone on a project like this. Never the intention or a possibility.

Fatal everybody who had invested here should know that it was an exploratory well. They have never said anything to the contrary.
Once the oil is found we hold the cards as every oil company would want to be involved so the % that they will be able to maintain will be considerably higher.

Just to clear things up. My point was that the Bahamas and the US would take action in stopping any disturbance in Bahamian waters.
Who knows what form of action that would be. I am not worried about it and I agree that the Greenpeace involvement would bring publicity if it was to materialize.
No publicity is bad publicity and all that.

Rainbow Warrior 2 was bombed by the French. I did just assume it sunk.

Ok enough on Greenpeace. I would also have expected more movement but the general market are not sat waiting for our RNS to drop.
Hopefully the word will start to spread and the American market could be a buyer later in the day.

Stand corrected Rainbow Warrior 1 seems to be the same boat as 3. Only 2 was sunk

Rainbow Warrior 1 and 2 met the same fate so wouldn’t be that big a surprise

Yes Ross

Rossanne I have been boarded at gun point more than once for no real reason. I know you must be talking from experience also but the Bahamas military don’t take well to interference.

The Bahamas would without hesitation sink Rainbow Warrior 3 if they caused disturbance.

A very good RNS. Confirmation in line with the 30day notice and that everything is still on schedule is a big deal in these times.
The boat has done its testing, which if you know anything about boats is also important as they have a lot of things that can go wrong (even more so on a ship of this type)
The market should react well to this news.