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Ross do you believe that the BOD will take the Put even if they currently see no oil? That is the crucial question to everyone to ask themselves this week.

Egg that is the kicker and rarely talked about. If P1 is successful then that also makes the development of the CERP assets much easier due to access to finance.
On the flip side on a duster then that development money may be hard to come by.( if we stop the drill this week) If a duster after the Put is taken then we will no chance of developing and likely will fold.

Good to know Ross, so we can safely assume that your FOMO is talking every comment you make.

Sorry couldn’t help myself

Sharescare she was saying that in the UK the 1,000 times part was a figure of speech that we may not understand in the Bahamas.
For instance if we hit oil our shares will be worth 1,000 times what they are now.

This is the first time I have really addressed any of the derampers, I have done a lot of research and my comments are based on information I have to hand.
I have called out Star for ramping previously and try to put forward both sides of the argument unlike yourself why just hammers on about the negative side.
So you have sold out and obviously have serious FOMO as that is the only explanation for your constant posting unless obviously you are such a great charitable Samaritan that you are just worried for all of us. LOL

Irene why would you post informed comments continually on a share that you are not invested in and have not been invested in?
Maybe what you are saying is that you have had shares but sold due to your lack of belief in the results.
This equates to the same mentality as being burned as you don’t want the regret of not being invested in case of a success.
I understand and currently have been fighting this with AML which I recently have sold out of. It has definitely skewed my mindset.

Pros, Ross and Krapp all have been burned by CERP and BPC so have a negative skew on all the information they provide.
Ross I think has a few shares but the other 2 have none.
The fact is the well will provide sufficient information to attract a major who in turn will prove the rest of the find. Does this limit the upside?
Yes it does which is why the valuation provided is based on in the ground oil and not true value. ( billions will be spent to extract this oil over the coming years)
The Bahamas has a stable government (relative terms) and is situated very well for the logistics of oil extraction. This find will be prioritized over many other assets that the large oil companies will be looking at.
The argument on the political side will go away once the oil is found as the Bahamas will not turn down the royalties.
Oil is found we will all do very well. If not I hope at this point everyone knew what they were getting themselves into.
I say it as I see it, for good or bad as you guys will have seen and in no way is this a win/win however for the non shareholders to continue to portray that even on a find the value is not there is wrong.

June is very far back to compare and many more shares have been added since. 80-85 we would have been all very happy with a few weeks back.
The last few placings have been at considerably lower levels so it is difficult to predict where it will settle.

Icemax, no pressure from Volantis yet. You will need to wait until after Wednesday to find out what effect that will have.

Ross the political thing will not be an issue once oil is found so that is off the table.
The modern drill bit with continuous status updates will be sufficient fir a farm out. The wireline will give them a better negotiating tool and may be necessary for a sale of the asset.
Flow testing is not necessary at this point however whatever the next step will be this will be included.

Tiburn lathe dilemma with that is if they take the risk by continuing to go deeper the funding has to keep coming and the current death spiral funding will sink the whole company and finish the BOD’s careers along with it.
So if nothing is showing early it will be unlikely they will continue. When I say early I mean by Wednesday when they have to make the decision.
Chances are currently they already know which way this is going and will be planning the next steps one way or the other.

Correct audible, they may not even require the wireline. If we are showing towards the high end of the estimate then I believe they will go ahead and spend the extra on the wireline to increase BPC’s negotiation strength with the majors.
Remember this discovery is one of the best locations for logistics and despite the hiccup with the court case the Bahamas is a stable political platform and would be preferential to many of the South American alternatives.

“ The quality of pressure and rate transients measured during wireline formation tests has improved greatly in recent years. The transients obey the same laws of physics as those measured during a well test and can theoretically be interpreted in the same way. “

Ross from the wire line data they will be able to give a good estimate to what is in the ground.
Obviously then we will seek a farm out or a buy out of the asset. Either way this will create the value. All the values discussed are still low compared to a flow tested in multiple locations asset so as things develop over the coming years the price will fluctuate.
Personally I would hope that the asset is sold.

10-15p on the low end (700 million barrels) rising to 20-25 in 12 months with good CERP development.

30-40 on the high end (1.4 billion barrels) rising to over 50 with good CERP development.

Duster 0.5p if we stop the drill before the next finance is taken. Rising to 2p in 12 months with CERP development.

Duster 0.0p if the funding is taken.

Doyezee, you will always be able to drive it but you may be restricted from certain areas and fuel in 30 years time might be a bit tough to come by.

Stille is that 3300?

What is the reason behind the dark tight hole? Why would giving operational updates be an issue. Everyone would have the same information and we could all make our own decisions.

The issue was how bad the initial deal was. With the updated deal and the free ride to results the first deal seems like BPC did some great negotiations only giving them a 15 percent guarantee.
LOL how crazy is that, 15 percent over 2 months guaranteed being the worse deal.
I am giving the BOD the benefit of the doubt that all other options had been removed from the table due to the ongoing legal case and maybe some other conditions had not been met.