Member Info for Findme

His going will be reflected in the SP.

...this might be us!

Pacific Drilling Khamsin drilled the Monument exploration well in the U.S. Gulf of Mexico for Equinor and found approximately 200 feet (c. 60 meters) of net oil pay with good reservoir characteristics in Paleogene sandstone. The discovery was announced in April 2020.

Rob, Black & Veatch are environmental consultants not drilling experts or members of the BG as Wail suggests and they will be subjected to the tight hole restrictions.

Wail, it is not likely that there will be anyone onboard the Icemax from the BG, this would not be normal. Icemax OIM and a Company man from BPC plus of course all other usual personnel.
As this well is being drilled in "tight hole" conditions, someone on board from the BG would be the last person BPC would want.

EggC, yes a little embarrassing but I was referring to P1 and the Bahamas licences in the matter in my post, should have been clearer about that, having said this and been one who totally disagreed with the merger I do think the main activity of this share will always be in the Bahamas for a number of years to come.

If oil is found in good commercial quantities then there should be a jump in the SP, not a big jump but maybe enough for holders in the share to make decisions as to what they feel is the way forward.
After this and remembering we are not a producer it is possible a takeover could happen. SP??
If BPC continue to go it alone then the SP will gradually fall back and fluctuate depending on whether we can drill for production purposes or we suffer the shenanigans of the tree huggers again. Then we have to drill and start selling oil and until then the SP will not rise significantly.
If we have a farm in, in the words of the Dragons in the Den, "I will make you an offer," " I will give you all the money but I want ?? % of the company" and then we will see what our investment is really worth. AIMOHO of course.

The CERP deal was alien to a lot of BPC holders but it was grafted on.

Sid, how do you know they did not like what they saw and walked were you privy to the negotiations. They may have really liked what they saw but were too greedy.

Put all the vaccine in beer and gin then open the pubs, all the country vaccinated in two days!!

"Based on today's decision, BG may not be allowed by the court to allow it. BPC really should have done better due diligence."

Titan, we shareholders believe after all these years that BPC has conducted itself in a proper manner and conformed to all the requirements set out by the BG.
If it was found that the BG were in any way negligent or unlawful in the way they conducted their affairs with BPC that impacted on the financial security of BPC arising out of a JR then I cannot see how BPC would not seek substantial damages.
If the BG were to lose in this matter then the costs would further impact on the debt that the BG already finds itself in.
The effects of this would probably not worry the upper echelon of the Bahamas but it would be an added detriment to the less fortunate inhabitant of the islands.

Hey Novice I can assure you at 77 I have had, and with a ten year old son, continue to have a very full life. One or two of my friends have asked me to consider writing a book. Forty years in the oilfield would take up a few chapters!!

JP, I have been in this share since 2010 and never shorted it but made a bob or two on the rises. If you look back on my posts around the time when some startling figures were being predicted when IM left Las Palmas then up to spud you will see I predicted the SP would remain low because of the trading that was going on due to the good news then further dilution, bad news. If the court case puts an end to this JR nonsense then there could be a rise which because the SP has recently been attractive to buyers will once again be traded.
So until the results of this drill are officially announced I do not see any significant rise that remains so. I will look for a good point at which I can recover my costs and leave me a good amount to play around with , I have a buy order to that effect. AIMOHO.

This latest crap from you just about sums up the garbage you have been spouting all year. I imagine by this evening you will have sobered up and will reflect you poor tormented soul.

Star, you might think this bulls**t is smart but it is uncalled for and childish so grow up. Happy New Year

Bugsy you are correct and it was wasted initially on supporting the the shenanigans associated with the dysfunctional car industry however things have improved since. The population of Norway is 1/12th of that of the UK and they have many policies that differ from ours, they also have their problems. I have been associated on and off with Norway in the past with the oil industry and have friends there but I would not want to settle there with respect.
If oil production in the Bahamas was successful then there is no doubt that income there would swell the coffers, it depends of course how the government use that money.

Pros. You did not answer my question as to why now for these attempts to scupper drilling in the Bahamas.
Why would the government decline oil production in the Bahamas if it could see the potential to lift the finances of the area considerably as it did in the UK as it did in the 70's.
If the Bahamas government were to abolish drilling for hydrocarbons after leading BPC along over all these years I could see serious financial consequences developing.
And another question for you to answer honestly. With an existing hydrocarbon facility already existing and regular hydrocarbon shipping through the Bahamas, what are the reasons for the objections now being put forward.
Please answer my questions honestly and improve your integrity which many on this BB seem to think is lower than ditch dirt.

Pros.
The Government of the Bahamas cannot "unreasonably" refuse to grant the production license.

However, if there is found a reasonable reason to not grant it, it may be refused.

Above you imply there could be a reasonable reason for the government to refuse a production license or are you just flapping your gums because if you think there could be good reason, why did this good reason not surface during BPC's negotiating period with the government over the last ten years.
Anyway I thought BPC had a 30 year agreement to drill and produce oil in the Bahamas?

TRP...., first I need order to sell And then buy lower..

Thats what I meant.

So TRP, get an order in for first thing tomorrow then clean up when it drops below.

These uninformed windbags led by Smiffy have no idea what they are messing with but I am sure the Judge can put them straight.

SRDoddy, Unless you are aware of the geological structures that the drill is penetrating or you have a mole on the rig floor then you will not be privy to the ROP(Rate of penetration).