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Thx sprite.

Just a thought folks:
I wonder if a BISX listing is on the cards.
This was talked about sometime ago and has gone quiet.
MacQ would be ideal for setting this up as one arm of a funding consortia.
The added advantage is it brings Bahamians on board for political positivity.
GLA.

Fingers crossed you’re right!
Problem now is I need to have several large ones in order to sleep!
GLA.

Looks like the gut feelings we had may be translating into something more tangible.

I believe that the deafening silence from The BG is significant.
They need finance to bring home election promises.
If there is oil, whilst that will take time to produce revenue in its own right; The BG can revert to the markets for funding.
This will in turn result in budget expansion and probable reelection.
The counter argument against BPC is that therefore the govt could withhold licenses and back a big Oiler.
Several comments on this:-
I have lived and worked in offshore centers most of my financial working life and the establishment deals with its own.
Secondly, I think, but am not certain that the licenses go out to 2021 as there was a 2 year extension to the first of 4x3 year tranches in the original 2007 Agreement.
I.E. The original 12 year agreement was increased by 2 years.
Also bear in mind that the requirement to “drill” within the agreements within certain timeframes was met by the registering of the EIA last year.
If the BG “reneged/spiked” BPC then there would be potential for legal recourse and also loss of national credibility as a business environment.
Some of this is in unchartered waters however we know all about that don’t we??
GLA.

I think you are right mon ami.
The fact we are hearing nothing from the company and importantly BG on such an important national issue suggests to me there is plenty going on in the background.
Normally I deal on due diligence, facts, research, financials etc.
On this one I am breaking all my rules, mainly because of Alan B - we are about to see something special.
IMHO. DYOR etc etc. Gut feeling rules on this one !!!
GLA.

Hopefully the next update simply says:

Q.E.D!

Quite right Bryn.
Folks should understand that an RNS can only be issued on specific, actual, definitive news.
Several respected commentators have had telecoms with the company’s reps recently and they all report positivity.
This is potentially one of the biggest deals in history assuming 28 billion barrels and will take some broking.
MQ have only really been fully engaged since September due to the exclusivity precluding discussion.
I made a prediction a year ago almost to the day that the SP would hit 8p.
I make the same prediction today although on deal news it will go much higher this time.
The company cannot issue nebulous comments like “things are going well” it is precluded by all the rules of NDA
As it would potentially affect the SP which would affect negotiations.
Patience is required but I believe not for much longer.
Still high risk but the potential is much bigger than most think.
GLA.

Also mon ami the context of the comment is relevant as he was talking to the Bahamas Tourist Industry and is probably relating to economy of business and price as well as image of the Bahamas clean/green vacation destination.
Hi
Quote: He challenged the association to do more to further diversify the tourism product and continue to promote The Bahamas as a multi-island destination. He also encouraged the installation of solar panels and the use of renewable energy in tourism resort properties throughout the islands. (BIS Photo/Yontalay Bowe) Unquote.
GLA

That’s why we win the wars it’s called ENIGMA mon ami.

Oh yes please.
X

Spike I don’t normally have a go at folks but you are totally wrong with your financial assessment of the company which I hope I can help you with re your investment M.O.
The company has “sufficient funds until end of 2019.
And specifically they raised funding for Macquarie as a separate funding earlier this year.

About as good a post as it gets mon ami.
Well done.
Xxx

Nope

BG have already agreed to this.
It is ticking the boxes now.

My friend do not do the typical investor action of fear.
This will be 20p by the end of the year.
Holdfast.

Girls/boys etc - certainly not adults - please be quiet (I had several phrases in mind but did not want to descend to the “troll” levels)

We are where we are because we are waiting.
The exclusivity cessation is not necessarily a negative for all sorts of reasons already aired here.
Anyone who has been involved in these million $ decisions, let alone billion $ decisions knows it takes months - LAWYERS.
The end of January is the end of most things on the table - MQ/reasonable time to drill pre next hurricane season.
In the interim whether you are pro or con the infighting and frankly petulance is pathetic.
STFU.
XXX GLA.

Spot on PI!

This is a standard interim results report not a specific news update RNS and also 3months out of date with the exception of additional notes re positive financial impact e.g. CEO remuneration and additional,cash flow from exclusivity payments.

It indicates that the cash flow is very positive and will carry us to at least end of 2019. I.E. 6 months past license renewal date.

The EIA issue seems to be causing concern to some folks.
IMO This is approved in principle otherwise:-
1) It would not have been applied for in the first place if the nod had not been given - this is how small jurisdictions do business. The same folks all wine dine golf church Mason etc etc together.
2) The Major would not potentially sign away and then pay hard cash (>$1.5mio) if the BG were not on board in principle.
3) The BG cannot issue the formal approval until it knows who it is dealing with - this will not only be BPC as principal it will be The Major/s. They cannot commit blindly for indemnity reasons re disaster scenario and the potential JV partners will understand that. Plus the final drill site will not have been confirmed without JV approval so again BG need more info before formal approval.

Forget The EIA it is a done deal imo.

GLA.

Nice one Davie well said Sir.
GL.

Thanks Keith - not had coffee when I wrote that - being a bit slow!
Got it cheers.
GL