Member Info for Kevin55

Sorry jdam not Jean spell correctors sorry

Jean

Approximately 5000 meter 17000 feet less then the tenneco

Eggchaser1
I know technology have improved and the chances are better than previous drills all I was saying is they would not have found commercial quantities after just 20 days.

They would also be testing to see there are commercial quantities it’s far too early to have found anything at this point. The drill takes 45 to 65 days we only in day 20.

History of offshore drilling in the Bahamas

How far have they drilled so far? There is no way they would have found commercial quantities after just 20 days

By late 1986, Tenneco had decided to spud the Doubloon Saxon #1 well; the deepest test drilled in The Bahamas to date and located within the current day Donaldson licence area. The well was successfully drilled to 21,740 feet, T.D'ing in the early Cretaceous above the regional Jurassic source rock intervals. The well encountered a number of live oil shows over a thick interval but did not report commercial quantities of hydrocarbons.

https://www.keyfactsenergy.com/media/country_review/Bahamas_AtvR44R.pdf?fbclid=IwAR0ViOTWFKZlBNUCWcGlppzigdLxO66CC6U8N3NzMHGL6th_9XkhiK9fEwc

Vote now takes 1 second

http://www.tribune242.com/polls/2020/dec/are-you-favour-bpcs-exploratory-oil-drilling/results/

Dashing through the sea
In a drilling ship we go
Over the waves it sails
Laughing all the way

Bells on the Ice Max’s ring
Making spirits bright
What fun it is to drill and sing
An oil song tonight!

Jingle bells, jingle bells,
Drilling all the way.
Oh! what fun it is to work on a drilling ship today.

A day or two ago
I thought I'd invest in BPC
And soon, Everyone was buying the same as me
The ship was big and ready to drill that oil from under the sea .The bank manager was very happy with me.

Jingle bells, jingle bells,
Drilling all the way.
Oh! what fun it is to work on a drilling ship today.

A day or two ago,
The story I must tell
I went out into the sea,
And in the distance I saw
The ice max drilling happy as they can be
As they laughed and worked they could smell the oil there its not long to go now for the oil to be found in the sea

Jingle bells, jingle bells,
Drilling all the way.
Oh! what fun it is to work on a drilling ship today.

Now everything is clear
Buy in before it’s to late
Take the ride today
and sing this oil song tonight
Just get in today then your be laughing all the way singing oil tonight.

Jingle bells, jingle bells,
Drilling all the way.
Oh! what fun it is to work on a drilling ship today.

Haha

Court has already ruled.
The ruling of the Court means that progress of drilling of the Perseverance #1 well in The Bahamas can continue unimpeded. As previously advised drilling of the well commenced on 20 December 2020, and is expected to be completed within 45-60 days of commencement, targeting P50 prospective oil resources of 0.77 billion barrels, with an upside of 1.44 billion barrels.

Happy Christmas

https://www.businesswire.com/news/home/20201224005212/en/Bahamas-Petroleum-Company-plc-BPC-or-the-Company-Outcome-of-Court-Proceedings-in-The-Bahamas-–-Application-for-leave-to-apply-for-Judicial-Review-Denied

Today Boxing Day gifts are under the tree waiting to be opened.
More share dilution so happy Christmas you just could not make it up.

The JR hearing
The JR is against the government not BPC although it impacts BPC 100%
The government have openly omitted they are totally against oil drilling and have tried to get out of the contract which is not the kind of thing you should be saying while fighting against a JR.

One of the first things that should be required from the government is to request a security bond if the drill is to be halted as it’s going to cost millions especially if the JR court date of s set for February.
Someone has to compensate BPC if the drill is delayed.
As you can see from the link below Justice Petra Hanna-Weekes has asked for this in the past and Fred does not have the money to pay the cost if they lose.
http://www.tribune242.com/news/2018/dec/14/abaco-group-appeals-supreme-court-order-pay-250000/

It would be very strange situation if they were not required to put up a security bond before the JR can be heard or BPC to temporarily stop the drill as it does not mean they are going to win the case and if they lose they will have to pay up big time.

Now as the government have said they have tried to get out of the contract so are they going to argue this case with 100% commitment? BPC will be there in court today as an observer and if anything other than 100% is not giving than serious questions would be asked.

Obviously the safety concerns are a massive problem if they halt the drill what they going to do leave a hole in the seabed that would be insane.
Have the ice max sit there in the ocean for two months waiting can you imagine the cost that would be incurred.

As this impacts BPC the judge should allow BPC to be heard at the hearing or throw the JR out until it includes BPC and a security bond.

I have no idea why BPC enter into a deal with 1798 volantis found limited as they were fully founded for the P1 drill and operation cost were covered for 2021 stated in previous RSN. They could have waited 60 days for the P1 results and if the results were good then they would have more favorable founding options available to them. This is a win win situation for Volantis and absolutely dire situation for BPC and PIs if the P1 is a duster or the drill is stopped.

Market closes half day before the court hearings lets all hope and pray this goes well for us today.

So I was watching Netflix season 18 episode 10 of Gordon Ramsey Hell’s Kitchen and who happened to be on the show getting their free meals for the day ? The waterkeepers alliance team. How bazaar was that.

Preparing for drilling possible spud on Saturday

https://fb.watch/2pa4Y_wcY3/

Reading the RSN response to the JR the activists have sought an extension of time to make their application
Meaning they need more time to get all their paper work together as they were late in submitting the application and they know the courts close on the 18th
This is why the jr is not showing up on the court listings as they are trying to extend the time of the application.
Basically they are just trying to do as much damage as possible.

extension of time to make their application
to extend the time for making an application for a review of a decision.

Court close on 18th open back on the 9th strange there no news on the jr but if it not listed before the 18 there no reason why BPC can’t drill and it be to late to stop them when the courts open as there be half way through the drill

Sorry if this has been posted before

https://d1ssu070pg2v9i.cloudfront.net/pex/bahamas/2020/12/08133633/Auctus-BPC_IOC_08.12.2020.01.pdf?fbclid=IwAR1133xBX5MTfmne7vELG-BQKR5M1hhs5u5v57-3Uy9w5iNmC0TR8SSgs4w

BPC already demanding "security for costs", a form of performance bond that the activists would have to lodge to cover the oil explorer's legal and other expenses if so ordered by the Supreme Court, Mr Smith voiced fears that both the company and the Government would seek to stifle the Judicial Review case by employing legal technicalities.
#"We hope BPC and the Government will not bedevil this case with procedural guerrilla tactics and trench warfare," he told Tribune Business. "We consider we have an excellent case and we invite them to have a trial urgently on the merits. Meet us on the battlefield."

I don’t see this JR on the court listings so maybe it will not be heard this year due to the courts closing on the 18th
Which should guarantee BPC spud next week.

I don’t know can he suspend the drill until the review has been heard?
Why put in a JR just before spud and the courts closing on the 18th?
Why not wait until after New Year

What are their tactics is it to win the review or just to stop BPC from drilling on the 15th
The supreme court’s will close on the 18th if there plan to stop stop the drill and continue the JR after New Year.
Making sure that BPC would miss their window of opportunity for spud knowing that the only other time they can drill would be in April by that time it would have financially hurt BPC.
I hope the judge can see this dirty tactic as I don’t think they are looking to win the JR but just stop it happing in this window.

They are a very nasty group

The applicants said while BPC is not a named respondent, and should not be allowed to “be heard on this application or at all in this action” until the trial of the motion of leave is granted, the company has allegedly “already begun to harry, beleaguer, oppress, harass and attempt to frustrate the applicants with demands that they are not entitled to make

https://ewnews.com/environmental-watch-groups-file-for-judicial-review-to-quash-oil-drilling-approvals

Unfortunately I believe Mr Fred Smith has no choice to submit an injunction.
He has single handedly kept the price under 3p
Damage BPC reputation
Hampered investors interests
manipulation of shares is illegal
If he does not submit an injunction then it would mean any lawyer/ solicitor could manipulate shares with false legal threats for reasons unknown.
It’s going to be a horrible 10 days waiting on Mr Smith injunction.
I would think he would want to submit it by Monday at the latest.