Member Info for NellyB

page 3 of Keyfactsenergy Bahamas, where it says the following:

https://www.keyfactsenergy.com/media/country_review/Bahamas_AtvR44R.pdf

"From 1948 to 1955, the region experienced only limited
exploratory activity, though Gulf, in 1948 and 1950, did
attempt the first experimental underwater seismic and
gravity surveys. Regionally, the Gulf 826-Y well was
drilled west of Key West, Florida, notable as the well
flowed 18 barrels of 22-24API gravity crude oil from an
interval of anhydrite and carbonate (below 10,000ft)
similar to those anticipated within the Bahamas Petroleum
Company southern licences.
In 1956, Bahamas California Co. (Chevron) and Bahamas
Exploration Co. (Gulf) performed a detailed seismic and
engineering survey of the Cay Sal Bank area culminating
in the second exploration well conducted in The
Bahamas, the Cay Sal #1 (T.D. 18906 feet). The well
was a joint test by the two companies drilled in 1959
encountering "live oil shows" from 12682 feet to T.D., but
with no commercial quantities of hydrocarbons tested."

...you conclude that none of the historic Bahamas wells to date have encountered live oil shows? Hmm

I can - It was done after all of the previous drills and before P1.

There is no CPR that has been produced after P1, so what value does anything else add, for being done later?

Again, Please provide a link to what you are reading about historic Bahamas wells not having any live oil to date.

SVS have you even read the Bahamas CPR?

https://www.bpcplc.com/bahamas_petroleum_company_plc_-_cpr_july_revision/

Take a look at page 9, where nearly all of the drills to date have live oil shows :o)

Please share a link to what you've been reading.

http://www.tribune242.com/news/2021/apr/15/oil-exploration-fight-heading-full-trial/

'seems' to want, being the operative word. There is no way Fred has done a 180 degree turn overnight. This is another ploy on his own part, for his own reasons. Remember who he is representing and why. Don't be fooled so easily.

Well Fred at least made some semblance of sense in this latest news item, though I don't believe for one second he has BPC shareholder's interests at heart.
I suspect BPC thought it likely the judge would allow extra time for the defense to scrape their pennies together and that it was better not to be viewed as obstructive.
Let there be a swift and just end to this madness.

We don't know that the $200k has been raised. We know that Fred has stated they have raised the $200k.

hautecouture - I think you are getting this share confused with CCL.

BPC do have some cash in the bank, don't own any barges in the bahamas and do own drilling gear (2 workover rigs)

I think you are either mistaken, or talking crap :o)

The Bahamas government have a legal obligation to EXTEND the CURRENT Licences, assuming BPC has met it's obligations.

If BPC does not get a farm in partner and the licenses lapse, where does it say that the Bahamas government are obliged to issue a new round of licenses to another company?

I suggest that if a major wants in on the Bahamas, it's now or never and time is of the essence.

The Bahamas licenses value is far from worthless, If we can get a deal over the line. We could be looking at a lump sum of $100m-150m in back costs and and around 20% of future production. There is still a lot to play for here.

For those that say we're done and the licenses are worthless, do you put a bet on a football team and then turn the TV off in disgust when your team conceds a goal in the first half?

If the BOD were told that there would be a last minute legal challenge that would take funding options off the table and that someone would drop a lump of steel down the well, would they have acted differently?

Hindsight is a wonderful thing. but it has zero value after the fact.

Speak for yourself Burnie. I think there are still great things to come from BPC and I knew the risks of putting money in P1. I'm £9k down, but have faith in getting that back here, in the next 12-18 months, Just on the ex-Cerp assets. Don't forget that the BOD are major shareholders too, not least S Potter, with 80 million shares.

IF Bahamas farm-in lands, it will totally transform the prospects of the company. StatoilHydro were all lined up as a drilling partner back in 2010, before the Deepwater Horizon incident. We now have more data to attract a farm-in partner with. I'm not counting on it happening, but do think there is at least a 50/50 chance of a deal to be made.

What do we think are the chances of GR updating us on the DFS tomorrow? ("by the end of the month")

Placings to PI's take too long to organize and involves getting notifications out to financial institutions to distribute to Shareholders etc. There was simply no time to do this., whilst the drill was progressing.

*Also, what would the BOD say to shareholders as to the reason for the placing? P1 was drilled under a 'tight hole' agreement, so the BOD would not have been able to discuss drill issues. I think a placing at a time when we had been told the drill was fully, fully, fully funded would have spooked the market somewhat!

Lordsim, if you are in any doubt about the current BOD'd abilities, I suggest you take a look at the 3rd Nov update:
https://www.lse.co.uk/rns/BPC/operational-update-trinidad-tobago-and-suriname-7davwoso5lpxlq8.html
Lots of detail about what the BOD have been doing since the Cerp merger.

GR has 7% of the shares, 932 million of them.

Would be nice to get a big player with deep pockets involved that will take this forward at a pace, including fast-tracking the DFS. 14 months is a long time to wait, for things to begin to happen.

"Potter n co couldn't put together a bread n butter sandwich I again ask wot targets have been met over the prev 15 years replies welcome n don't say a drill, they couldn't even hit target depth, Would like Mr potter to answer why not his dummies on this bb."

Why don't you disappear then Harry?

If you have zero confidence in the BOD to deliver on their promises, you should not invest.

I for one do not believe you are here constantly to check on the progress of your one share, valued at half a penny, but rather to deramp this for a lower entry point, because you do actually think this has potential for return on investment.

You are becoming a veritable bore.

Easy - GR is talking about funding the $4 million DFS with a loan, not the future mining.

RNS taken completely out of context.

With a substaintial asset in the ground, that opens up new financing options for PREM. Getting $4 million, secured on an asset that is worth multiple billions really should not pose too much of a problem, even for GR.

The statement below clearly states the timeline of by the end of 2021, from Today's RNS:

"The Company's goal is to build profitable production and cashflow through 2021 and beyond, with a stated target of exiting 2021 with Trinidad and Tobago production, when consolidated with projected production from Suriname, in excess of 2,500 bopd."