Member Info for NellyB

Potter never said he would double the rates. He said BPC would be paying double (the minimum) that the law requires. His comment was taken out of context.

I don't know what quantity of gas would be needed to be commercial, but BPC has negotiated a fixed royalty rate of 12.5% to the Bahamas government if a commercial gas find materializes. (Oil is on a sliding scale from 12.5% - 25%, depending on rate of extraction, in barrels per day)

Eytan Uliel, Sept 2015:
"The oil shows in the historic wells were sort of 32 API, so that's quite light oil. It's different to the Cuban oil... but that's as much as we know at the moment"
16m 30s:
https://www.proactiveinvestors.co.uk/companies/news/304127/bahamas-petroleum-presents-to-investors-at-oil-capital-event-4127.html

Not sure if it helps much, but The operational rig rate was $185,000 per day in 2016
https://www.vesseltracker.com/en/Ships/Stena-Icemax-9517575.html (small print on the right)

Harry - a wise man careful sifts trough all available information, before making up his mind. No need to change it, unless the circumstances change after the fact.

Security for costs is exactly that: to ensure that the party making the legal challenge have the means to pay the legal defense of the party being challenged., if the case is to be found without merit.

Why should BPC pay for the nonsense shenanigans of this bunch of disorganized jokers? BPC is a business, not a charity.

The results of the drill, whether positive or not, have zero bearing on whether the correct procedures were followed prior to spud. That is all this case is focused on.

Joatman, that is all previously published info, in public RNS's.

...and I'm going to invest in LEGO shares! £850 for a few plastic bricks. Wow.

I'm not usually quick to complain, but that was terrible. If you can't present, use someone who can. That would have been better as a powerpoint slideshow, with no voice.

I think the mention of April was in reference to either the sovereign wealth fund, or ongoing court case.
I'm certain there will be an official RNS before the end of February, with at least preliminary results.

More muppetry from the environmentalists. I read about this in the Environmental assessment before the drill even started. Though from memory, it should be a 2km safety zone, not 500m.

By the way, what's the difference between a bosom and a breast?!

Probably because it was a six month transition period in which to smooth over a company merger and because in that time he's not done anything that materially changes the new business. It seems of little relevance to his overall career. Ask instead, why WOULD he put this on his bio?

Just a question...
I notice this morning at 8.05 there is a transaction on the list of LSE trades that has a minus sign in front of the 290,000 shares and the cash value. I don't recall seeing that before. Can anyone enlighten me as to how / when this happens?

Harry - regarding Saffron, I think this will be a major subject of the presentation on Thursday. It's imminent.

Harry - the 'tight hole' RNS made it clear that this was at the request of the Bahamas government.

Now Krapper is a ramper? LOL

PLEASE DON'T FEED THE TROLLS

Petroleum Invest, I suggest you re-read the recent funding strategy RNS. It makes very clear that the recent funding has not all been raised for the P1 drill alone, but instead for a comprehensive 2021 drilling programme, across the portfolio of assets.
https://www.lse.co.uk/rns/BPC/funding-strategy-reconciliation-put-option-q1fivhxlfqfrlak.html

Eggchaser, You can't blow away a bad smell. You have to enclose them in little green boxes, where they can do no harm.

Prospect, the BOD made it very clear in an RNS that this was a 'tight hole' drill - no information is expected, until the drill results are known.

Personally I interpret that as not hearing anything about the P1 drill progress until at the very least, 45-60 days have passed.