Member Info for NellyB

I sure hope Potter and team get a chance to recoup the legal costs and stick Fred Smith and Co with the bill.

Skeletor, $35m / year in revenue might not sound like a lot to you, but it's $35 million a year more than we were turning over, 6 months ago! The point is, we have income and a sustainable business. Before we had Cerp assets, we had a binary gamble, which could potentially have finished the company.

The $35m/year is also based off $40/barrel, which I think will be greatly exceeded by the end of this year.

We've been told multiple times to expect 45-60 days of drilling and a target depth of 4800m to 5800m, depending on what is found. is this shareholder on the BPC group party to different information?

Prolenses, I was referring to the share price movement of Rockhopper around their intial discovery, nothing else. The share price was 39p on the 5th of May 2010 and £3.66p on the 1st of June. Are you telling me they drilled multiple appraisal wells and flow testing during that time?

My only point here, is a oil discovery can multi-bag the shareprice, before all of the technical info technical info has been fed to the market. Sentiment drives this type of share more than fundamentals.

Proselenes, if you look back at the Rockhopper Sealion drill, you will see that the share price shot up to £5.50 (approx 10x pre-drill valuation) in a matter of a few weeks after the FIRST exploration drill, before ANY other exploration was carried out. I'm sure you know this already, but it does not fit your de-ramping agenda here.

Approx 2900m, if on schedule

For anyone still doubting the legality of the drilling licences:

Legality of drilling contracts "airtight" - straight from the deputy Prime Minister of the Bahamas 5/Jan/2020.
Debate starts from 4:40, "legally they [BPC] have an airtight deal" at 7:15
6:05 "We [Bahamas government] can face liabilities of hundreds of millions of dollars"

https://ewnews.com/beyond-the-headlines-january-5-2021-part-2

JP what is your understanding of the target depth for the first oil? I'd picked up from the investor videos that 1st oil was anticipated from 3600m and below.

By my calcs, we should be around 2700-2800m depth today, if on schedule. (*drilling schedule posted on BPC sharehoder group - not sure how reliable it is)

If only they had some oil money - wouldn't need to sell it off.

Looks like the Tribune reset this poll, due to running this new poll "Are you optimistic that 2021 will be better for The Bahamas?"

Last I saw was around 3500 votes, with 76% in favour of BPC drilling :o)

Taff. I didn't mention transporting the flour. I mentioned transporting the wheat. You can't make flour, unless you get it to a mill and you can't grow wheat inside a mill :o)

Flour: Very likely produced in electrically driven plant, used to grind up the wheat. Wheat grown with use of diesel-powered heavy machinery, to plant, fertilise, harvest and transport.

Woolen Jumpers: Sheep fed partly on farmed crops (see above), Mainly raised in Australia and New Zealand and flown half way around the planet, using aircraft fuel.

Leather shoes: Derived from beef cattle, which are fed on intensively farmed crops, using heavy agricultural machinery to produce the crops,and road transport to move cattle to the slaughter house.

Well the save the bays group have played some very dirty tricks to show BPC in a bad light, so can I ask everyone here to add your vote to the Tribune poll on whether you support BPC's drilling for oil. Play them at their own game.

Link is here:
http://www.tribune242.com/polls/2020/dec/are-you-favour-bpcs-exploratory-oil-drilling/results/
No need to sign up to vote and only takes a few seconds.

I'm pragmatic about it. It is what it is. No point whining about what's already done.

I'm very pleased to be drilling a 100% owned asset, rather than a poor farmout deal at 10/90 or 20/80.

I'm not overly happy about the Volantis deal, or the £850,000 consultancy fees, but I do think it makes good business sense to secure plenty of capital ahead of the drill, to mitigate against a possible duster, or non-commercial find.

We have 17 other planned wells to look forward to in 2021 and beyond. We couldn't say that before the summer.
https://www.oilcapital.com/companies/news/935323/bahamas-petroleum-plans-17-well-campaign-in-trinidad-and-suriname-to-transform-production-base-935323.html

Most of that $100 million for P1 was spent on the seismic work, years before the merger with Cerp. How could the board have spend the money on the other assets?, as we had no other assets before this summer.

And whining and grumbling about the low share price is exactly what keeps it from rising. If I were a new investor looking to part with some change, I'd take one look at these boards and run a mile. Shouting down your own shares becomes a self-fulfilling prophecy.

I can see why others have filtered Proselenes now.

No reason for the SP to collapse to 0.5p The Cerp assets alone are worth more than our current SP. If Volantis sell after 60 days, the guaranteed 2.3p is not valid. There is a very strong chance that results won't be known until after the 60 days are up.

Our Islands have done some very sneaky editing to paint BPC in a bad light. I would say it's intentionally misleading. Sneaky B@rstards. https://ourislandsourfuture.org/#intro

Digging around on Youtube, I came across this 'video' that claims that BPC's drilling will damage business, fisheries and the airline industry. Since the video was uploaded on the 6th of December, it's amassed a whopping 4 views :o)

https://www.youtube.com/watch?v=DTiaizg0q94

Unless I'm very mistaken (wouldn't be the first time!) the royalty rates ARE based on gross production, not net profit...

After approx 50% operating costs are taken out, the remaining revenue is split at 12.5-25% (depending on extraction rate) to the Bahamian Govt and the remainder (25-37.5%) to BPC.