Member Info for NellyB

Farm-in still being negotiated at Rockhopper.

See Zurichsee's post at 11.02 today:
"icemax,

current funds available $57.5mil
cost of P1 remaining $30mil (including $7mil contingency)
remaining $$27.5mil
against anticipated 2021 T&T and Suriname costs of between $15mil and $20mil

It's in the recent funding RNS if you care to read."

Harry bear in mind recent fundraising has not all been for P1.

We now seem to have adequate cash on hand for all planned activity in 2021, across the whole portfolio, increasing revenues to $15m/year by end of 2021.

The recent raises have been at a known price, which is sensible forward planning, as none of us knows for sure what the share price and hence amount of dilution will look like after P1 results.

The BOD didn't NEED to buy the Uruguay license either, but they are very forward thinking and opportunistic, so picked it up for a fraction of the usual cost, in a distressed market.

Cameron, This is an exploration well. This drill is simply to prove definitively if there is oil in this structure or not. Appraisal and development wells will follow, if we find commercial quantities of oil. The design and placement of each well is different, depending on it's intended purpose.

Why would they not hold for results? 1000% gain if we hit, 15% gain if we don't.

A doubling of shares, but all of the Cerp assets have been added, along with a big boost to the cash on hand for developments.

5/5 Bahamas drills ALL with oil shows to date and NONE of those were drilled on-structure, due to poor seismic and inadequate drilling equipment. I like those odds. :o)

Not sure if that's a genuine question or not, but probably refers to grey/gray water, depending on which side of the pond you're on. Water that is not fit to drink, but not harmful to the environment. E.g. Shower water.

Yep, Looks Like she's headed direct to the drill site now. Happy days :o)

Potter has said the financials are robust with anything more than 150m barrels, even at $40/barrel.

Looks like she's headed either to the shipping channel for transit to the drill site, or to Fort Lauderdale

https://www.marinetraffic.com/en/ais/home/centerx:-80.4/centery:26.1/zoom:9

That plan was with the Western Saturn drilling rig/ship. A lot has changed since then.

Well, that might not be so far from the truth. We are targetting 9 stacked columns and we only need one of those to hold 150 million barrels, to be commercially viable, even at $40/barrel.

"Probability of success is established by considering both geological and commercial factors.

The probability of geological success includes the four main geological components needed to have a petroleum system for commercial production and include: (1) presence of source rock available which is capable to generate hydrocarbons; (2) presence of adequate quality reservoir rock and better than cutoff parameters values to accumulate the hydrocarbons in; (3) a stratigraphic or structural trapping mechanism with a seal with retention capability of top sealing unit to hold the hydrocarbons (4 way closure; fault closure; hydrocarbon retention capability / lateral seal); and (4) a mechanism and proper geological timing allowing for hydrocarbons to migrate into the trap (trap formation/timing, hydrocarbon generation timing, hydrocarbon expulsion timing, route and distance of migration pathway.

Geological chance of success entails the presence of 6 parameters:

Chance of source rock being present (x%) and of source rock being effective (x%)
Chance of reservoir being present (x%) and of reservoir being effective (x%)
Chance of cap rock being present (x%) and of cap rock being effective (X%)

or Trap integrity, Reservoir integrity, Source evaluation, Timing/Migration"

http://www.hebrewenergy.com/probability-of-success-probability-of-geological-success-chance-of-success/

Just a thought... If P1 doesn't pan out as we (nearly!) all hope, Will BPC have a chance to have a second shot?

I don't expect BPC has ANY chance to get a 2nd drill funded and organised before the start of the 2021 hurricane season, but can it realistically extend the exploration licence yet again, given the mounting opposition to drilling? I think the existing licence is due to expire now at the end of June, right?

If you think you can do a better job than Simon and Uliel, why not send them your CV?

Better to take the money whilst it's available, rather than be caught short., when it's needed, but not available. This deal may have been in negotiation for several weeks at least, with the share price hotly anticipated to be way higher than it it is by now.

45-60 days for full drill to be completed.

Preliminary results should be announced shortly after the drill has been completed. I would expect a more detailed analysis to follow within a few days to a few weeks.

It's in the RNS, Tiburn:

"...a planned 2021 work program in Trinidad and Tobago and Suriname of between US$15 million and US$25 million, and a remaining cost associated with the Perseverance #1 well, net of amounts already prepaid, in the order of US$19 million - US$23 million (plus an identified US$7 million contingency, which may be required all, in part, or not at all)."

Titan, on behalf of my fellow investors here, I'd like to apologise for Linton's remark and hope that he/she finds it within themself to do the same.

We should welcome the input and opinions of the Bahamian people, not tell them to **** off!