Member Info for PageofCups

Bahamas Petroleum summarized the results in a press release, saying they: “Add to the already sizeable body of evidence, derived both internally and from independent advisors and experts, in support of [BPC’s] view that technical risk of the prospects is relatively low, thereby increasing confidence in a successful outcome of the exploration wells.”

These are facts not ramps. Dyor.

A geophysical and seismic interpretation of the carbonate rocks systems in the license area, enabling Bahamas Petroleum to identify direct hydrocarbon indicators (DHIs), as well as strong evidence of the presence of reservoir porosity and permeability.
A detailed paleogeographic study, establishing the presence of “a Late Jurassic oil-prone source rock and active petroleum system in the Santaren Channel” in the BPC license area.
A seismic attribute study of its 3D data, deploying what it calls “leading-edge industry technology,” in order to assess the fracture and fault network near proposed well sites.

3D analysis of areas adjoining the BPC licenses in Cuban waters, as well as oil samples from nearby sites provided by the Cuban National Oil Company, helping to establish the Bahamian license sites as Bossier-Smackover, belonging to the same Late Jurassic petroleum systems as those found in Cuba and the US Gulf Coast.

These carbonates when sourced get charged to full. The carbonate folds in the Bahamas are slap bang in the oil window for sourced generation.

Over 60% of World oil production is currently associated with carbonate reservoir rock. This is a fact and there is a reason for this.

Some have no appreciation for just how loaded this drill is.. Most frontier wells would be happy at one or two targets. This drill has 10+ targets, all about to be intersected with one drill. Carbonate fields are the massive finds which produce at high rates. One drop of oil sourced, and we have a charged structure, 1000 metres thick, with high porosity and permeability. Vuggy rock that meant circulation fluid losses in the drilling of the previous wells in the Bahamas will mean the oil will flow like a saturated sponge. Managed pressure drilling will minimise the fluid loss to the vugs, allowing the reservoirs to maximise the oil flow. Sensational results expected.

Here is a reminder as to what Perseverance is all about.

https://www.youtube.com/watch?v=_UwzQ8gHF4U
https://www.youtube.com/watch?v=rQT-xRi6JbI

Should hit first oil target next week after 13-3/8" casing has been run to 2240m. Drilling 200m per day. Start running casing at weekend and start drilling 12-1/4" to 4950m. First two targets T1 2420m., T2 2747m.

The EIA and EMP have been submitted under the Petroleum Regulations Act 2016. It is this act that allows for the granting of oil drilling and not The Planning and Subdivision Act or Town Planning Committee.

I would think APT will need to demonstrate meaningful progress by April 2021 so as to be seen to moving forward on it's obligations so they can be granted an extension to the licence. This would mean demonstrating they have operations for the drilling of Chikumbi-1 and the seismic well advanced. imo

The EIA and EMP have been produced and submitted under the laws of the Petroleum Regulations Act 2016. The Town and Planning Committee & the Planning & Subdivision Act do not apply. Fred Smith knows this, but is just trying to cause trouble and waste everyone's time while he gets paid by the hour.

Perhaps Fred would like to add the local neighbourhood watch or the local residents association to the Application. Might aswell, while he's at it.

There is plenty of oil, be in no doubt of that. Absolutely billions of barrels.

Why do we think the environmentalists and Fred Smith are trying so hard?? Is there someone who doesn't want BPC to be the one to find the oil first? Is it that, if Perseverance gets completed, there will be a new basin of easy extractable high quality oil that might shift the balance of power? Finding big oil in a location like the Bahamas has huge ramifications not just for those opposed to oil drilling on ill founded environmental grounds, due to The Bahamas already being a major oil storage and transhipment hub, not to mention the amount of fossil fuels the tourist sector consumes in the Bahamas and would be dead without it, but it will be a problem for the US, Cuba, Mexico and Brazil, if it turns out the Bahamas has more oil than all of them. It is not good for those producing nations. It will suck investment out of those areas if there is cheaper oil of high quality that can withstand a low oil price. Bahamas can actually affect the global oil market eventually. Producing 1m barrels a day would be nothing if what is thought to be there, is actually there. 28B barrels is the upper estimate.

There is no hurricane. Smitty just being a wind bag .

Another befuddled argument from Smitty. Grasping at straws now, is Fred.

Nothing wrong with decoupling from the well temporarily with BOP on well head, however it is a problem if a court ordered a stop to drilling, hence the safest procedure is to carry on drilling as per the well design.

The well can be temporarily suspended for a hurricane with BOP left in place. However there is no way Stena would leave a $10m BOP on the well head for a longer period than a hurricane. They will need it for other wells to drill.

Warning that this process would have to be "rushed", he added: "With that comes the potential for it to be ill thought through, and without all significant risks fully and thoroughly assessed. This would therefore represent a considerable increase in safety and environmental risk."

#Mr Bond said the premature full abandonment of Perseverance One would see BPC forfeit the $25m spent on it to-date, while reviving the well at a later date would cost "roughly double the original $35m contemplated" to complete it.

#As for temporarily abandoning the exploratory well, he suggested the drill ship could have difficulty in finding the 36-inch hole on the seabed whenever it returns. The well would also be "considerably less secure", with Mr Bond arguing that BPC cannot be held liable for "leaking materials on to the seabed".

#"If drilling operations get underway and a court in The Bahamas were to then order drilling to cease, it would be completely impossible to 'stop'," Mr Bond warned. "To do so would involve removing the rig and various tiers of safety equipment, which would leave the half-drilled hole open and unprotected. It is not anything that any competent operator would ever do....

#"For this reason, it would be my strongly held view that once drilling operations commence the safest, most responsible course of action would be for those operations to be allowed to run their course in accordance with the current drilling plan. Any early suspension of activities would introduce additional health, safety and environmental risk for no good technical reason."

Mr Bond's December 18, 2020, report, which is attached to Mr Potter's affidavit, argued that none of the three options available to the Stena IceMAX were satisfactory from a health, environmental or logistical perspective if a Supreme Court "stay" forced it to suspend drilling operations.

#Should the environmental activists succeed, he wrote that among BPC's options is for the Stena IceMAX and associated safety equipment to "hold in place" at the drilling location until the Supreme Court determines that it can proceed and complete Perseverance One.

#The other two choices, Mr Bond added, were to "permanently abandon" Perseverance One before it is finished or "temporarily abandon" the well hole, then re-enter it later on to either complete the project or bring it to a total stop.

#Citing his 40 years' experience in the international oil and gas industry, and role in directing the drilling of onshore and offshore wells, he wrote that it was essential to safety to protect the well hole and ensure there was no "uncontrolled" movement of fluids and gases between it and the surrounding marine environment.

#Noting that Perseverance One's well hole was just 36 inches in diameter, and could already extend 1,200 metres (4,000 feet) below the seabed in the early stages of drilling, Mr Bond said: "Thus in reality, once drilling commences, if a court were to order BPC to 'stop' it would not be as simple as BPC ceasing activity with the drilling vessel and equipment moving away.

#"Rushed or arbitrary removal or interruption to the presence of any or each of the 'protective measures' identified above would immediately threaten the integrity of the well, and potentially leave the seabed open to reservoirs and associated gases, fluids and influx materials."

#The 'protective measures' were identified as including the "casing", or steel pipe that is cemented in then drill hole to form a barrier with nearby rocks; the blow-out preventer; and managed pressure drilling system that controls pressures "inside the wellbore".

#Going through the three so-called "options" available to BPC in more detail should the Supreme Court order a halt, Mr Bond said "holding in place" would be equivalent to carrying on drilling as the Stena IceMAX and more than 100 crew would have to remain at the Perseverance One location.

#Given that drilling Perseverance One was expected to be a 45-60 task, he argued that "holding in place" was not "something that can be sustained for long, if at all" given that the drill shop as well as BPC's contractors, supply boats and helicopters are all booked for work elsewhere once The Bahamas project is finished.

#Noting the "financial cost and logistical challenge" would be significant, Mr Bond said BPC may be unable to secure the specialist personnel needed to properly cap Perseverance One if it took the second option of abandoning the well early.