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http://www.tribune242.com/news/2020/dec/23/bpc-warns-safety-risks-if-drilling-halted/

Just a publicity stunt by the QC – he knows there is no case. I bet he picked up some nice fee’s though.

From one of Fred's clients at court today?

I’m not sure it is fair to paint one ‘side’ as environmentalists and the other as ‘not’. It is apparent the government has held BPC to the highest environmental standards throughout.

By any measure, Fred Smith, Louis Bacon etc have done a very poor job in their self proclaimed roles of protectors of our environment. BPC and the government of the Bahamas have clearly done far more during the past decade to assure as safe a drill as possible.

You have every right, as do I to object to the use of fossil fuels etc. and few would disagree, but I do wonder what you’ve been doing for the past ten years when the opportunity to actually stop this exploration was there? It has all been done in the public domain; no secret meetings or brown envelopes passed around as you’d like to suggest.

These last minute theatrics and misrepresentations destroy any credibility you may have once had … you’ve done a very poor job at every stage and now look like spoilt kids throwing your toys out of the pram. The people of the Bahamas deserve much better than the likes of you … irrelevant windbags focused on your own self interests pretending to be something you are not. Twist the reality as you see fit, but your abject failure to engage early in something so massively important to the people of the Bahamas speaks volumes.

This drill should not be going ahead. It could have been stopped years ago. Our environmental groups have let us down at every point. They should apologise to us all, and do everything they can to stop any discoveries from being produced.

Stop this ‘playing to the crowds’. You have already exposed your incompetence and need to stop flapping about like a headless chicken. Get organised, get funded and mount a proper legal challenge instead of this amateur, third world, social media driven nonsense. This is SERIOUS, big boy stuff and you have failed us all.

They would have run 20" casing down to 1000m and run the BOP on the riser by now. They are probably now drilling 16.5" hole down to 2240m for the next 6 days then 2 days to run 13-3/8" casing, about this time next week. May get some gas on the way down.

https://d1ssu070pg2v9i.cloudfront.net/pex/bahamas/2020/12/03113504/100760-BPC-Environmental-Fact-Sheet_revised_02-12-2020.pdf

Fred Smith making all sorts of accusations now.

Smith accused the government of wasting money unnecessarily and judicial time, having hired a British QC for the case.

“Instead of wasting money and time fighting Fred Smith, they should look at how important the issues are and they cooperate and fast-track it to an early trial,” he said.

“They may as well change the name of the government to the BPC government instead of the Bahamian government. They should leave BPC to fight its own fight. Unfortunately, they are not.”

I'm sure APT will be influenced by rig rates. Right now rig rates are cheap, and rigs available, but with a rising oil price in 2021,we will see the rig rates go higher as rigs become less available. On top of that there is a lot of pent up demand post Covid-19 and with the oil price crash, Leaving the more higher specified rigs at a premium. Leaving drilling until 2022 will risk there being less rigs available, particularly the higher spec rigs, therefore higher rig rate. It would be sensible for APT to lock in a rig at lower rates as early as possible. The drill pad is more or less ready, so a rig and long lead items can be mobilised asap, if needed.

https://www.proactiveinvestors.co.uk/companies/news/937363/well-watch-2021--the-small-oilers-waiting-on-big-drill-news-in-the-coming-year-937363.html

Aminex (LON:AEX)

After its wheels were left spinning until the Tanzania farm-out deal closed in October the company’s gas project is now set to kick into gear.

APT, the new operator of the Ruvuma asset, will lead an active campaign through 2021 with the aim of making the project ‘development ready’ by 2022.

Drilling the Chikumbi-1 appraisal and exploration well will be a highlight and key catalyst in 2021. The well is planned to start by the second quarter and run into the third.

The Supreme Court of The Bahamas has issued a ruling refusing leave in relation to an application for an extension of time to apply for Judicial Review of the decision by the Government of The Bahamas to grant BPC Environmental Authorisation to proceed with the drilling of Perseverance #1, and an associated stay of BPC’s activities.

For the Judge to formally deny the application, the application needs to be heard further due to the applicant requesting a hearing in their application of the JR. As such, the judge could not deny the application on the 24th December without a further hearing on the 29th.

The key sentence here in the courts statement is 'associated stay of BPC activities'
This relates to the later points that the applicant are arguing.

• An Application for leave to apply for a Judicial Review, brought against the Government of The
Bahamas in respect of BPC’s Environmental Authorisation, has been denied
• A request for a stay order (halt) to BPC’s drilling activities has also been denied
BPC advises that the Supreme Court of The Bahamas has issued a ruling refusing leave in relation to
an application for an extension of time to apply for Judicial Review of the decision by the Government
of The Bahamas to grant BPC Environmental Authorisation to proceed with the drilling of Perseverance
#1, and an associated stay of BPC’s activities. The Application was brought by environmental activists
against the Government of The Bahamas.
The Court has indicated that written reasons for thisruling will be provided on or around 29 December
2020, and that there will be a further hearing on that date. The precise nature of the further hearing
will be notified to the parties and BPC on 26 December 2020.

The Judge has already decided. The filed documents have been dismissed.

By virtue the later claims are related to the timed out claims, the later claims are null and void.

Typically there does not need to be a hearing where it is clear the documents submitted are out of time. The judge has dismissed the filed documents on their own. But because the applicant has requested a hearing as part of their application, the judge needs to return to court, rather than dismiss the documents at the application stage due to the filings being out of time.

Once the applicant has been heard, the Judge can formally pass judgement.

The matter has been adjourned as the JR application requested a hearing. The Judge is obligated to give a hearing to the applicant. The Judge has denied a JR, but still needs to hear the applicant, as is their right.

The application for JR has been denied. For the Judge to formally give their verdict a hearing must take place.

The application for JR on the decision to approve the granting of environmental authorisation for drilling has been denied, hence drilling will continue unimpeded. Therefore there is no case. As for the later points regarding decisions on the environmental authorisation, these will be addressed at the hearing on 29th December on the fact the application for JR has now been denied by the Judge, pending the hearing, these later points are also invalid. Much to the consternation of the environmentalists, they are out of time in their application. This therefore impacts on their later points regarding decisions taken in August and November. The EMP that allowed granting of the environmental authority is a living document, hence revisions are allowed to ensure best safety practices and environmental management procedures are in place at all times. This includes equipment such as a drilling rig.

Smitty and the environmentalists probably will have to pay legal costs for BPC and the Government, or BPC will make a claim for costs. About $350k.