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Cebar, the explortion licences come with a 30 year production licence with the right to extract oil should economical discoveries be made. The exploration period also gets automatically renewed provided obligations are met. Key obligation is the drilling of one exploration well prior to the new extended licence date of August 2021.

Supply vessel heading to Freeport.

Currently South of Abaco.

IceMax has been escorted across the Atlantic with a supply vessel due in to Freeport. IceMax has the option of going straight to drill site with supply vessel rendezvousing later.

For The Bahamas Government, if they ever stopped BPC from drilling oil, then they would be sued for huge damages. At every stage the Minnis government have been very supportive of BPC and the project, mainly due to the legal position that the government cannot stop the oil drilling, but also from the point of view that oil is now requirement as part of diversifying economy for The Bahamas. You might not agree with oil drilling, however it is a resource and asset that is very valuable to a country like the Bahamas, and so it's not always possible to stop things you don't like, provided it's done in a safe and environmentally friendly way, which is why the Bahamas Government strengthened and updated it's petroleum regulations and the petroleum act and introduced a sovereign wealth fund act for future oil revenue. This is something that all future governments will implement as The Bahamas oil industry grows and the economy can have the opportunity to power ahead should vast quantities of oil be found. If the government were not in favour of oil drilling, then they would not be contesting the judicial review.

All of the BPC licences come with an automatic legal right to a 30 year production licence in the event commercial oil is found. There is no point exploring for oil and finding it without legal tenure to extract, hence BPC have a 30 year production licence that comes with the licences.

Who's to say some of the Ntorya cash ($35m) can't be loaned/diverted should Aminex need it. If cost savings are available with rig rates and seismic, then some cash may be released by ARA as an advance. The farmout says that if not all the $35m is spent then this money gets paid back from ARA's gas revenue until the full $35m is realised.

The fact they don't want BPC to be heard tells you all you need to know. Attempting to supressing evidence is a sign of the weakness of their own evidence. A judge will be acute to this and will see through this and will help the judge to make up their mind in favour of the government.

Kevin55, Yes, it does seem the environmentalists actions are malicious with their timing and intentions, which leads one to conclude their arguments are not genuine. BPC have been very open about their plans for drilling. Anyone with any real interest in the environment would have known that BPC were preparing to drill, whether in April, or October or December. BPC have been very open and honest with all information and preparations released in the public domain, as has the government. The claim that they did not know BPC were going to drill and that they thought Covid had stopped the drilling, shows how disingenuous they are and not honest and demonstrates they will try and distort the truth to get what they want. I think there is a law against this. I'm sure a judge will be asking about there allegations and find they are misleading. Attempting to mislead a judge will be a serious breach of any legal professional.

Thank you Stach for the recommend. To be honest, I don't think the environmentalists do themselves any favours. Their hypocrisy is something they can't get away from.

I doubt a judge would want to be associated with this dubious application. It would be poor judgement on their part to give any consideration to the arguments and excuses made by the activists when bearing in mind that the main reasons for this application are a political and malicious nature, rather than anything that is genuinely unlawful or illegal. A balanced approach that is not emotionally biased or swayed by politics or the environment will be how a judge will view this. It means only the legal facts and the lawful decisions and procedures as demonstrated by the government, and not construed by the environmentalists, will be relied upon. Those decisions and procedures will have been adhered to under the legislation and regulations current at the time of granting the EA. By all accounts, the government and BPC have done nothing wrong other than to upset a minority of people who feel they can shout the loudest. The silent majority of the Bahamian public are reliant on the government to represent their views that will allow oil drilling in a way that is safe and responsible without interference from a minority group that are hypocritical about the use and need for oil and accuse oil drilling as being morally wrong and unsafe, but then go and jump in their cars and boats and planes and consume goods to their hearts content.

As we know, this application has no merit . The good thing from all of this is, it has brought closer together the Government and BPC and the opposition party to drill for oil. There is no doubt about the governments commitment to drill. The environmentalists have managed to unify both parties in what is now a much needed revenue for the Bahamas should oil reserves be found. This is not just about whether there should be oil drilling, but whether the Bahamas can survive the effects of hurricane Doreen and Covid. An oil reserve akin to Guyana is something the Bahamian people are entitled to know exists. It would be tragic if this was denied to them by a few people.

People have been working from home during Covid. Meetings and phone calls still happen. The courts still operate. It's done remotely. The arguments made by the activists are just not credible. It's plain to see. This application is a last ditch plea that no court will take seriously when looking at the arguments and excuses made. It is folly to expect a court can be so easily hoodwinked. The desperation is palpable by Fred Smith.

The Environment Minister has already explained that the assurance that there will be no drilling was in reference to new licence applications, not existing licence applications. There is a deliberate misinterpretation from the environmentalists on this matter, to fit their agenda.

The IceMax is a zero discharge drill ship and self contained. Even when it rains the deck water goes into drainage channels and stays in tanks. There are no discharges into the ocean.

They should buy some shares.

Surely it's cheaper for the Zubairs to buy SCIR unfunded 25% ?

If they can secure a rig on lower rig rates now as opposed in a years time, then depending on the cost saving and the preparations at the well site, they can bring the drill forward. The 3D is not a requirement to drill as the location for CH-1 has already been chosen/prepared.

Would anyone really want Aminex to raise cash to work on KN1 only to have the gas produced not paid for. There is no sense in that. Receivables must be paid first in order to have confidence. Any work programme is going to have to include the money that is owed. As has been stated by Aminex, the government recognise they owe this money. They need to pay. Interest is accruing. I am sure the new team at Aminex are focused on getting this money.

Bonkers price today. Will it last?