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It's the asset that key here. it's there biggest percentage operating interest in an upcoming drill. Baja are also a really good partner and operator and can save costs with their knowledge and expertise.

I think they have seen a way to drill the Falcon 1 well and keep 60%, without needing to farmout. They will now have the lions share of production. Xstate probably not happy with that.

New Providence is where Shell are building a new LNG power station. This however has already been awarded and announced. Obviously the power plant is going to need a healthy supply of uninterrupted gas. They will possibly drill for gas offshore. The prospects BPC have are in the order of 107Tcf gas and 12 bn barrels of oil. This gives a resource of ~30Bn boe.

Anyone got L2. What's it looking like?

Sentiment has changed here. The low sp will attract buying. The PSA and licence more or less reviewed by the Tanzanian Government..

Just bought some as a punt. It seems low enough considering how close we are to PSA's being awarded.

The Kibo licences are for mining coal not for oil and gas. Oil and gas is different as they have a PSA. This is the sticking point with the Tanzanian authorities as they want to renegotiate the sharing element with all oil companies.

Big seller still around. 2m dumped.

I think everything will be fine.

He should be able to hit the ball down the well when it's drilled. Apparently they're are going to put a flag in it, so it won't be a complete waste of money..

Live bid / offer, 0.2662 / 0.2778p
Last couple of buys showing as sells

Massive production increase.

Oil fever will hit the majors. Billions of barrels out there lying in new basins. Majors need to find the prospects that have high quality seismic and had the most work done on them that de-risks the chance of success and are big enough to give them the fever to want to drill. The finds in Guyana can only enhance the possibilities for BPC due to the drill ready status and the work they've done, imho.

CPT announced results of their Range project finding gas in there most recent well in coal beds. They have a knack for successful drilling so their geophysics must be good. A sign for Dukas.

Took some here this morning. I like the management.

This time next year 1.65p will seem like a distant memory and all the pain holders have endured will be forgotten. Some will say I wish I had bought more.

All it takes is a major to say lets do this then. The last time they jumped in and paid for exclusivity. There will be no exclusivity this time. Just offers and seeing what others are wanting to do and getting the best deal. Minimum wells drilled in programme (1, 2, 3) how much of the licences wanted, any claw back on discovery of oil, percentage of future costs paid on operations, back costs paid, do they want to go in with someone else and have a consortium etc.. or is it a big fat No from everyone..unlikely, imho.

Just need things to go the right. A watched pot never boils but you can be sure the heat is on. Just a matter of time.

Ruvuma is small beer compared to offshore. If they are really waiting for the Government to decide on all 11 PSA's, then the wait here is going to be a very, very long time . The offshore PSA's need more scrutiny due to the multi trillions of scuf, so Ruvuma is a mere speck. As the onshore can be drilled and gas delivered far quicker than any offshore production, which is 5 years away or more, then the Tanzanian government should be giving priority and the green light to onshore PSA's much sooner due to gas being able to be brought on stream far quicker and thus the government benefiting . Sounds like the government are not in a rush and prepared to wait this out until they can screw every last drop from the oil companies and maximise there cut. Is it going to be worth it for the oil companies?

Sounds like it's all hanging by a thread and the Tanzanian government are dragging this one out until Ara get fed up. If they were so keen to get gas flowing and the Tanzanian governments cut in revenue then this would have been given the green light by now. Zubair content to extend until 31st October, but must be getting thoroughly ****ed off and sound extremely disappointed. How the hell can they have confidence in ploughing millions of dollars into the project if the authorities are not to be trusted with their delaying and commitment to gas projects. and moving the goal posts. Clearly the Zubairs have asked the Tanzanian government do you even want us involved in this, to which they've had to reply yes of course. Just not now, or yet. Only so much they will take before they will just give an ultimatum to the government, get this licence done or we are off.