Member Info for Parpaing

The RNS is on thr website, https://www.bpcplc.com/

Perseverance #1 well targeting recoverable P50 oil resources 0.77 billion barrels, with an upside of 1.44 billion barrels. Reduced cost estimate creates scope for expanded formation evaluation work in the success case, without increasing previous estimated total capital requirement.

· Optimal funding strategy and timing, including farm-out process, being reassessed accordingly.

Simon Potter, Chief Executive Officer of Bahamas Petroleum Company, said:

"In March 2020, we were within weeks of commencing the drilling of our Perseverance #1 well when we were compelled to defer our planned drilling programme due to the impacts of the Covid-19 pandemic. Immediately we undertook a range of activities necessary to reschedule activity toward the end of 2020 and into the first quarter of 2021, consistent with our licence obligations (as extended for the declared force majeure event), by which time we expect the worst of the broad suite of impacts of the pandemic to be behind us. To this end we are pleased to announce that we have today entered into a rig contract with Stena Drilling, which provides a firm series of parameters on rig rate, provision of MPD, mobilisation and demobilisation costs, and defines a revised drilling window of 15 December 2020 to 1 February 2021.

Drill Rig Contract Signed, Drill Cost Estimate Significantly Reduced, and update on timing and progress towards Commencement of Exploration Drilling. Unconditional agreement with Stena Drilling for the provision of a state of the art, sixth generation drilling rig, including integrated supply of a Managed Pressure Drilling (MPD) unit.

· Firm window for commencement of drilling between 15 December 2020 and 1 February 2021, consistent with licence obligations as extended by the Covid-19 force majeure event.
· Reduced estimated total cost of Perseverance #1, down by approximately 15%, based on the contracted rig rate and rates for other contracted services and equipment, reflecting changes to the global operating environment.

Hi IK,
Russia is certainly not bust. It has massive reserves of oil, gold ,coal, gas and other resources that USA could only dream of.
Russia contains at least 30% of all world resources. Worlds largest gas reserves. Europe is reliant on Russia for gas. Plus wonderful, beautiful, intelligent women with great down to earth personalities.

The US will be drilling for oil nearer to the Bahamas than our wells will be. Our well is about 100 miles from the Bahamas and the US planned oil rigs will be a bout 50 miles away. in any case, we have authorization now and the Environment and housing minister Romauld Ferreria said that"The country needs another industry. We have to make a decision. Are we going to find out if it exists in commercial quantities? The real fundamental issue at play here is: Do we have oil? That is the $1bn question everyone wants answered. We have to drill a well to make a final determination.”
willibobs: It's the MMs. They can set the SP wherever they want - even down to a farthing.

Talk about the pot calling the kettle black!
There are many offshore wells in Florida. What about their environmental impact?
The Trump government is planning to auction off Florida's coast for oil and gas.
Revoking BPC's licence would be catastrophically expensive for the BG.
The best way to prevent BPC drilling would be to buy BPC. Maybe these particular congresswomen can do that?

The Chancellor is ready to hand out 124 billion GBP to innovative firms and companies in R&D. Well, that's BIOM!
Biome Tech can fast forward their work with government help.

I am not open-minded about the pandemic. In 1969, Chairman Mao Tze-tung said that the chinese People's Liberation Army is the main component of the state which must do all in its power to engage in all types of revolution around the globe. the communist party paid and sent couples and families to every country in the world to set up cash businesses. these people would have to send a portion of the turnover back to China. These people then had children who integrated into the country they were in and were not interested in the communist Party. In particular, the children in the Western countries. So, they could not be relied on to continue the Communist Party's wishes. A virus, however, can be relied upon when it has been created to enter human cells easily. Today, Fox news stated an accident happened in the poorly managed laboratory in Wuhan and infected an intern who then transmitted the virus to her boyfriend. he then went shopping in the market. The contamination speed of the coronavirus is incredible. Dr. Judy A Mikovits PhD, a USA molecular microbiologist knows that this virus came from a laboratory and is not naturally found.
The coronavirus pandemic will transform capitalism. A new financial system will have to be invented. Industry will be increased so that countries will no longer rely on China for cheaper products. The Chinese will financially suffer from a reduction in orders form the West and Russia. The nature of globalisation and structure of international capitalism will change because they are undermining democracy. The EU will either fall apart or strengthen. The USA will create a new economic standard to create mass employment with the 'Buy USA' tag. DYOR on this. Loads of info available.

Hi Spiritefan, if a CMA is investing in BPC then it must be a good bet!
When I mentioned shooting the accountants I meant the big four - Deloitte, PWC (the business undertakers) KPMG etc.
I understand that a CMA actually adds value to a business and adapts to changing circumstances, so mustn't shoot you.
Cheers!

Shoot all accountants. They are the scourge of entrepreneurs and have too much power. Create industry in Europe. Make everything we need here and not in China to save money. Cap CEO salary and no bonuses. Create apprenticeships and industrial colleges. Let's get the UK and Europe back to the way of the 50s and 60s when everyone had a job and you were embarrassed if you didn't have job. Nationalize banks because they are rubbish with money. This is what the governments have to do to create some hope, satisfaction and decency in the general public. rant would continue if i was PM.

This virus game is a 'reset' button for the world economy. The governments and banks have failed to come up with a sustainable economy. So the 1% have decided to use this current 'crisis' to create a new economy. Many things will change. Maybe they will reduce physical cash as much as they can, so that they can control every cent. Buying gold is traceable, so cryptocurrencies may become popular. The 1% will control salaries and surveillance will increase. The police are catching more criminals easily in this crisis. However, the professional gangs are the governments and banks. They will certainly have greater control with this bio warfare because the virus or threat of virus will continue to control the masses. As for BPC, I hope it will continue to move forwards and drill without yet another problem/reason for delay.
Good luck all and keep breathing clean air.

Why are the MMs still working?
They are spreading the virus by traveling to work and being close together. The stock markets are not essential business, they are just casinos. AIM is even less essential and should be shut. Then we don't have to look at the rubbish they do to LTHs. Rant over. It's sunny in France and no aircraft in our area. Have a good day everyone!

New bread making machine arriving today. So at least we can have fresh bread in the lockdown.

Interesting paragraph in the RNS:
"In addition, in recent weeks, the global crisis occasioned by the Covid-19 virus has seen a number of potentially value-creating alternative strategic options presented to the Company, which the Company is seeking to evaluate over the coming months. The Company will advise shareholders on this matter as appropriate. "

Wonder what they are?

We don't have to carry heavy bottled water (which is not filtered to the level of reverse osmosis) from the shops which is a blessing. Our water is used for cooking as well as making tea, coffee, drinking. The pre-filtered tap water is only used for showers, washing hands and the dishwasher at 60 degrees C.

Check out Human viruses in water in Wikipedia. https://en.wikipedia.org/wiki/Human_viruses_in_water
Public water is 'treated' but not down to the virus level. Our water company supplies water after filtering it but it is still dirty even after 'filtration' and chlorine. That's why we have a prefilter system then a 5 filter reverse osmosis system to clean it ourselves. They are not expensive - about 100 GBP form Amazon.

Hi Starchild,
But with everyone washing their hands, is the virus in the water now?
In France we are forced into staying at home under a financial penalty and can only go out after downloading a form from the government. The government is sending an SMS on our phones to stay inside!!!!
This has never happened before and they are taking drastic measures which makes me think that we have not been told the truth about the virus. It would appear to be a manipulated virus and the governments know about it.

Nor me.

Its the MMs playing again. The AIM MMs have created huge distrust in their dealings and have turned AIM into a rubbish gambling den. We are not Private Investors, just gamblers thanks to the mischievous and amateur MMs.

The MMs are driving the prices down on most shares. Look at BIOM, No buys or sells yet the SP is down over 9%. I hope the AIM mms get the virus 50% more than everyone else.