Member Info for Prospect-

Think it was just a case of buy the rumour sell the fact. Fact being no RNS today. Some on here are extremely jumpy. Weak longs who are skeptics but scared also of missing out.. who knows... who cares...

Interesting parallels with BPC prior to CERP acquisition. However, can't see them exploiting Cuban assets unless Biden embraces the Castros.

http://www.melbana.com/site/content/

CarsCoffee,

Agree. Think we can agree that oil exists in the area P1 is drilling. It's not a question of if there is oil but one of hitting the bullseye.

Repsol drilled a well in Cuban waters in 2004 and found oil there, but for various reasons, including the longstanding U.S. trade embargo against the island, has not drilled again.

https://www.reuters.com/article/cuba-usa-repsol/u-s-lawmakers-urge-repsol-to-drop-cuba-oil-plans-idUKS1E78R1P920110928?edition-redirect=uk

Jdam,

Just a stone throw away from P1.

New Oil Deposits Discovered in Northern Cuba

The discovery came after drilling was down on what is known as block nine — a part of one of the 59 production areas in which Cuba divides its territory for oil exploration.

https://en.panampost.com/sabrina-martin/2016/08/02/new-oil-deposits-discovered-in-northeastern-cuba/

Foreign Oil Eyes 44 Billion Barrels In Cuba

One of the few foreign energy companies with a presence in Cuba is now seeking funding for a 2018 exploration drilling campaign for Block 9, which is expected to hold over 44 billion barrels of in-place potential oil reserves.

https://oilprice.com/Energy/Crude-Oil/Foreign-Oil-Eyes-44-Billion-Barrels-In-Cuba.html

20bn barrel oil discovery puts Cuba in the big league

https://www.theguardian.com/world/2008/oct/18/cuban-oil

The Australian company MEO Australia Ltd, who entered the field of oil exploration in Cuba in late 2015 through an agreement with CUPET, has found light oil on the northern coast of Cuba.

According to the website Align Research, the first estimates put the oil at a depth of between 2,000 and 3,500 meters, with a potential for 8,200 million barrels.

The discovery came after drilling was down on what is known as block nine — a part of one of the 59 production areas in which Cuba divides its territory for oil exploration.

Zone nine is reportedly full of hydrocarbon, as it is located near Varadero, the largest producing area in the country, operated by Canadian Sherritt; and Motembo, the first commercial site in the history of the Caribbean country.

OIL

Agreed, there must be anecdotal findings that point to hydrocarbons, even at this stage, and, hence, the option exercise.

Proselenes,

OK so peeps wake up and find they are below 0.5 so what's change? They are down a a few squid and wipe the dust of their feet and carry on with their mundane lives as normal. However, if they wake up and find it above 20 they open the prosecco and get themselves that whatever it is they always wanted that makes their mundane lives that little bit more tolerable.

Proselenes,

Trying to determine what your interest is with BPC given that you clearly see this as very high risk and assuming you are not short?

Is this you being altruistic? If it is then I think you are on the wrong forum since everyone agrees the risk is high and are prepared to reap the reward if it shows.

Whatever happens P1 completes with significant hydrocarbon shows the pressure will be on to gain the benefits especially when GDP growth is expected to fall to -8.3% in 2020 and pick up to 6.7% in 2021, subject to the post-pandemic global economic recovery. Very doubtful that 6.7% is going to be realised with the current Covid situation. The judges are now pitting themselves against the economy every time they rule in favour of spoiled brat environmentalists.

Sharescare,

This is an interesting development:

"Director Dealing



BPC announces that on 23 December 2020, Leo Koot, a Non-Executive Director of the Company, transferred all his 28,093,156 ordinary shares of 0.002 pence each in the Company ("Ordinary Shares"), at a deemed transfer price of 2.19 pence per share, to the Explorer Retirement Scheme, which is managed on a discretionary basis by Tilney Investment Management. Leo Koot is the sole scheme member and the sole beneficiary is currently his wife, Elizabeth Wittebol. "

Surely, if Koot thought this was a bit of a waste of time he wouldn't be doing the above.

Let's hope the wife don't do a runner at some point rofl

If anyone was trading on the back of these comment unless privy to insider info they would be selling stock and liquidating BPC. The direction of travel from comment here is extremely negative. All this talk of investing what you can afford to lose is the straw that broke the camels back.

Just button it. If your not comfortable get out instead of saying your comfortably because you've invested what you can afford to lose. This isn't suppose to be a casino. The data is provided. Study it then stick to your guns or quit and run with whatever losses as early as you can be fore the herd drops a falling knife.

Having said all this, this is a discussion forum and peeps are welcome to post as they see fit.... no doubt some will be screaming worse than a lunatic asylum at this rate.

Have we or have we not been shafted by BG et al who are behaving like a Piratical Republic getting BPC to spend millions, soaking hard earned investors money and then going through a court process.

Go to the Bahamas and get shown how to turn millions into pennies.......

https://ewnews.com/smith-bpc-has-poked-a-hole-in-the-belly-of-mother-nature

Since this is an exploratory well which will be plugged and no extraction can advocates for multi-bag explain how this will multi-bag if:

(a) Oil is found
(b) Well is capped

CNN forget that tourism is dead due to the pandemic. Are the people in the Bahamas suppose to starve for the next 5 years whilst the effects of this virus continues to devastate. Fighting the virus is like fighting a war and the Bahamas has a right to raise money through oil as much as the US government.

Benjamin Hornigold and Henry Jennings. Hornigold was mentor to pirates such as the famous Edward Teach, known as "Blackbeard", along with Sam Bellamy and Stede Bonnet. Jennings was mentor to Charles Vane, 'Calico' Jack Rackham, Anne Bonny, and Mary Read. Despite their rivalries, the pirates formed themselves into the 'Flying Gang' and quickly became infamous for their exploits. The Governor of Bermuda stated that there were over 1000 pirates in Nassau at that time and that they outnumbered the mere hundred of inhabitants in the town. Blackbeard was later voted by the pirates of Nassau to be their Magistrate, to be in command of their republic and enforce law and order as he saw fit.

Pirate Thomas Barrow declared "that he is Governor of Providence and will make it a second Madagascar, and expects 5 or 600 men more from Jamaica sloops to join in the settling of Providence, and to make war on the French and Spaniards, but for the English, they don't intend to meddle with them, unless they are first attack'd by them."[1] While originally the pirates had avoided attacking British ships, this restraint disappeared over time, and at their height, the pirates could command a small fleet of ships that could take on the frigates of the Royal Navy. The amount of havoc caused by the pirates led to an outcry for their destruction, and finally George I appointed Woodes Rogers as Governor of the Bahamas to bring the piracy to an end.