Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Roberta Quant, BPC’s environmental scientist, previously told Tribune Business that the insurance coverage for the Perseverance One well will fully cover any tourism or fisheries losses “in the highly unlikely event” of any spill or environmental impact.
#She added that the company had obtained protection “considerably in excess of the minimum levels of cover required by the Government” for the well that is currently being drilled in waters some 91 miles to the west of Andros near the maritime boundary with Cuba.
#All necessary insurance cover had been secured through Aon UK, with insurers from Lloyd’s of London and other international markets underwriting it, Ms Quant said. “This policy provides cover for the costs of halting and remediating any incident during drilling, including the costs of redrill, the costs of drilling a relief well, and the costs of any remedial or clean-up operations,” she said.
#“The insurance policy also provides third-party liability cover losses that might be suffered in the highly unlikely event of such an incident – for example, losses that a fisherman or hotel might suffer - although, as mentioned, this is considered to be an extremely remote and highly unlikely possibility.
#“The level of insurance cover obtained is considerably in excess of the minimum levels of cover required by the Government, as well as commensurate with or in excess of cover in place for similar wells being drilled in other locations in the world,” Ms Quant continued.
#“It is also worth noting that the insurance companies – who will be financially exposed to the costs of responding to any incidents – required BPC’s drilling plan, Environmental Impact Assessment, Environmental Authorisation and Environmental Management Plan to be submitted to a third-party technical review.
#“This review assessed all BPC plans, policies and procedures to be of global standard, with risks appropriately identified and planned for, such that the project was able to secure insurances as required. Furthermore, all of our main well contractors, being Stena, Halliburton and Schlumberger, again global names and industry leaders, have extensive insurance policies of their own in place.”
http://www.tribune242.com/news/2021/jan/19/oil-explorer-blasts-baseless-claims-over-its-insur/
"10 years i've been here and seen it all. Beware any posters who use "" to constatly re-quote other posters. These are most likely paid up members of profesional squads that work silly shares like this for nefarious means. And low wages. Which is why they are always here........ knawing away like a sore bunion."
My bunions are sore
Themuir, the answer is "like a bulldog chewing a wasp"
https://mobile.twitter.com/BPCplc/status/1352645197520375808
Icemax the first 1 minute 40 seconds on the Game Changer video, is very telling
Just putting relevant BPC material up, so new PIs can access it without scrolling through all the diatribe.
First 1:40 very telling about the Bahamas peoples view.
https://www.youtube.com/watch?v=rQT-xRi6JbI&t=53s
https://www.proactiveinvestors.co.uk/companies/news/907872/bahamas-petroleum-awaiting-news-from-perseverance-well-907872.html?fbclid=IwAR3WPWz5OzsOo3MQ61wLYIaKS8szjDNqlSqVxJRtrGUvYAe29CSQlfOs7FA
About the company
Bahamas Petroleum PLC (LON:BPC) is becoming a multi-asset ‘full cycle’ oil and gas firm, with assets in the Caribbean and South America.
In the Bahamas, it has five offshore licences covering four million acres and applications for a further five. The most advanced exploration prospect is Perseverance, a high impact prospect where drilling is underway.
In Uruguay, the OFF-1 licence covers a high-potential but early-stage area off the Atlantic coast.
Through an agreed takeover of Columbus Energy Resources PLC (LON:CERP) for £25mln Bahamas added production, appraisal/development, and exploration assets across Trinidad and Suriname.
BPC told investors that the combination will create a “Caribbean and Atlantic margin focused oil and gas champion”.
How it is doing
Perseverance-1 is a high-impact exploration well – high risk and high reward – targeting estimated potential resources in the range of 770mln to 1.4bn barrels.
The well will be drilled in the northern segment of the ‘B Structure’ to target some 770mln barrels of recoverable prospective resources, with the ‘upside case’ estimates potentially pitched twice as high.
The B Structure is seen across some 70-80 kilometres and could host up to multi-billion barrels of crude resources.
Elsewhere, newly acquired acreage in Uruguay is described as being directly analogous to the prolific Cretaceous turbidite discoveries that are currently being evaluated and developed further north, offshore Guyana and Suriname. BPC secured the project via a low-cost option.
BPC described the Columbus assets as entirely complementary.
The production base in Trinidad will allow the company to generate cash. It comes with opportunities to leverage a range of low-cost developments via workovers, reactivations and new wells targeting shallow reservoirs, and new wells targeting shallow reservoirs.
What the boss says, Simon Potter
“We knew it would require capital to facilitate such a growth strategy, and, accordingly, we laid out a clear plan as to how we would secure that capital incrementally over time.
"Now, with drilling in The Bahamas well underway, and with a broad program of value-adding work about to kick off in Trinidad and Tobago and Suriname, we continue to draw on the various elements of the funding package we worked hard to put in place over the past 18 months.”
What brokers say: SP Angel
“If successful, Perseverance-1 would be transformational for the company, and indeed the frontier region in which it operates.”
Can we take Roseannes 15th place as legit ? Shes been MIA for 10 days !!
Keep a close eye on the price on the build up to next weekend.
This was a nicely timed Tweet from BPC, fair warning given, results inbound.
As January comes to an end, so does the January sale here.
There will be no more 2p buys going forward, this train is about to leave the station.
AlllllLLLLL Aboard
https://www.yumpu.com/en/document/read/64836057/bahamas-petroleum-company-investec-buy
https://d1ssu070pg2v9i.cloudfront.net/pex/bahamas/2020/12/08133633/Auctus-BPC_IOC_08.12.2020.01.pdf
New investors sign up to hear Simon Potter CEO of BPC on 28th January it could be very insightful
https://ondemand.webinarjam.com/trading-stocks-forex-etc/qyyvgs6yx-proactive-one2one-investor-forum-28th-january-2021