Member Info for ShareScare

Richard the 3rd ??

With the caveat BPC decide to take it up as mentioned in the RNS

I hope fortune favours the brave

Cars, as an aside, there is a PI on this BB with 120 million shares. If that PI had chosen too he could have put us exactly where we are now regarding the SP and still have 75 million to get rid of.
Just wondering what people would have thought of that PI if he did that.

And obviously with 45 million already sold shows they do not intend holding them

Yes its not a position its a legal requirement because they passed the threshold

Taylor my response was to Mark

Star child we know

Yes but I doubt the plan is to hold them

Indicates that they have managed to sell 45,000,000 shares

Icemax approx $27 million

No grand kids this year so will pop in to wish her a merry xmas

Cars, that is a receipt not a bill

Zag, don't sweat the small stuff

Posts before 11am, I guess my morning is catch up

Cars "once these 10 mil have been dumped and another 5 within 10 days we still have another 5 to dump before the 60 days is up. Lots to look forward to during this time while we wait for the results"

That seems like an assumption ahead of the 10 days

·" Alongside the Funding Agreement, BPC has also entered into an option agreement, whereby BPC has an option, AT ITS SOLE DISCRETION, to raise up to a further £3.75 million (US$5 million) from the Investor within 10 business days after the spud of the Perseverance #1 well on substantially the same terms; IF BPC SO ELECTS, the Investor has the option to double that amount, thereby providing BPC discretionary access to the full £15 million "

Glide everyone loves semantics on this BB.
The article I posted shows the AG is talking about renegotiating royalties.
The royalties currently stand at 12.5% up to 75,000 barrels to a peak 25% for 350,000 barrel and above.
And then goes on to talk about a 50/50 split

Why not just go 50/50 right off the bat on all profits ? The Bahamans will see the upside to that, and a deal is better than being tied up for years in disputes. But everyone is ahead of themselves we need to find the oil first.

#"The royalty structure is embodied in law and the licence. The law establishes a royalty that we have to pay for the production of oil and gas, and the licence we signed provides more royalties on top of that.

#"It doubles the amount of royalties we'd pay under the law. We agreed with the government many years ago to pay more royalties than the law provides for. Depending on the volume of oil it could double the royalties."

#BPC’s existing commercial terms with the Government involve a ‘sliding scale’ of royalty fees, with the rates tied to production (the daily volume of oil, measured in per barrel terms) that is extracted from Bahamian waters.

#The royalty rates range from a low of 12.5 per cent for 75,000 barrels per day to a peak of 25 per cent for 350,000 barrels per day or more, with a production licence granted for 30 years.

#And, using a market price of $80 per barrel of oil, BPC has said that once production costs - equal to around $40 of this sum - are taken out, the remaining $40 would be "split 50/50 between us and the Government".

Cheers Jdam saved me trawling for it.

This is a good thing, it shows all the bluster for what it is. If there is oil the BG will want to turn it to cash

The most polite way I can word this is, the Bahamas are broke, running just shy of 100% GDP debt. If there is oil in the ground they will want it out producing income.
Besides Potter has already stated he would do 50/50 with them if need be.

Thats the spirit

https://ewnews.com/ag-govt-will-renegotiate-royalty-regime-if-bpc-strikes-oil?fbclid=IwAR2rWi4aQEufWnm2kVZPUlpIChDu7OiqhNKAljv5J1dy1eTEHXsdsB1MxuY