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Then why do you think a major made an 'exclusivity' deal with BPC and made payments 2 yrs back?

Joint venture with a major is still possible as now we have confirmation of Stena Icemax on its way to the rig site?

BPC has done all the hard work now for the major. It is up to major now to do a deal before the spud for less billions or pay lot of billions after the spud. Wonder if this is what is brewing behind the scenes for BPC to be staying silent. They don't need to attend any conferences if they bagged a deal with a major already? Just a thought....

"more like 4p"

If that is the case then why do you think SP was at 3.66p after the last RNS about P1 update?
We now have confirmation of Stena Icemax reaching Bahamas in 15-20 days and more news to follow like CPR and another update about P1. Brokers will confirm their price targets and that will not be 4p. See xxxyyyzzz's post on Investec price targets.

in the beginning of this year when we it was still in early stages.

Icemax is on its way to the drill site. Until yday, we had bedwetters and some 'idiots' thinking that the tribune posts will jeopardise the Icemax sailing and the drill plans but Icemax set off to Bahamas for the drill. There is no stopping now. Just hold tight.

It was at 5.8p in the beginning of this year when there were many unknowns about the drilling. Now we have everything in place with all the bases covered.

As the news spreads, we should see the rise. RNS about CPR could have helped and it could land anytime.

I for one decided to stay for the results as I feel you would need to take the chances to win it. Build it and they will come.

regarding the current position of the Icemax, one positive to take is that it is not moored at the backend of the queue! It is positioned for sailing and nothing blocking it.

30% rise tomorrow once Icemax starts moving!

First of all please stop blaming SC. He did not send it to the editor. I did.
Also I mentioned here that I will send that post to the editor and no one bothered to atleast comment on whether we need to add some more or modify what SC mentioned.
Honestly, I was waiting to see if anyone would add any more valuable info to be sent to the editor but as always some of the herd here only want to call names and attack others opinion but do not want to come up with anything valuable to add. I was not trying to push BPC for a RNS using that article. I just said that they may provide us an update. BPC need not send out RNS if nothing changed materially in terms of drilling plans so no news is good news.

Also many of you lot thought that letter will not be published. Infact I was surprised that Neil published it as he did not reply back to me to confirm that he will publish it.

Another thing is that editor had actually forwarded the letter to QC first as you can see the article published the response from QC too. Just wondering why Neil would do that.

Anyways from the QC responses, it appears like he is just doing fist pump and chest beating and nothing more. The article even if not published will not stop QC doing what he wants to do. It seems like it is too late to do anything by QC.

Anyways, my last request is to stop attacking SC and me and contribute something more useful.

not sure why some of you think that the article may have negative effect? Do you think QC will retreat if the article was not published?

Bahamians who will read that article could agree that the debate about environment impact should be done after oil is found.

Atleast BPC directors may now act to send out an update to us if they see the article. James Smith would certainly read that article and would share it with Potter compelling him to put out an update to us.

I shared the StarChild's post to the editor - Neil after StarChild kindly agreed to post it.
I did mention in the weekend that I will post it to Neil and I did not see anyone opposing it at that time.

RNS tomorrow hopefully.

Zag, patience mate. Everything will fall into place starting with Icemax departure. Just keep tracking Icemax.

announcement is the only thing will rocket this SP otherwise this will be a slow burner.
Considering rest of the sectors that are badly hit like Travel, Retail , Banks and Real Estate ITV is much better placed and I hope they announce dividends sooner than rest of the market as that will allow funds to pile in and SP can easily go to £2

A move to FTSE 100 can also help but anyone thinks it is possible in the next shuffle? when is the next shuffle?

This link has details about the legal challenge -
https://thenassauguardian.com/coalition-threatens-legal-action-to-stop-bpc-drilling/

"Our Islands, Our Future intends to apply for an injunction if BPC’s drill ship leaves its current port in the Canary Islands to sail to its well location in The Bahamas."

“BPC has now officially been warned that its environmental approvals are being challenged and the company should not insist on launching the IceMAX drillship or taking any other steps towards drilling in defiance of the judicial review process.”

So they want to apply for an injunction if drill ship leaves? Court will need to hear the story from BPC/BG before granting injunction. We need to see if BPC will still ask Icemax to depart on Thursday. BPC could throw CPR RNS in between to keep the momentum going with share price. I really hate these bloody activists throwing spanner in the works at this time.

Did you share with the editor of any Bahamas media about your open letter to media?

I have been in contact with one of the media editor and asked him if he can publish the shareholder point of view.
I would like to share your message if you haven't done already?

Also another thing is that even they too think that it is too late to request for a court injuction.

Monday or Tuesday we should see an update from BPC!

With a fantastic RNS on Tuesday about everything in place for the drill, expected big jump to 4p but the rise in the morning slowly faded away and ended up down by 9%! I thought it was profit taking but wondered why at 3.5p but now we can see the reason why! Many were way ahead looking at the news from Bahamas and triggered sells due to a legal challenge by the activists!

But now we can see that the legal challenge is not having much weight. Environmental consultants B&V are going to be on board with Icemax crew! BPC has got their insurance policy to cover all bases against the drill and this is confirmed in RNS.

BPC director blasted the activists asking why the activists are ok with the ships already sailing on Bahamas water carrying oil but not ok with BPC to explore.
http://www.tribune242.com/news/2020/nov/20/save-bays-oil-director-smith-seems-shockingly-unin/?news

Also all the neighbouring countries are extracting oil so why are these activists targeting Bahamas? It is very clear that these activists are from foreign nations and not local Bahamas. Clearly local Bahamas need jobs and prosperity. Bahamas govt is in support of BPC. Read this article which proves that claims by the activists are not correct -

https://thenassauguardian.com/govt-agency-insists-spot-checks-inspections-during-bpc-drilling/

We have people here skeptic about whether there is any oil or not and we have activists confirming that oil is there so they want to stop BPC from drilling!

Icemax is going to depart Thursday next week and once it departs we are going to see higher highs. GLA

Without any doubt RNS confirmation on departure would crash the HL and other broker apps! 6p minimum at the close on that news considering how much attention BPC has attracted since last few days.

I think many are still waiting on sidelines for a confirmed RNS about Icemax departure. Now if there is no RNS on Monday or on Tuesday then we can safely assume that Icemax is going to Bahamas? The reason being departure date is Thursday and there is no way it can be left to that last minute for a court order? So Monday SP could be a 3p+ close and Tuesday could be the big rise to 4p+. AIMHO.

as we get closer to Icemax sail date, which is Thursday 26th.

“At the same time, our activities, in the event of success, have the capacity to be economically transformative for the nation of The Bahamas and could ultimately contribute billions of dollars in royalty revenues to the national treasury, at a time when the dual impact of recent hurricanes and the COVID-19 pandemic have been especially hard-felt by most Bahamians.”

Many other nations in the region such as the United States, Mexico, Trinidad and Tobago, Suriname and Guyana have over the past decade safely and responsibly drilled offshore wells, developed or continue to develop offshore hydrocarbon resources and reaped the economic benefits of an established or a whole new industry. Moreover, these other nations have been able to do so at the same time as seeing growth and development of existing sectors such as tourism.”

BPC has continued to tout its robust insurance take-up to guard against any incidences during its operations.

“As previously announced, BPC has placed an extensive suite of insurance policies to cover drilling operations for Perseverance #1, including an appropriate well control policy,” the company’s statement noted.

“This is as required under the terms of BPC’s licenses in The Bahamas and is in accordance with global best practice standards. The insurance placement, arranged by leading global insurance agent Aon UK Ltd., followed an extensive independent third-party review of BPC’s well plan, design and risk mitigation policies.

“The insurance placement is with a panel of insurers comprised of Lloyd’s of London and international company markets (with all meeting local Bahamian insurance regulations), all of which have a financial rating of “A” or higher from Standard & Poor’s. The policy utilizes internationally recognized wordings and complies with BPC’s contractual obligations, including cover levels considerably in excess of those stipulated as being required by the government of The Bahamas.”

The statement added that it has formally notified the Department of Environmental Protection and Planning (DEPP) of the precise well location and is working with the government’s appointed third-party adviser, international environmental consultants Black & Veatch.

“BPC is fully committed to ensuring safe and responsible operations and has assembled an experienced team of drilling personnel, supported by many of the world’s largest and most respected oil services contractors, with a collective track record of drilling many thousands of wells safely all around the globe,” Potter said.

“We are especially pleased that one of the most modern, technically capable drilling vessels in the world will soon leave port ahead of drilling. In support of this, plans to mobilize both equipment and personnel safely to site have been finalized, funding is in place and we have completed a huge body of work to ensure that best practices have been applied as our health and environmental safety plans and protocols have been developed, contracted and approved.”

http://www.tribune242.com/news/2020/oct/29/oil-opponents-stoke-fears-122k-jobs/?fbclid=IwAR2ZyfoH2TdDcGOU_dXHuOgoyTEt2rgA4XFmKsnnl5TCJCnDKGf2e-MwQMQ

They say -
1) ..critcised the EIA for a "lack of cumulative impact analysis", or what it described as the 'one bite-free approach'. "If an EIA only analyses a single project in isolation, it fails to consider or disclose the magnitude of cumulative impacts, which can be severe,"

This is not a valid argument as the impact analyses must be done on the well being drilled and BPC is not going to pump oil straightaway so this argument will not win any points from the court?

2) "In this case the EIA is at times referring to a single exploratory well, and at times a series of three exploratory wells, but it completely fails to show how it relates to a full drilling programme that includes production and pumping of oil at multiple locations, as well as storage and transfer of crude oil from producing wells."

But there are no multiple wells here? BPC is not going to pump oil straightaway? This is another baseless argument that is not true and court will be made aware of this.

3) the oil spill recovery plan was inadequate, asserting: "This is not acceptable considering the sensitivity and uniqueness of the potentially-impacted habitats and natural resources. There are no plans for oil recovery using oil skimming equipment, nor to utilise oil booming to protect sensitive areas in the event of a spill."

We have world's renowned drill ship Stena Icemax that will take care of the drill without spill? They have done numerous drills so far and have a good record so why is this not an assurance to the oil opponents?

Most importantly, the above article is from October 29th and since then BPC made lot of developments and confirmed that Icemax is ready to sail in few weeks time so clearly Potter has a plan and he has dealt these oil opponents since last 10years and there is no way he is backing off. We will be drilling.

LGO-fan, did you not see how it bounced from today's low to 2.9p? Once, we have confirmation of Icemax sailing then all will jump in full on and 4p easily.

pure scaremongering. There is no way they can get a stay order to stop BPC from drilling. Court cannot listen to just activists arguments and issue stay order without getting views from BPC and Bahamas Govt?

Clearly Bahamas Govt is not responding to activists so govt is in support of BPC. Simon will ask Govt to deal with those activists and in the mean time he will ask Stena to get Icemax sooner than earlier planned date.