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I’ve just been the first person to cast a vote in the “Will 2021 be better for the Bahamas “ poll. I voted “yes”!
Uliel and Potter have zillions of shares, many taken in lieu of salary. Their interests are aligned with all other shareholders. We have reached a point many thought could never happen - a drill underway with no major involved and with the Company owning 100% of the asset, plus a range of other assets as insurance should things go wrong at #P1. To do this, a lot of deals have been done which many don’t like but beggars can’t always be choosers. Let’s wait another 45-60 days before judging.
About the same number as the BPC Facebook group.
Someone has made a few quid this week.
Kev, still
The 15th. The 28th is the latest date to satisfy CLN conditions.
IceMax is sailing directly to drill location and not visiting Freeport. All additional equipment will be brought out.
The previous Administration threatened to hold a referendum but it didn’t take place prior to the Minnis led Government taking over. They have parked the idea, as referenda on the Bahamas have unpredictable outcomes.
Tonsan , fully agree. There is no requirement for BPC to respond or comment on an action in which they are not a party. I doubt they will even respond to the invitation to delay drilling, they will simply carry on, IceMax will sail on Thursday and the next RNS will be the CPR.
Hi Jim, it’s probably a flag of convenience. I don’t think it’s Bahamian government or navy.
It’s difficult for the Co to comment as it’s not a party to the action. It’s between the party seeking the review and the Govt. While BPC will be effected by any outcome good or bad, it cannot directly influence the process. If the Govt lose, and the drill is delayed, BPC will launch its own action against the Govt to recover the costs of the delay. However, by then the real damage will have been done as all the preparations will fall apart. The chances of the injunction being granted are imo very small, but cannot be completely ruled out, hence the sp movement.
Excellent riposte
Linton, I agree. However, shareholders needed to be made aware imo. My only concern is that in politics nothing is certain. However the AG will be making it clear that any delay will be very costly for the Gov.
The Company will obviously not agree to delay so Court case should follow. Any delay will be costly but such costs will be borne by Govt, who have provided cast iron assurances in the past. However, this is highly political so can be no guarantees as to whether a delay will occur.
Of more concern than Greenpeace is the newly announced threat of legal action to suspend drilling, unless BPC voluntarily agrees to a delay while the legalities of the EIA are reviewed. Such a delay would be hugely expensive to agree to so it must be assumed court action will follow.
S740 - quite correct. I have recently posted with regards to the staffing and resources dedicated to BPC within IOMA House and while it is good of Tara to confirm the arrangements, the posting of her mobile number was not, I would suggest, in anticipation that it would be published on a forum such as this. I hope shareholders will act in a suitably respectful manner.
Only new in so much as Schrader elected to forego his cash entitlement and take it all in shares. Indication of confidence in P1.
So he’s accepted the shares in lieu of salary.
Schrader has just spent over £283,000.
I used to work in IOMA House where the registered office is located and where the AGM is held each year. I can assure you it is more than a brass plate, BPC has segregated offices and 2 dedicated members of staff.