Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
There is a story in today's Nassau Tribune. Not posted online yet. "Oil exploration fight heading for full trial." Should be up in the next few hours.
Really Pacman? And I was always so fond of you! What a shame. Anyway listen, don’t take out your frustration for the drill being a dud on me, friend. Take that up with our lord and savior Simon Potter.
Oh no! I’ve been found out! Haha. You are quite amusing Egg. My friend, whether you like it or not I am sitting right in Nassau, BAHAMAS. If you don’t believe it you should ask ShareScare, or anyone else with actual local experience who they think I am. However, let’s see how far down the rabbit hole of arrogant condescension and cultural insensitivity we can go. I wonder if you could point to one of the posts where I was ‘pretending’ to struggle with the English language. I really don’t know what you are referring to.
Egg, What an insulting opinion you seem to hold of the linguistic and cognitive skills of people of the Bahamas! You know we have doctors and lawyers, scientist etc. as well. We are all not just grass skirt wearing natives.
Not even the interest on that debt could be paid with the pennies BPC wanted to throw at the Bahamas. Don’t kid yourself.
Good luck in Trinidad, because this company is unlikely to ever drill another well in the Bahamas.
@Linton
So you think a BPC will continue with the case? Obviously the government of the Bahamas will have to. And the environmentalist already said today that they would.
@phoenix - The claim was that the government issued it’s licenses incorrectly. Did not ask the company to fulfill the correct criteria I believe. The court of the initial stage said the environmentalists had an arguable case. So it is still up in the air.
Thanks icemax - makes sense.
Phoenix, It is a simple question. What is BPC going to do now? Continue to pay their expensive QC? To what end? But if they leave the case, and their drill is subsequently declared illegal, how are they going to attract a JV partner then? Does no one really think this is relevant?
I take it that means no one has a clue. Ok.
It is a serious question. They will probably appeal the securities decision now. You cannot ask for security for a project that is not happening. How is BPC going to fund months of court proceedings?
The environmentalists have declared they are going to continue until they declare the drill permits illegal. What is BPC going to do?
Exactly Bertie. The condescension has always been palpable
Not so and you know it my friend. This was a terrible deal. 12.5% after BPC had dealt with its considerable expenses. Even if we take Potter’s overblown estimate, it amounts to $250 million per year. That is barely enough to run the Department of Education of the Bahamas. We have a $9 billion debt, that wouldn’t even cover the interest payments. We have a $3 million per year annual budget. This is a drop in the ocean. It will change nothing. No working class person was going to see a penny of this.
Trinidad Petroleum Company?
http://www.tribune242.com/news/2021/jan/18/oil-explorer-told-come-clean-over-unpaid-fees/
Mmm. How’d that work out for Hunny Bunny again??
Potter getting paid either way. Of course he’s smiling. Makes zero difference to him. As long as the shareholders don’t stop believing, hold on to that feeling...
Hey Linton! Drilling of this test well will indeed continue. But if the court deems it to have been conducted illegally, where does BPC go from there? Game over perhaps. The bond will be hotly contested. Such tactics have been the subject of much litigation and debate in the Bahamas in the past, as it has been said that they are attempts by rich corporations to price justice beyond the reach of ordinary citizens. If the government broke the law in giving a company the right to undertake a project that might adversely affect you or I, we should not have to be rich to defend ourselves. Arguable at least.