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Geordie bang on do my estimate on results

IF it's a duster could see 70-80% drop in share price to 0.5p roughly before recovering over next few months to maybe 25 to 50% down then long slog to build the share price back up that would require existing output increases.

However if it's a success expect 5-10 bagger could even be much higher ultimately, so anywhere from 10p to 20p

The next few weeks well know and what an exciting time ahead

They own the lot! so MCAP on success can anyone speculate? even $5 a barrel with farm out = a lot $$$$

just got chunk money from sale of some shares in JLP he maybe buying here himself!

$5 to $20 billion in tax revenue to the bahamas!

That could totally transform the lives of the poorer residents yet crazy green people probably backed by the tax exile super rich trying to block it

Perseverance #1 Well

The Company is on-track to drill Perseverance #1, the Company's initial exploration well in The Bahamas, and deliver the well results during Q2 2020.

Perseverance #1, which is 100 per cent. owned and operated by BPC, is to be located in the northern segment of the B megastructure. The target P50 prospective recoverable oil resource at this location is 0.767 billion barrels, with an upside of 1.444 billion barrels (assuming the same recovery factor), and downside volumes approximating to the minimum economic field size at currently prevailing oil prices. This location has been chosen, based upon high resolution 3D seismic data, as the best balance of lowest technical risk, geological conditions and recoverable volumes, with a significantly better developed top seal and reservoir characteristics at this crestal point on the northern segment of the very large B structure. It is anticipated that any discovery at this location has the potential to extend into a larger portion of the overall B structure extending to the south-east. In aggregate, the entire B structure extends for between 70 and 80 kilometres along strike and accommodates over 400 square kilometres of mapped closure with the entire structure having a combined most likely potential resource of in excess of 2.0 billion barrels.

Perseverance #1 will be located in water approximately 518 metres deep, with a target depth of 4,822 metres, but with a capability to be able to reach 5,600 metres, thereby affording the ability to evaluate multiple reservoir horizons throughout the entire stratigraphic column below the Tertiary cover. The ultimate decision on well depth will depend on real-time drilling results and geological information.

Operations

The Company has established a temporary field office (in Houston, Texas USA), supplementing the Company's existing permanent offices in Nassau (The Bahamas) and the Isle of Man. The field office has been staffed to manage and support drilling and well operations, and includes personnel with a breadth of global expertise and experience in well design and engineering, offshore drilling (including the use of Managed Pressure Drilling systems), logistics and planning. Major well services contractor Halliburton has integrated staff into the Company's drilling execution team.

very interesting reading clearly the Bahamian Government has made preparations if BPC hits the jackpot!

THAT in itself gives an indication of the economic $$$$$$$ scale of 2 Billion barrels if BPC succeed.

VERY exciting times these next few weeks.

seems funny to think our BPC destiny is in the hands of this bad ass drill ship
https://www.vesselfinder.com/vessels/STENA-ICEMAX-IMO-9517575-MMSI-235092459#:~:text=The%20current%20position%20of%20STENA%20ICEMAX%20is%20at,of%20United%20Kingdom.%20Track%20on%20Map%20Add%20Photo

how do you know the crew swapped?

one thing is for sure since BEM is 72% owned by swedes theyd be kind of stupid not to say yes

This outcome will once again determine how dumb politicans can be!

BPC late last year stated as much as 2 billion barrels i thought it was upto 1 billion

An exploratory well is an initial step to check the size and volume of oil deposits in a basin or production area. BPC said that Perseverance No. 1 is a "potentially basin-opening well, with the kind of scale and associated value uplift exposure rarely offered outside of oil majors." The company said earlier this year that preliminary seismic testing showed the area has potential oil reserves of more than 2 billion barrels.

As the Bahamas struggles to recover from the damage caused by Hurricane Dorian, the monster storm that struck parts of the archipelago with punishing 185 mph sustained winds and 25-feet storm surges in September last year, oil production has emerged as a way to boost economic activity and create jobs.

The storm caused an estimated $3.4 billion in damage, according to a November 2019 report by the Inter-American Development Bank. The economy's rising debt and persistently high unemployment were exacerbated by Dorian, the IDB said. The COVID-19 crisis further depressed economic activity in the islands as the abrupt halt in tourism caused unemployment to jump and GDP to fall to record low levels.

The argument for economic diversification by investing in the oil and gas industry is gaining strength, especially after ExxonMobil discovered large offshore reserves near Guyana in 2015. Caribbean countries such as Jamaica, Barbados and Grenada have increased efforts to test their basins in recent years. Cuba and Trinidad and Tobago are already producing oil from offshore fields, and the Dominican Republic last year organized its first licensing round for oil exploration contracts.

Simon Potter, BPC's CEO, said oil and gas exploration can be "economically transformative" for the Bahamas.

"It 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 has been especially hard-felt by most Bahamians," he said in a statement.

Fantastic discussion and research guys and girls well done .............. be interesting Baylan response

http://www.tribune242.com/news/2020/dec/01/sovereign-wealth-backstop-oil-exploration-fall-out/

8 minutes into recording clear says its a 10 bagger if successful!

https://www.proactiveinvestors.co.uk/companies/news/912175/bahamas-petroleum-success-at-perseverance-1--would-be-a-game-changer--912175.html

3 min in debate give all the clear facts

Thats as good as anyone could expect prior to drill

https://www.proactiveinvestors.co.uk/companies/news/912175/bahamas-petroleum-success-at-perseverance-1--would-be-a-game-changer--912175.html

Eric .......... one crucial point to note IF sweden was going to refuse wouldnt they not have already done so.

I believe asking UNESCO is essentially saying they are happy but just to be sure what are your thoughts? Theyre basically covering their backs

https://www.proactiveinvestors.co.uk/companies/news/62350/beowulf-mining-to-contest-kallak-mine-decision-72872.html

Pocko the difference BEM has the enviromental permits I believe whereas Boliden do not! correct me if im wrong?

3 THE LAVER PROJECT
The Laver project is an advanced exploration stage bulk open pit copper-gold-silvermolybdenum mining project focused on developing the Laver deposit in Norrbotten county,
northern Sweden. The project has contained estimated Mineral Resources at the Laver
deposit since 2012, with the latest Mineral Resource estimate completed in 2013.
Exploration, technical, and economic evaluations at the Laver deposit have advanced to
scoping study level. No Mineral Reserves are currently estimated within the project.
Multiple key permits are outstanding in the Laver project that are required prior to
development of the deposit. These include the mining concession permit, as well as multiple
environmental permits. Work is currently ongoing internally within Boliden focused on
permitting, improving, and advancing the Laver project.

Also Laver has more impact on existing forrestry industry and other impacts compared to Kallak:

3.4 Ownership
The Laver project is 100% owned and operated by Boliden. Additionally, Boliden owns
100% of surface rights covering the Laver deposit Mineral Resource. However, substantial
areas of land needed for future development of the Laver deposit Mineral Resource
(examples include future tailings facility, processing plant, etc.) are not currently owned by
Boliden and may be subject to future acquisition.
Surface ownership within the greater area of the Laver project is distributed between a
variety of private and public entities, and dominated by large land holdings by commercial
forestry companies. The main land use activities in the project area are commercial forestry,
reindeer husbandry, and recreation. Agricultural activity is present only locally within the
project area.
All properties within the Laver project are subject a standard legally prescribed royalty of
0.2% of the annual value of metal recovered after mineral processing. Calculation and other
details of this royalty is governed by the Swedish Mineral Law (Minerallag (1991:45)).
According to this law the royalty payment is to be distributed at a rate of ¾ to the surface
owner and ¼ to the Swedish state. No additional royalties currently apply to the Laver
project.

Let's also not forget the tax revenues will be such they can use those to support the sustainability of reindeer herders and jobs security and creation for an aging local population with young people leaving the region is just as damaging to a large sector of society.

As long as it is all done with no pollution as low carbon emissions Sweden needs green sustainable resources the same as the rest of the world
More importantly it's those tax revenues the pay the government wage bill

Yes Kurt put across a very thorough exhaustive argument for this to be granted.

I think by the Swedish government getting no objections from UNESCO they are clear to approve and have a clear conscience to counter any protestors