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laallee 11 years, 2 months ago on BPC: Oil royalties '30% higher' than Gulf of Mexico

BPC: Oil royalties '30% higher' than Gulf of Mexico

Great interview, Potter is right in explaining the risk/reward involved in oil exploration. The Bahamas has no oil until BPC or another outfit finds it! If BPC hit the sweet spot the Government will feel confident in negotiating better rates from new explorers, right now no one but BPC are interested. If the rates were that attractive how come the country is not full of oil explorers? Because right now its virgin territory! The government should thank BPC and its investors for spending $50 million on exploration, no one else has spent a dime. Now its just the small matter of spending a billion dollars to get to oil production,,,then the government can get its share of the royalties without a dollar spent. Some people are getting narked over %, % of what? Right now its a % of zero but BPC and its future partners are going to pay 100% of the exploration costs and 100% of the financial risk. BPC have been used as a political football but they have waited patiently and legally for the dust to settle so they can get on with what they are contractually obliged to do, drill a well!Do they deserve the rewards? Of course they do,,,