BPC, the Caribbean and Atlantic margin focused oil and gas company, with exploration, production, appraisal and development assets across the region.
Notes media speculation in The Bahamas to the effect that a number of environmental activists have filed an application in the Supreme Court of The Bahamas for leave to bring judicial review proceedings against the Government of The Bahamas, in relation to the Government’s decision to approve the drilling of the Perseverance #1 well.
Apart from this media speculation, BPC presently has no further knowledge in relation to this matter: BPC has not been served, and is not aware that the Government of The Bahamas has been served. BPC will continue to monitor the situation closely and will make a further announcement as and when it becomes aware of any material developments.
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
Notes to editors
BPC is a Caribbean and Atlantic margin focused oil and gas company, with a range of exploration, appraisal, development and production assets and licences, located offshore in the waters of The Bahamas and Uruguay, and onshore in Trinidad and Tobago, and Suriname. BPC is currently on-track for drilling an initial exploration well in The Bahamas, Perseverance #1, in late 2020 / early 2021, with the well targeting recoverable P50 prospective oil resources of 0.77 billion barrels, with an upside of 1.44 billion barrels. In Trinidad and Tobago, BPC has five producing fields, two appraisal/development projects and a prospective exploration portfolio in the South West Peninsula. BPC’s exploration licence in Uruguay is highly prospective, with a potential resource of 1 billion barrels of oil equivalent. In Suriname, BPC has an onshore appraisal/development project.
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