Bahamas Petroleum Company plc, the oil and gas exploration company with significant prospective resources in licences in The Commonwealth of The Bahamas, notes the rise in its share price over recent days.
The Company can confirm the market is already in possession of pertinent information.
As previously announced, the Company is working exclusively with a major international oil company (the “Counterparty”) to conclude a detailed technical evaluation of the Company’s licences in The Bahamas, whilst also seeking to develop a commercial framework for a potential transaction. The Company confirms non-refundable cash payments have been received during this period consistent with the agreement with the Counterparty.
The Company will update the market of any material developments as and when appropriate.
Notes to editors:
Bahamas Petroleum Company is an oil and gas exploration company with 100% owned offshore licences exclusively focused on The Commonwealth of The Bahamas. The Company has significant prospective resources, which have been de-risked through both extensive 2D and 3D seismic. The Company is intent on delivering safe and environmentally responsible exploration.
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