TIDMBPC 
 
RNS Number : 6346T 
Bahamas Petroleum Company PLC 
30 September 2010 
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, OR INTO, THE UNITED STATES, 
AUSTRALIA, CANADA OR JAPAN. 
30 September 2010 
 
                          Bahamas Petroleum Company plc 
                            ("BPC" or the "Company") 
                  Placing conditionally raises GBP5.1 million 
Bahamas Petroleum Company plc, the oil and gas exploration company with licences 
in The Bahamas, announces that FirstEnergy Capital LLP and Novus Capital Markets 
Ltd, on behalf of the Company, have conditionally placed 120,000,000 new 
ordinary shares (the "Placing Shares") in the capital of the Company (the 
"Placing"). The Placing Shares are to be issued at a placing price of 4.25 pence 
per share to institutional shareholders, raising GBP5.1 million (gross). 
 Highlights 
·    Placing of 120,000,000 Placing Shares at a price of 4.25 pence per new 
ordinary share to raise GBP5.1 million (gross). 
 
·    Net funds raised will be used for new seismic acquisition, expected to 
commence in Q4 2010 or early 2011, and general corporate purposes. 
 
·    The Placing Shares are expected to be admitted to trading on AIM on 6 
October 2010. 
 
The Placing Shares will rank pari passu with all existing ordinary shares in the 
capital of the Company, and application has been made for the Placing Shares to 
be admitted to trading on AIM ("Admission").  Admission is expected on 6 October 
2010, following which the enlarged issued share capital of the Company will 
total 979,482,698 ordinary shares. 
 
Following Admission, the above figure of 979,482,698 ordinary shares may be used 
by shareholders in the Company as the denominator for the calculations by which 
they will determine if they are required to notify their interest in, or a 
change to their interest in, BPC under the Financial Service Authority's 
Disclosure and Transparency Rules. The Company does not hold any shares in 
treasury. 
 
Alan Burns, Chairman and CEO of BPC, commented: 
 
"We are very pleased to announce the Placing and the continued support from 
institutional investors.  The proceeds from the Placing will principally be used 
to fund upcoming seismic activity focused around already identified leads, with 
the intention of progressing those to defined drillable prospects." 
 
 
For further information contact: 
 
+----------------------------------------+--------------------+ 
| Bahamas Petroleum Company plc          |                    | 
| Alan Burns, Chairman and CEO           | Tel: +44 (0) 1624  | 
| Dr Paul Crevello, Chief Operating      | 641199             | 
| Officer                                | Tel: +1 720 771    | 
|                                        | 7583               | 
+----------------------------------------+--------------------+ 
| FirstEnergy Capital LLP                |                    | 
| Hugh Sanderson / Derek Smith           | Tel: +44 (0) 20    | 
|                                        | 7448 0200          | 
+----------------------------------------+--------------------+ 
| Novus Capital Markets Ltd              |                    | 
| Charles Goodfellow / Paul Dudley       | Tel: +44 (0) 20    | 
|                                        | 7107 1872          | 
+----------------------------------------+--------------------+ 
| Strand Hanson Limited                  |                    | 
| Rory Murphy / Liam Buswell             | Tel: +44 (0) 20    | 
|                                        | 7409 3494          | 
+----------------------------------------+--------------------+ 
| Financial Dynamics                     |                    | 
| Billy Clegg / Ed Westropp              | Tel: +44 (0) 20    | 
|                                        | 7831 3113          | 
+----------------------------------------+--------------------+ 
 
 
The material set forth herein is for informational purposes only and does not 
constitute an offer of securities for sale in the United States or any other 
jurisdiction. The securities referred to herein have not been and will not be 
registered under the United States Securities Act of 1933, as amended (the 
"Securities Act"), or the laws of any state, and may not be offered or sold 
within the United States except pursuant to an exemption from, or in a 
transaction not subject to, the registration requirements of the Securities Act 
and applicable state laws. No public offering of securities will be made in the 
United States. 
 
Past performance cannot be relied on as a guide to future performance. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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