Exercise of Options (6767W)

TIDMBPC

RNS Number : 6767W

Bahamas Petroleum Company PLC

23 November 2010

Bahamas Petroleum Company plc

("BPC" or the "Company")

Exercise of options

BPC, the oil and gas exploration company with licences in The Bahamas, today announces the exercise by Ambrian Partners Limited ("Ambrian") of 2,896,398 options into new ordinary shares of 0.002p each ("Ordinary Shares") in BPC (the "New Ordinary Shares") at an exercise price of 4.55p per share.

Application has been made for the New Ordinary Shares to be admitted to trading on AIM, which is anticipated to occur on 29 November 2010.

Following this transaction, Ambrian will no longer retain option over any Ordinary Shares.

For the purposes of the Financial Services Authority's Disclosure and Transparency Rules, the total number of Ordinary Shares in issue following admission of the New Ordinary Shares to trading on AIM will be 987,379,096, each carrying the right to one vote.

The above figure of 987,379,096 may be used by shareholders 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 FSA's Disclosure and Transparency Rules.

Enquiries:

 
 BPC Limited                                 Tel: +44 (0) 1624 
 Alan Burns, Chairman and CEO                 64 1199 
 Dr Paul Crevello, Chief Operating Officer 
 Strand Hanson Limited                       Tel: +44 (0) 20 7409 
  Rory Murphy / Liam Buswell                  3494 
 Novus Capital Markets Ltd                   Tel: +44 (0) 20 7107 
 Charles Goodfellow / Paul Dudley             1872 
 FirstEnergy Capital LLP                     Tel: +44 (0) 20 7448 
 Hugh Sanderson / Derek Smith                 0200 
 Financial Dynamics                          Tel: +44 (0) 20 7831 
  Billy Clegg / Ed Westropp                   3113

This information is provided by RNS

The company news service from the London Stock Exchange

END

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