Change of Adviser (1544A)

TIDMBPC

RNS Number : 1544A

Bahamas Petroleum Company PLC

27 January 2011

Bahamas Petroleum Company PLC

("Bahamas Petroleum" or the "Company")

Appointment of Joint Broker

Bahamas Petroleum, the oil and gas exploration company with licences in The Bahamas, is pleased to announce that is has appointed Canaccord Genuity as joint broker to the Company, with immediate effect.

Paul Crevello, Chief Executive of Bahamas Petroleum, said:

"We are delighted to welcome Canaccord Genuity to our advisory team, and we believe they will help us grow the business into its the next stage of development.

"The Board is also pleased with the performance of its existing brokers, Novus Capital Markets and First Energy Capital, and will be retaining both advisers to work in co-operation with Canaccord Genuity going forward."

American Depository Receipt Scheme

In addition, the Company announces that it has begun the process of listing its existing shares on the OTCQX exchange system, as Level 1 American Depository Receipts ("ADRs"). The completion of this arrangement will allow American retail investors access to the Company's existing shares, thereby expanding liquidity in the trading of the Company's shares. It is anticipated that the ADR listing process will be completed in the coming weeks, and an appointment announcement will be made by the Company in due course.

- Ends -

For further information contact:

 
 Bahamas Petroleum Company PLC                   Tel: +44 (0) 1624 
  Alan Burns, Chairman                            64 1199 
 Dr Paul Crevello, Chief Executive Officer        Tel: +1 720 771 7583 
 Strand Hanson Limited - Nomad                   Tel: +44 (0) 20 7409 
 Rory Murphy / Liam Buswell                       3494 
 Novus Capital Markets Ltd - Joint broker        Tel: +44 (0) 20 7107 
  Charles Goodfellow                              1881 
 FirstEnergy Capital LLP - Joint broker          Tel: +44 (0) 20 7448 
  Hugh Sanderson / Derek Smith                    0200 
 Canaccord Genuity - Joint broker                Tel: +44 (0) 20 7050 
  Charles Berkeley / Henry Fitzgerald-O'Connor    6500 
 Financial Dynamics                              Tel: +44 (0) 20 7831 
  Billy Clegg / Ed Westropp / Alex Beagley        3113

This information is provided by RNS

The company news service from the London Stock Exchange

END

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