Bahamas Petroleum Company PLC Response to Media Speculation (0711I)
December 09 2020 - 5:29AM
UK Regulatory
TIDMBPC
RNS Number : 0711I
Bahamas Petroleum Company PLC
09 December 2020
9 December 2020
Bahamas Petroleum Company plc
("BPC" or the "Company")
Response to Media Speculation
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.
Regulatory Statements
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
For further information, please contact:
Bahamas Petroleum Company plc Tel: +44 (0) 1624
Simon Potter, Chief Executive Officer 647 882
Strand Hanson Limited - Nomad Tel: +44 (0) 20 7409
Rory Murphy / James Spinney / Jack Botros 3494
Shore Capital Stockbrokers Limited - Tel: +44 (0) 207
Joint Broker 408 4090
Jerry Keen / Toby Gibbs
Investec Bank Plc - Joint Broker Tel: +44 (0) 207
Chris Sim / Rahul Sharma 597 5970
CAMARCO Tel: +44 (0) 020 3757
Billy Clegg / James Crothers / Hugo Liddy 4980
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 P(50) 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.
BPC is listed on the AIM market of the London Stock Exchange. www.bpcplc.com
END
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