Bahamas Petroleum Company PLC Update on Court Process in The Bahamas (0648K)

TIDMBPC

RNS Number : 0648K

Bahamas Petroleum Company PLC

30 December 2020

Bahamas Petroleum Company plc

("BPC" or the "Company")

Update on Court Process in The Bahamas

Further to BPC's announcement of 29 December 2020, the hearing of the Supreme Court of The Bahamas that was set for 29 December 2020 has been delayed until 30 December 2020.

In addition to those matters to be addressed at this hearing (as referred to in BPC's announcement of 29 December 2020), the lawyers acting for the Applicants have also sought leave to amend their application to add the Town Planning Committee as a further respondent, and this additional application will also be considered at the rescheduled hearing.

BPC will provide a further update following the hearing now scheduled for 30 December 2020.

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) 207 408 
  Joint Broker                                     4090 
  Jerry Keen / Toby Gibbs 
 Investec Bank Plc - Joint Broker                 Tel: +44 (0) 207 597 
  Chris Sim / Rahul Sharma                         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 drilling an initial exploration well in The Bahamas, Perseverance #1, 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

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