Bahamas Petroleum Company PLC Further Update on Court Process in The Bahamas (2058K)
December 31 2020 - 1:00AM
UK Regulatory
TIDMBPC
RNS Number : 2058K
Bahamas Petroleum Company PLC
31 December 2020
31 December 2020
Bahamas Petroleum Company plc
("BPC" or the "Company")
Further Update on Court Process in The Bahamas
Further to BPC's announcements of 29 December 2020 and 30
December 2020, a hearing of the Supreme Court of The Bahamas was
held on 30 December 2020. Oral arguments were heard addressing
various matters (as referred to in BPC's announcements of 29
December 2020 and 30 December 2020), and the Court has now reserved
judgment. The Honourable Justice Petra Hanna-Weekes has not
indicated a date for when any further ruling will be provided.
As previously advised, at a prior hearing on 24 December 2020,
the Honourable Justice Petra Hanna-Weekes, following her
consideration of the relevant documents, refused on the papers the
Applicants' leave to apply for Judicial Review of the decision by
the Government of The Bahamas in February 2020 to grant BPC
Environmental Authorisation to proceed with the drilling of
Perseverance #1. Following the ruling of the Court on 24 December
2020, drilling of the Perseverance #1 well in The Bahamas,
currently underway since 20 December 2020 has continued.
BPC will provide a further update as and when there are any
material developments.
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
END
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDDDBDDCDXDGGG
(END) Dow Jones Newswires
December 31, 2020 02:00 ET (07:00 GMT)
Challenger Energy (LSE:CEG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Challenger Energy (LSE:CEG)
Historical Stock Chart
From Apr 2023 to Apr 2024
