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Bahamas Petroleum: Production and exploration in the Caribbean

Snapshot

  • Perseverance confirms petroleum system
  • Reservoirs found to be non-commercial
  • Trinidad production growth slated
Bahamas Petroleum Company PLC -

Quick facts: Bahamas Petroleum Company PLC

Price: 0.535 GBX

LSE:BPC
Market: LSE
Market Cap: £25.89 m
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About the company

Bahamas Petroleum Company PLC (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.

How it is doing

On 8 Feb 2021 Proactive reported: 

Perseverance-1 confirmed a petroleum system offshore Bahamas but did not encounter hydrocarbons in commercial volumes.

The company, in a statement, highlighted that the well has successfully validated the structural model and the petroleum system.

It fulfilled the core technical objectives of the well, the company added … more

12 Jan 2021

Bahamas Petroleum exercised a put option to raise a further £3.75mln, as a result of shares being issued, to support the ongoing Perseverance well programme.

A total of 187.5mln new shares were issued at a price of 2p each. Bahamas Petroleum highlighted that it represents adequate funding for the well plus an extensive 2021 work programme across the company’s suite of production, appraisal and development assets … more

7 Jan 2021

Bahamas Petroleum told investors it is on-track to add further wells to its operations in Trinidad and also Suriname.

At the same time, it confirmed on-target production with 500 barrels of oil per day being produced at the end of 2020. Now, with an extensive work programme on the slate the company is targeting production growth up to 2,500 bopd by the end of 2021 ... more

Bahamas Petroleum’s bold transformation impresses investors

12 June

Bahamas Petroleum Plc (LON:BPC) continues to surprise and impress with its bold growth strategy which has sees the company transformed over just a few days.

A deal announced on Thursday marks the biggest change by adding production, appraisal/development, and exploration assets across Trinidad and Suriname.

Earlier in the week, BPC expanded its exploration footprint as Uruguay awarded the OFF-1 licence covering a high-potential but early-stage area off the Atlantic coast.

These are the latest but not only significant steps that BPC has taken towards ‘company making’ growth … more

What the boss says

17 Aug 2020

Bahamas Petroleum Company PLC's (LON:BPC) Simon Potter and Eytan Uliel caught up with Proactive London's Andrew Scott following its recent merger with Columbus Energy. Last week the company issued a new corporate presentation to communicate its new strategy. Potter says they're making rapid progress on familiarising themselves with the potential of its recently expanded portfolio of assets with the focus now being on delivering shareholder value through a combination of high-impact exploration success and growing production cash flows.

Meet the management

29 Jan 2021

Bahamas Petroleum's (LON:BPC) Nathan Rayner (COO) presented at the Proactive One2One virtual forum.

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