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Bahamas Petroleum ‘pleased’ as it is set as a primary respondent to legal challenge

“As a respondent to the application BPC will have full standing on the matter in Court, and in a cost sense, the applicants can be held financially accountable if their action turns out to have been without merit"

Bahamas Petroleum Company PLC - Bahamas Petroleum ‘pleased’ as its set as a primary respondent to legal challenge

Bahamas Petroleum Company PLC (LON:BPC) said it has been allowed to be added as a primary respondent in the pending legal challenge by environmentalists seeking to impede oil and gas operations offshore Bahamas.

The company noted that the Honourable Justice Petra Hanna-Adderley had exercised discretion to add BPC as a respondent to the application which is seeking a judicial review of various decisions taken by the Government in relation to Bahamas Petroleum's licences and the drilling of the Perseverance #1 well.

As a result, Bahamas Petroleum will be entitled to request that the applicants provide security for costs, for which purpose a hearing has been scheduled for February 17, 2021.

READ: Bahamas Petroleum raised £3.75mln

Additionally, Hanna-Adderley also set guidance in relation to the judicial review application, including the dates on which the Court will hear the judicial review application, which will be March 29 and 30, 2021.

Bahamas Petroleum began drilling the Perseverance-1 exploration well on December 20, 2020, and it said on Monday that the well remains on track to take 45-60 days to complete.

"Despite numerous opportunities over many years to input constructively, environmental groups seem determined simply to derail BPC's project in The Bahamas. Attempts to secure orders from the Court to this effect have not been successful, and the drilling of Perseverance-1 continues," said Bahamas Petroleum chief executive Simon Potter in a statement.

“Likewise, these groups have argued that BPC should be excluded as a party to the judicial review action they have brought, despite virtually all communications and documents issued by these groups referring directly and extensively to BPC.

“We are pleased that the Court has recognised the inconsistency of this position, and ruled in BPC's favour. As a respondent to the application BPC will have full standing on the matter in Court, and in a cost sense, the applicants can be held financially accountable if their action turns out to have been without merit. BPC thus welcomes the ruling," Potter added.

In a separate statement, the company noted that departure of Leo Koot as a director of the company. He has resigned for personal reasons.

Koot joined the company alongside the company’s acquisition of Trinidad and Tobago focussed Columbus Energy.

"Leo has made a valued contribution to the board of BPC since he joined on completion of the merger with Columbus, and we are sad that his personal circumstances require his resignation at this exciting time for our company," said chairman Bill Schrader.

Quick facts: Bahamas Petroleum Company PLC

Price: 0.525 GBX

LSE:BPC
Market: LSE
Market Cap: £26.13 m
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