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Fool.co.uk
Thursday, October 9, 2014 Thursday, October 9, 2014 Roland Head |
[Note: Any reference to stocks, funds, investment and its underlying recommendation does not reflect the opinion of The Bahamas Investor or any of its contributors.]
Shares in Bahamas Petroleum Company surged over 25% when London markets opened this morning, touching a high of 4.7p, before settling back slightly to a 10% gain.
The trigger for these gains was news that a new Petroleum Act has now been drafted in The Bahamas, and has been placed before parliament for final approval. This long-awaited new act will define the legal and tax framework for oil explorers operating in The Bahamas.
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