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BPC stocks surge on back of Petroleum Act

Shares in Bahamas Petroleum Company (LSE: BPC) surged over 25 per cent when London markets opened this morning, touching a high of 4.7p, before settling back slightly to a 10 per cent gain. 

Source:
Date:
Updated:
Author:
Fool.co.uk
Thursday, October 9, 2014
Thursday, October 9, 2014
Roland Head

BPC

[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.

This is an excerpt from Fool.co.uk as it appeared on October 9, 2014. For updates or to read the current version of this post in its entirety, please click here.

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