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BPC extends license

Bahamas Petroleum Company PLC has said that it has agreed to the terms of a license renewal addendum in relation to its four southern licenses in The Bahamas, a move that should help with its attempts to find farm-in partners, and would also be focusing its broader efforts on areas where it has drill-ready prospects. 

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Alliance News
Monday, May 18, 2015
Monday, May 18, 2015
Steve McGrath

ALT TAG HERELONDON 18 May 2015 (Alliance News) – Bahamas Petroleum Company PLC Monday said it has agreed [to] the terms of a licence renewal addendum in relation to its four southern licenses in The Bahamas, a move that should help with its attempts to find farm-in partners, and would also be focusing its broader efforts on areas where it has drill-ready prospects.

Bahamas Petroleum said the current terms of the southern licenses have been extended to the second quarter of 2018, and the drilling start date is extended to April 2017. The southern boundaries of the licences have been formalised up to The Bahamas/Cuba maritime boundary and all work undertaken in individual licences offsets against adjacent licence obligations, it added.

This is an excerpt from Alliance News as it appeared on May 18, 2015. For updates or to read the current version of this post in its entirety, please click here.

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