HOUSTON, Sept. 10/12 (OGJ) – Bahamas Petroleum Co. PLC said it has positively reacted to a decision by the Bahamas government to hold a national referendum on the company’s exploratory drilling plans.

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This is an excerpt from Oil & Gas Journal as it appeared on September 11, 2012. For updates or to read the current version of this post in its entirety, please click here.

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Smart investors are diversifying their assets to offset the damaging effects of the worldwide financial crisis, according to chief executive officer of The Bahamas branch of Credit Agricole Suisse, Antoine Candiotti.

Candiotti, who has served as CEO of Credit Agricole Suisse (Bahamas) Ltd since 2010, says investors are now more risk averse, leading to greater investment in assets such as real estate.

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A 20-member strong private sector group is travelling to Haiti this week to foster trade ties with the nation. Watch a ZNS report here.
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Sept. 10, 2012 (Darshini Shah) – Shares in Bahamas Petroleum (BPC) slipped 6% despite confirmation from the government of The Bahamas that the company’s licences were in full compliance with all legal formalities.

The company has recently completed a Front End Engineering Design (FEED) study, which provides a detailed well plan. The company confirmed that the drilling commitment for 2013 will be dependent upon on the outcome of a national referendum, which the government intends to hold, on oil exploration in Bahamian waters.

Analysts at FoxDavies called the news a “big positive”. They added: “This is high stakes for Bahamas Petroleum and the Bahamas.”

This is an excerpt from Interactive Investor as it appeared on September 10, 2012. For updates or to read the current version of this post in its entirety, please click here.

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LONDON (SHARECAST) – Bahamas Petroleum, the oil and gas exploration company with offshore licence permits in the Bahamas, has been given written confirmation by the regional government that it is in full compliance with the terms of its signed oil exploration licences, the provisions of the Petroleum Act and the Petroleum Regulations of The Bahamas.

The government, which was formed following recent general elections, also said the company will not be held to its drilling commitments under its licences as a result of its plans to hold a national referendum on oil exploration in Bahamian waters.

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Bernard Nottage (top-left), Minister of National Security, is leading a parliamentary delegation to the 58th Annual Conference of The Commonwealth Parliamentary Association (CPA) being held September 7-15, 2012, in Colombo, Sri Lanka.

Kendal Major (top-right), Speaker of the House of Assembly, is attending as a member of the CPA Executive Committee.

The other members of the delegation are (below left-right): Glenys Hanna-Martin, Minister of Transport & Aviation; Theo Neilly, Member of Parliament for North Eleuthera; and Maurice Tynes, secretary to the delegation.
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Bahamian tennis great Mark Knowles has announced his retirement from the sport after 20 years of competing at the top level.
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Sept. 10, 2012 (StockMarketWire.com) – Bahamas Petroleum has received written confirmation over its existing licences from the Bahamas government following the recent general election.

The company has been notified that it is, and has been, in full compliance with the terms of the signed oil exploration licences, the provisions of the Petroleum Act, and the Petroleum Regulations of The Bahamas and that all fees due have been paid.

Further, the government has detailed recommendations from the Bahamas Environment, Science and Technology (BEST) Commission regarding completion of the environmental impact assessment and environmental management plan process associated with its future drilling obligation which the company has already adopted into its future plans.

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This is an excerpt from StockMarketWire as it appeared on September 10, 2012. For updates or to read the current version of this post in its entirety, please click here.

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Minister for Grand Bahama Michael Darville on September 5 met with cruise industry officials, with a view of helping to grow the industry on Grand Bahama and eyeing potential job opportunities for locals onboard the various cruise ships serving the island.

Minister for Grand Bahama Michael Darville meets with top executives of Celebration Cruise Line September 5. Pictured left to right are: James Velrillo, Celebration Cruise Line; Darville; Charles Kinner, president of Celebration Cruise Line; Melvin Seymour, permanent secretary at the Ministry for Grand Bahama; and Daniel Lambert, Celebration Cruise Line.

Darville spent Wednesday morning meeting with executives of Celebration Cruise Line, including company president Charles Kinner. The Celebration sails four times weekly between Grand Bahama and West Palm Beach, Florida.

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Prime Minister Perry Christie has said that a number of investments are in the planning stage that will bring more jobs to the nation in construction and services. Watch a ZNS report here.
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