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Bahamas Petroleum sees shares surge in early deals

BPC (LON: BPC) has been in the limelight this morning as shares surge on London Stock Exchange, rising eight per cent to claw back some of Friday's losses. 

Proactive Investors
Monday, April 23, 2012
Monday, April 23, 2012

Small cap oil and gas companies Matra Petroleum (LON:MTA) and Bahamas Petroleum (LON:BPC) were in the limelight this afternoon after seeing their shares surge in early deals.

Bahamas Petroleum did well, rising eight percent to claw back some of Friday’s losses, which came after Bahamas Prime Minister said he would ban oil drilling in Bahamian waters if re-elected.

Today, BPC noted that its exploration licence states that if it complies with its terms and conditions, it should be renewed for another three years by the governor-general.

According to the company, it has “significantly” exceeded all of its licence commitments and obligations, having spent more than US$50 million.
“The company is already working to fulfil the increased requirements of this next three-year phase,” BPC said in a statement.

This is an excerpt from Proactive Investors as it appeared on April 23, 2012. For updates or to read the current version of this post in its entirety, please click here.

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The wealth being produced by emerging economies is producing a more discerning type of tourist, one that pays more attention to quality of service than to expense, according to Julius Baer chief economist. This, he says, is something on which The Bahamas should capitalize.

China’s economic might has rolled up to America’s doorstep in the Caribbean region, with a flurry of loans from state banks, investments by companies and gifts from the government to The Bahamas, according to a photojournalism piece on The New York Times website.

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