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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