Monday, February 24, 2020

Bahamas Petroleum Company is a small cap throwback, high impact exploration is becoming increasingly rare

Against a thinning pool of capital for petroleum exploration and the rise of ESG, a bone fide ‘company maker’ exploration project is a rare thing to see on the stock market.

Bahamas Petroleum Company PLC (LON:BPC) will in the next two months drill a massive exploration target in its highly prospective Caribbean waters.

The explorer’s Perseverance well, with the potential to discover close to 800mln barrels of crude, has been described as one of the “premier prospects” to be drilled anywhere in the world this year.

As its name hints at, the project has been years in the making – with the company working for a long time to secure permits and permissions to drill.

In fact, as it is finally drilled this spring the well will be a bit of a throwback.

In 2020, binary ‘company-maker’ wells are a rarity.  Read more >>