"2021 will be a busy year for BPC in pursuing operations that have the potential to create considerable value for the company,” said chief executive Simon Potter.
Bahamas Petroleum Company PLC (LON:BPC) has arranged up to US$20mln of additional funding to support its plans in Trinidad and Suriname, along with the upcoming Perseverance-1 well in The Bahamas.
Through an agreement with a European alternative asset manager it will immediately receive £7.5mln (US$10mln) through the issue of 375,000 new shares priced at 2p each. An option agreement allows it to access up to US$10mln (£7.5mln) within 10 days after the spud of Perseverance-1. Read more >>