Bahamas Petroleum Company PLC Extension of CEO contract (2415U)

TIDMBPC

RNS Number : 2415U

Bahamas Petroleum Company PLC

28 March 2019

28 March 2019

Bahamas Petroleum Company plc ("BPC" or the "Company")

Extension of CEO contract

Bahamas Petroleum Company plc, the oil and gas exploration company with a significant prospective resource in licences in The Commonwealth of The Bahamas ("The Bahamas"), is pleased to announce that Simon Potter, Chief Executive Officer of the Company, has agreed to an extension to his current employment contract which expires on 31st March 2019. The extension is for 12 months with no changes to the terms outlined on 6 August 2018.

Bill Schrader, non-executive Chairman commented:

"We are entering a highly significant period for BPC, having recently been granted an extension to the term of our exploration licences to the end of 2020 and secured the funding necessary to meet the Company's working capital needs whilst we secure a deal to progress our first exploration well. I am delighted at Simon's continued commitment to the project which provides clarity and continuity of leadership as we work with potential partners to get an exploration well funded and drilled."

Ends

For further information, please contact:

 
 Bahamas Petroleum Company plc                 Tel: [phone] 
  Simon Potter, Chief Executive Officer         882 
 Strand Hanson Limited - Nomad                 Tel: [phone] 
  Rory Murphy / James Spinney                   3494 
 Shore Capital Stockbrokers Limited - Broker   Tel: [phone] 
  Jerry Keen / Toby Gibbs                       4090 
 CAMARCO                                       Tel: [phone] 
  Billy Clegg / James Crothers / Thayson        4983 
  Pinedo 
 

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March 28, 2019 03:00 ET (07:00 GMT)