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IN BRIEF: Bahamas Petroleum Secures GBP15 Million Of Potential Funding

Mon, 14th Dec 2020 20:39

Bahamas Petroleum Co PLC - Caribbean and Atlantic margin focused oil and gas company - Enters into agreements with unnamed European alternative asset manager to access gross funding of GBP15 million. BPC will immediately receive gross proceeds of GBP7.5 million through the issue of 375 million new ordinary shares at a price of 2.0 pence each. BPC also enters into an option agreement to raise up to a further GBP3.75 million from investor within 10 days after the spud of the Perseverance no. 1 well.

Current stock price: 2.64 pence

Year-to-date change: up 31%

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

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IN BRIEF: Bahamas Petroleum Secures GBP15 Million Of Potential Funding

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