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IN BRIEF: Bahamas Petroleum team join raise; ex-BP exec set for board

Thu, 13th May 2021 14:56

Bahamas Petroleum Co PLC - assets in Bahamas, Uruguay, Trinidad & Tobago and Suriname - Says all members of the board will take part in the company's open offer of shares, buying 85 million shares at 0.35 pence, worth GBP297,500. Bahamas Petroleum is hoping to raise GBP6.9 million in total and on Tuesday extended the deadline for the offer to Tuesday next week. Additionally, Bahamas hires Robert Riley as a non-executive director. Riley was chair & chief executive officer of BP PLC in Trinadad & Tobago. It also says the mobilisation of the drilling rig to the Saffron-2 wellsite in Trinidad & Tobago has been completed, and the spud of the well is on track for May 23.

Current stock price: 0.36p, up 6.7% on Thursday

Year-to-date change: down 83%

By Tom Waite; thomaslwaite@alliancenews.com

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IN BRIEF: Bahamas Petroleum team join raise; ex-BP exec set for board

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