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IN BRIEF: Columbus Energy Shareholders Approve Bahamas Petroleum Merge

Mon, 27th Jul 2020 21:52

Columbus Energy Resources PLC - Trinidad-based oil and gas explorer - Gains shareholder approval for proposed merger with Bahamas Petroleum Co, which is now conditional on being sanctioned by the court. In June, both companies agreed to all-share merger, where for each share in Columbus they own, shareholders will receive 0.803 Bahamas Petroleum shares, a deal which values London-based Columbus at GBP25.1 million.

Current stock price: 1.85 pence

Year-to-date change: down 46%

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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16 Dec 2015 17:06

Bahamas Petroleum Notes Second Reading Of Petroleum Legislature

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23 Jul 2015 08:29

Bahamas Wants To Drill "As Soon As Possible" But Waiting For Partner

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Bahamas Petroleum Renews Southern Licences Until 2018

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17 Jun 2015 08:23

Bahamas Petroleum shares surge on licence renewal green light

Shares in Bahamas Petroleum Company (BPC) jumped on Wednesday after the oil and gas explorer received the all-clear to start drilling on four southern licences. After agreeing terms of a licence renewal addendum last month, the Governor General of Bahamas has now given the green light for operations

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8 Jun 2015 11:18

Bahamas Petroleum narrows loss with cost-cutting measures

Bahamas Petroleum reported a narrower pre-tax loss in 2014, as legal and professional fees shrank in the run up to drilling. For the 12 months ended 31 December, the company posted an overall loss of $4.7m, down 10% from 2013's $5.2m. Cost reduction actions include the board's decision to defer 20%

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