LONDON (Alliance News) - Bahamas Petroleum Co PLC on Thursday said Chief Executive Simon Potter has agreed a one-year extension to his contract, which was due to expire at the end of the month.
"We are entering a highly significant period for Bahamas Petroleum, 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," Chair Bill Schrader said.
He added: "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."
Shares in the oil & gas exploration firm were trading 5.0% higher Thursday at 1.78 pence each.