BPC.L Regulatory News (BPC)

17 June 2015

Bahamas Petroleum Company plc

("Bahamas Petroleum" or the "Company")

Licence Renewal Addendum

Bahamas Petroleum Company, the oil and gas exploration company with a significant prospective resource in licences in The Commonwealth of The Bahamas, today announces that The Governor-General of The Bahamas has signed the Licence Renewal Addendum.

As previously advised, the Company entered into a Licence Renewal Addendum with The Government of The Bahamas in respect of its four southern licences. The conditions relevant to the renewal are contained in the announcement made by the Company on 18 May 2015.

Signing of the Licence Renewal Addendum by The Governor-General formally completes the licence renewal process and establishes the exact date pertaining to the renewal, such that the second exploration term of the four southern licences will now run until 8 June 2018.

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Notes to editors:

Bahamas Petroleum Company is an oil and gas exploration company with 100% owned offshore licences exclusively focused on the Commonwealth of The Bahamas. The Company has significant prospective resources, which have been de-risked through both extensive 2D and 3D seismic. The four Southern Licences, with a newly agreed well obligation date of April 2017, run until 2Q 2018 when the licences may be renewed a further two times. The Company is intent on delivering safe and environmentally responsible exploration.

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