BPC.L Regulatory News (BPC)

23 April 2012

Bahamas Petroleum Company plc

("Bahamas Petroleum" or the "Company")

License Update

The Company confirms that its petroleum exploration licenses state that; "where the licensee applies for renewal and has complied with the Act, Regulations and the terms and conditions contained in this license, the Governor-General shall renew this License for a further period of three (3) years."

Bahamas Petroleum Company believes it has significantly exceeded all license commitments and obligations with cumulative expenditure in excess of $50 million.

The Company is already working to fulfill the increased requirements of this next three-year phase.

- Ends -

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