Director Dealings

17 January 2011

Bahamas Petroleum Company PLC

("Bahamas Petroleum" or the "Company")

Director Dealings

The Company was informed on 15 January 2011 that, on 14 January 2011, Alan Burns, a director of the Company, disposed of 4,770,000 ordinary shares of 0.002 pence each in the Company ("Ordinary Shares") (the "Disposal"). The weighted average price obtained for the shares was 16.35 pence per Ordinary Share.

Following the Disposal, Mr Burns is now interested in 30,050,000 Ordinary Shares representing 3.04 per cent. of the Company's issued share capital.

Alan Burns, Chairman, said:

"The Disposal of shares was made in order to fund the extra support I need personally following my learning of a medical condition which will require surgery and a period of rehabilitation. I wish to confirm that this does not reflect on my view of the Company, in which I am personally enthused."

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