Bahamas Petroleum Announce 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, announced 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.
Source: Bahamas Petroleum Company plc