Bahamas Petroleum Company is an oil and gas exploration company with 100% owned offshore licences exclusively focused on the Commonwealth of The Bahamas.  We are intent on demonstrating a dramatic reduction in technical risk through the acquisition and interpretation of modern data and committed to maintaining environmentally responsible exploration.

The Bahamas Petroleum Company was formed to invest in an offshore oil exploration programme in licence areas covering approximately 16,000 sq km (4 million acres) in the territorial waters and maritime Exclusive Economic Zone (EEZ) of The Bahamas. The Group holds 100% interests through wholly owned subsidiaries in five Exploration Licences granted by the Government of the Commonwealth of The Bahamas, has joint applications with Statoil for a further 3 licences and sole applications for an additional 2 licences.

Over the past sixty years sporadic exploration has been conducted in The Bahamas. However, there has been very little drilling activity, with no drilling in the last 25 years, and, until Bahamas Petroleum Company's involvement much of the seismic acquisition activity also occurred more than 25 years ago. Five deep petroleum exploration wells have been drilled onshore or in the Bahamian shallow waters between 1947 and 1986. Two wells were drilled in Bahamas Petroleum Company's current licence areas -Great Isaac #1 & Doubloon Saxon #1.

In spite of the previous activity there was little or no oil and gas data readily available in The Bahamas when the Bahamas Petroleum Company project was initiated in 2005. By conducting a three year international search and the purchase of materials from oil companies, universities and research institutions, the Bahamas Petroleum Company team has acquired extensive material which includes well cores and rock samples going back to 1958 and a large amount of seismic data of various qualities.

In 2010 and 2011 the Company acquired modern 2D data over the southern licences.  These data confirmed the presence of several large structures and provided the basis for the Ryder-Scott Competent Persons Report (CPR) released in July 2011.  (This report is posted under Our Operations/Competent Persons Report).

Also in 2011 the Company completed the acquisition of a 3,074 sq km 3D survey.  These data are currently being interpreted. The data are of high quality and have already underpinned the Company choice of a proposed well location. Using these data Applied Drilling Technologies International (ADTI) has commenced the design of a well capable of testing the oil and gas potential and discharging our licence obligations. This survey provides the best data available to plan a safe well which is planned to intersect multi-billion barrel targets at a number of levels through the Cretaceous section and to better understand the Jurassic potential at depth.

With the benefit of this accumulated knowledge - both recent and historical - and the use of modern interpretative technologies Bahamas Petroleum Company is proud to be able to bring new insight to the potentially significant prospectivity of The Bahamas for world scale oil and gas discoveries. Now with the world ever hungrier for new large oil hydrocarbon supplies, particularly  close to the major markets of North America, and oil prices seemingly always on the increase, this work could realise a substantial increase in wealth creation for the people of The Bahamas, our shareholders and our many other stakeholders. Management has long experience in finding and developing new oil and gas fields in overlooked as well as new areas and has a sound track record for value creation.