AIM Rule 26
Description of Business
The Company’s business currently is focused and single-purpose: we have five licences for hydrocarbon exploration covering approximately 16,000 km2 (4 million acres) in the territorial waters of The Bahamas. The Company has four exploration licences in the southern territorial waters of The Bahamas, referred to as Bain, Cooper, Donaldson, Eneas (these four licences together referred to as the “Southern Licences”) and a fifth, the Miami licence, in the northern territorial waters of The Bahamas. The main licences of interest and focus are the Southern Licences.
As an AIM quoted company, Bahamas Petroleum Company plc is not required to comply with the requirements of The UK Corporate Governance Code (the “Code”). However, the Board recognises the importance of the high standards of good corporate governance prescribed in this Code and seeks to apply its principles, in so far as practicable, having regard to the Group’s current size, stage of development and resources. The Board is accountable to the Company’s shareholders and takes account of the Code and the QCA’s Corporate Governance Code for Small and Mid-Size Quoted Companies 2013 to the extent it is considered appropriate. Bahamas Petroleum Company’s current corporate governance arrangements are summarised in the Corporate Governance link below.
UK City Code on Takeovers and Mergers: Bahamas Petroleum Company is subject to the UK City Code on Takeovers and Mergers.
Country of Incorporation and Operation
Bahamas Petroleum Company plc is incorporated in the Isle of Man with Company Number 123863C, at IOMA House, Hope Street, Douglas, Isle of Man, IM1 1AP. The Company’s main country of operation is The Bahamas.
Website updated on 24 January 2020.