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Update on Court Process in The Bahamas, 29 Dec 2020 01:00

· An Application to the Supreme Court of the Bahamas ( Court ) for leave to apply for a Judicial Review, brought against the Government of The Bahamas in respect of the issue to BPC (in February 2020) of an Environmental Authorisation for drilling of the Perseverance #1 well, was refused on the papers by the Court on Thursday, 24 December 2020 · Accordingly, a request for a stay order (halt) to BPC s drilling activities was refused at that hearing · The Applicants have made a renewed application for Judicial Review in respect of the Environmental Authorisation and, on Saturday, 26 December 2020, the Court advised that there would be an oral hearing of the renewed application on Tuesday, 29 December 2020

Trinidad and tobagoCity ofUnited kingdomSouth west peninsulaSimon potterChris sim rahul sharmaToby gibbsJustice petra hanna weekesLondon stock exchangeBahamas petroleum companySupreme courtShore capital stockbrokersBahamas courtCourt onStrand hansonInvestec bank plc

Bahamas Petroleum Company plc ( BPC or the Company ): Update on Court Process in The Bahamas

Bahamas Petroleum Company plc ( BPC or the Company ): Update on Court Process in The Bahamas
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Investegate |Bahamas Petroleum Co Announcements | Bahamas Petroleum Co: Update on Court Process in The Bahamas

· An Application to the Supreme Court of the Bahamas ( Court ) for leave to apply for a Judicial Review, brought against the Government of The Bahamas in respect of the issue to BPC (in February 2020) of an Environmental Authorisation for drilling of the Perseverance #1 well, was refused on the papers by the Court on Thursday, 24 December 2020 · Accordingly, a request for a stay order (halt) to BPC s drilling activities was refused at that hearing · The Applicants have made a renewed application for Judicial Review in respect of the Environmental Authorisation and, on Saturday, 26 December 2020, the Court advised that there would be an oral hearing of the renewed application on Tuesday, 29 December 2020

Trinidad and tobagoCity ofUnited kingdomSouth west peninsulaSimon potterChris sim rahul sharmaToby gibbsJustice petra hanna weekesLondon stock exchangeBahamas petroleum companySupreme courtShore capital stockbrokersBahamas courtCourt onStrand hansonInvestec bank plc

Bahamas Petroleum Company plc ( BPC or the Company ): Update on Court Process in The Bahamas - Press Release

Bahamas Petroleum Company plc ( BPC or the Company ): Update on Court Process in The Bahamas - Press Release
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Oil explorer fears its major $100m asset extinguished

And cost potential $2.4bn jump in their value BPC chief warns of Bahamas reputation hit By NEIL HARTNELL nhartnell@tribunemedia.net The Bahamas Petroleum Company (BPC) has warned that its major $100m asset will be extinguished , thereby threatening its survival, if the Supreme Court halts its oil drilling activities. Simon Potter, its chief executive, revealed in a December 11, 2020, affidavit that it would be impossible for the company to apply for the renewal of its five southern Bahamian licences by the March 31, 2021, deadline unless it is able to complete its Perseverance Once exploratory well within the targeted 45-60 days. Disclosing that the results will be critical to determining whether BPC seeks to renew these licences, Mr Potter argued that the oil exploration outfit faced potentially extreme economic losses if environmental activists successfully persuade a judge to stay Perseverance One s drilling as part of their Judicial Review challenge to the project

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