(AIM BPC) THE BAHAMAS

Key Conclusions
• First mover advantage in assembling acreage in The Bahamas
• Oil province with world-class exploration potential
• Strategy to use farm-outs and also retain 100% owned acreage
• Size and scale of the opportunity attractive to Majors and NOCs
• 2D modern seismic acquired in June 2010 and January 2011 confirms the Company’s petroleum
assessment of multiple giant size structures capable of holding > 500 MBoE
• CPR underway to define scope of seismic analysis and to identify high-grade prospects to be drilled in
H1 2012
• In discussion with other potential partners and more deals expected in time
• Raised US$ 73.0 million before (before expenses)
Intended use of placing proceeds:
• 3D seismic and 2D shallow seismic US$ 36.8m
• Geochemical sniffer / multibeam US$ 6.4m
• Working capital and other exploration costs US$ 26.1m
Bahamas Petroleum Company believes there are supergiant oilfields
to be found in Bahamas waters and is working on its own and with
partners to find them
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