(AIM BPC) THE BAHAMAS

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Bahamas Petroleum Company Group Overview • Formed in 2005 and listed on the AIM market in Sept 2008 (reverse takeover) − Current market capitalisation is approx. US$357 million (GBP£218 million) as at 07/05/11 (BPC: AIM) − First oil company to conduct new work in the highly prospective southern Bahamas region since 1987 • First mover advantage in assembling a material portfolio of oil and gas leads in The Bahamas − World-class exploration with giant (500 mn boe) and super-giant leads exceeding 1bn boe − Attractive fiscal terms: low royalty; no corporation tax − Adjacent to Cuban waters where an active drilling programme is due to commence • Partial farm-out strategy to fund major costs while retaining 100% ownership in some areas − Maintain meaningful working interest positions while reducing exploration risk • Size and scale of the opportunity is significant − Attractive to Majors and NOCs who are increasingly active in the region • Recent results and near-term seismic and drilling programme − New 2D seismic >1,300 km (June 2010 and January 2011) − PSTM seismic analysis has defined multiple drillable prospects − Ryder Scott has initiated a CPR to rank prospect portfolio and assign resource estimates − 3D seismic to commence in Q2 2011 − Plans to drill projected for H1 2012 • Raised US$ 73.0m (before expenses) March 2011 4
Bahamas Petroleum Company Board Alan Burns: Non-Executive Chairman – Isle of Man − − Alan Burns is founder of the Bahamas Petroleum Company Group and has a successful 37 year career in the oil business including founding Hardman Resources, which was sold to Tullow Oil in 2006 for AUD$1.6bn Involved in 28 new oil and gas field discoveries and developments including original Uganda discovery Dr Paul Crevello: Director & Chief Executive Officer – USA/Bahamas − − Dr Paul Crevello is a carbonate reservoir oilfield expert and has wide international experience in the discovery of major oilfields Considerable experience in Bahamas geological investigation Michael Proffitt: Non-Executive director – Isle of Man − − Michael Proffitt is formerly an international banker with Barclays as worldwide Chairman of Barclays Private Clients International Limited. He is a former resident of The Bahamas and is well known in the Bahamian business world Fellow of the Institute of Chartered Accountants in England and Wales Dursley Stott O.B.E: Non-Executive director – Isle of Man − − Dursley Stott has played an important part in the Isle of Man’s financial growth during the last 50 years and is a founder of a successful stockbroking firm on the Island Experienced international businessman Edward Shallcross: Non-Executive director – Isle of Man − − Edward Shallcross has almost 40 years’ experience in the financial sector, predominantly at Barclays Bank plc, where he worked from 1960 until his retirement in 1998, at which point he held the role of Isle of Man Director and Senior Executive Director of the bank Fellow of the Chartered Institute of Bankers 5
Page 1 and 2: (AIM: BPC) THE BAHAMAS: A GIANT OIL
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Page 7 and 8: Corporate Overview GBP USD Price* 0
Page 9 and 10: Bahamas Petroleum Company Technical
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Page 17 and 18: Giant Prospects - Bahamas Petroleum
Page 19 and 20: Size of Prospects Identified by Jan
Page 21 and 22: Giant Prospects - Bahamas Petroleum
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Page 27 and 28: Seismic Data Analysis- February 201
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Page 31 and 32: Conclusions of the Report "The Baha
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(AIM BPC) THE BAHAMAS

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