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MAKE IT PUBLIC: Environmentalists call on govt to release BPC documents

NASSAU, BAHAMAS Environmentalists yesterday called on the government to “live up its transparency promise” in addressing their concerns about Bahamas Petroleum Company (BPC)’s exploratory oil well. Our Islands, Our Future, an environmental coalition, in a statement asked: “Why is it taking so long for details of Bahamas Petroleum Company’s oil drilling exercise to be released? “Our Islands, Our Future, on behalf of the concerned public, continues to press for answers. Without the technical data and detailed results from the failed drilling exercise, it is impossible to track the potential for future environmental harm as the company is not letting up on its dream to drill again.”

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Proactive Oil & Gas weekly highlights: Bahamas Petroleum Company PLC, Providence Resources PLC, ADM Energy PLC, Union Jack Oil PLC, 88 Energy Ltd, Deltic Energy PLC, Advance Energy PLC, Mosman Oil and Gas Ltd

Follow Jamie on: Proactive Oil & Gas weekly highlights: Bahamas Petroleum, Providence Resources, ADM, Union Jack, 88 Energy, Deltic, Advance Energ, Mosman It was another active week in the small-cap oil and gas sector. Bahamas Petroleum Company PLC (LON:BPC) will convene an extraordinary general meeting and it revealed a number of material changes to the business including a £6.9mln capital raise, a new chief executive, and a rebrand to ‘Challenger Energy Group PLC’. Challenger Energy will in the near-term focus on cashflow and production whilst managing a cost cutting initiative to reduce its operational cost by at least 20% to 30%. Eytan Uliel, currently commercial director, will become the company’s new chief executive and Simon Potter is to transition to a non-executive director role, effective from May 20.

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Bahamas Petroleum Company PLC to reset and rebrand as Challenger Energy Group

Follow Jamie on: Bahamas Petroleum to reset and rebrand as Challenger Energy Group The chairman said the plans unveiled today will reset the company and its capital structure, including a new £6.9mln equity raise Bahamas Petroleum Company PLC (LON:BPC) said it will convene an extraordinary general meeting and reveal a number of material changes to the business including a £6.9mln capital raise, a new chief executive, and a rebrand to ‘Challenger Energy Group PLC’. Challenger Energy will in the near-term focus on cashflow and production whilst managing a cost cutting initiative to reduce its operational cost by at least 20% to 30%.

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Bahamas Petroleum changes name, plans share issue in company

Bahamas Petroleum changes name, plans share issue in company reset Fri, 23rd Apr 2021 15:05 (Alliance News) - Bahamas Petroleum Co PLC on Friday announced a wide-ranging corporate upheaval including a name change, new CEO and equity raise. Shares were down 24% to 0.40 pence in London on Friday afternoon. The Caribbean-focused oil and gas producer plans to change its name to Challenger Energy Group PLC, as its operations have expanded to several countries other than the Bahamas. BPC plans to sell GBP6.9 million of new shares for 0.35 pence each. The cash will be used to fund its strategy to significantly increase production. Furthermore, the company plans to convert early GBP2.5 million convertible notes into shares.

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Investegate |Bahamas Petroleum Co Announcements | Bahamas Petroleum Co: Notice of Extraordinary General Meeting

Investegate |Bahamas Petroleum Co Announcements | Bahamas Petroleum Co: Notice of Extraordinary General Meeting
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