Corporate History

Significant milestones in Bahamas Petroleum Company history:

2005

  • April - Group is founded by Alan Burns
  • June - Licence applications are submitted

 

2006

  • January 2006 - Board expands to include Michael Proffitt as Director
  • March 2006 - Licence awarded and reassigned November 2006
  • November 2006 - Paul Crevello joins the Company as Chief Operating Officer

 

2007

  • February 2007 - Ministry of Energy grants the licence applications
  • April 2007 - Five licences approved by Governor General of The Bahamas
  • July 2007 - Company applies for additional licences

 

2008

  • September 2008 - Company completes RTO onto AIM market through acquisition of Falkland Gold and Minerals

 

2009

  • April 2009 - Statoil joint exploration agreement is signed on 3 licences

 

2010

  • April 2010 - Company announces intention to re-domicile in Isle of Man
  • April 2010 - Ministry gazettes Bahamas Petroleum Company/Statoil Cay Sal applications
  • August 2010 - Company announces preliminary results of seismic
  • August 2010 - Company applies for 2 additional licences and tenders for additional seismic
  • September 20120 - Bahamas Government announces temporary freeze on licence applications
  • October 2010 - Company raises £5.1mn for 2D seismic campaign

 

2011

  • January 2011 - Paul Crevello is appointed CEO and Alan Burns becomes Non-Exec Chairman
  • February 2011 - Company announces completion of 2D seismic survey and successful initial results
  • February 2011 - Eddie Shallcross is appointed as Non-Executive Director
  • March 2011 - Company successfully raised £45.6 million
  • May 2011 - 3D Acquisition contract signed after encouraging 2D results
  • May 2011 - 3D Acquisition commences
  • June 2011 - Paul Gucwa is appointed as Chief Operating Officer
  • July 2011 - Competent Persons Report
  • August 2011 - Steve Weyel is appointed as Non-Executive Director
  • August 2011 - Paul Crevello resigned as CEO
  • September 2011 - Alan Burns resigns as Director and Chairman but is invited to become President of Bahamas Petroleum Company
  • September 2011 - Mike Proffitt resigns as Director
  • October 2011 - Acquisition of 3D seismic survey around potential drilling prospects and Multibeam - Geochem seabed study
  • October 2011 - Simon Potter is appointed as CEO
  • October 2011 - Adrian Collins is appointed as Non-Executive Chairman

 

2012

  • January 2012 - Company announces 3D Seismic results from initial processing
  • March 2012 - Royal Fidelity contracted to manage BISX listing
  • March 2012 - Environmental Impact Assessment accepted by Bahamas Government
  • April 2012 - Front End Engineering and Design (FEED) contract awarded to Applied Drilling Technology Inc (ADTI) for well design
  • April 2012 - Office established at Mount Pleasant Village, Lyford Cay
  • May 2012 - Data room closed
  • April 2012 - Ross McDonald is appointed as Non-Executive Director and Dursley Stott resigned as Non-Executive Director