Change of Adviser

RNS Number : 1544A

Bahamas Petroleum Company PLC

27 January 2011

 



27 January 2011

Bahamas Petroleum Company PLC

("Bahamas Petroleum" or the "Company")

Appointment of Joint Broker

Bahamas Petroleum, the oil and gas exploration company with licences in The Bahamas, is pleased to announce that is has appointed Canaccord Genuity as joint broker to the Company, with immediate effect.  

Paul Crevello, Chief Executive of Bahamas Petroleum, said:

"We are delighted to welcome Canaccord Genuity to our advisory team, and we believe they will help us grow the business into its the next stage of development.

"The Board is also pleased with the performance of its existing brokers, Novus Capital Markets and First Energy Capital, and will be retaining both advisers to work in co-operation with Canaccord Genuity going forward."

American Depository Receipt Scheme

In addition, the Company announces that it has begun the process of listing its existing shares on the OTCQX exchange system, as Level 1 American Depository Receipts ("ADRs").  The completion of this arrangement will allow American retail investors access to the Company's existing shares, thereby expanding liquidity in the trading of the Company's shares.  It is anticipated that the ADR listing process will be completed in the coming weeks, and an appointment announcement will be made by the Company in due course.

- Ends -

For further information contact:

Bahamas Petroleum Company PLC Alan Burns, Chairman Dr Paul Crevello, Chief Executive Officer	Tel: [phone] Tel: [phone]
Strand Hanson Limited - Nomad Rory Murphy / Liam Buswell	Tel: [phone]
Novus Capital Markets Ltd - Joint broker Charles Goodfellow	Tel: [phone]
FirstEnergy Capital LLP - Joint broker Hugh Sanderson / Derek Smith	Tel: [phone]
Canaccord Genuity - Joint broker Charles Berkeley / Henry Fitzgerald-O'Connor	Tel: [phone]
Financial Dynamics Billy Clegg / Ed Westropp / Alex Beagley	Tel: [phone]

 

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