Bahamas Petroleum Company sought to reassure investors on Monday that its drilling permits would be renewed, after local media reports last week raised fears they might not.
Bahamas Petroleum, whose portfolio comprises five exploration licenses in the Bahamas, says on its website that the Bahamas government will renew its licenses for another three years if it commits to drill and spuds a well by April 26, 2013. Its drilling permit expired on Saturday.
