Bahamas Petroleum (BPC) expects further significant growth in 2011, as it eyes up its first high impact well next year.
The AIM-listed company described 2010 as a “busy year” in which it said it experienced significant growth in shareholder value during the final quarter thanks to the positive results of its seismic programmes.
Results from its 2D seismic surveys revealed giant structures up to 70 kilometres long, with four-way vertical closure from 100 metres to substantially over a kilometre. Based on the success of these programmes, Bahamas Petroleum applied for two additional licences, currently under review by the Bahamian government.
The progress made has left it anticipating further significant growth this year, with the potential completion of farm-ins as it looks to best position itself ahead of next year’s drilling.
