Press Speculation in relation toDirectorate Change

RNS Number : 6569N

Bahamas Petroleum Company PLC

05 September 2011

 



5 September 2011

Bahamas Petroleum Company plc

("Bahamas Petroleum" or the "Company")

Press Speculation in relation to Directorate Change

The board of Bahamas Petroleum ("Board") notes press speculation over the weekend and is pleased to announce that the Company is in the process of finalising the appointment of Simon Potter as Chief Executive Officer of the Company.  Mr Potter's appointment is subject to final approval from the Company's nominated adviser. Simon brings over 30 years of international oil and gas experience to the Board at a time critical to the future growth of the Company, including 20 years with BP and subsequent CEO roles with AIM listed Hardman Resources and ASX listed Dart Energy Limited.
 

Mr Potter will work, together with other members of the Board, in identifying further high calibre appointments to the Company in both executive and non-executive positions.  In particular, he will seek to appoint a Chief Financial Officer of the Company to conclude a process that has been ongoing for some months.  In combination, these new appointments will help drive the next stage of the Company's growth and development to further underpin and enhance growth in shareholder value.
 
Commenting, Chief Executive designate Simon Potter commented:
 
"I am excited to be joining the Board of Bahamas Petroleum at this time, whilst anticipating the results of the ongoing 3D survey and looking forward to further technical development of the Company. The existing executive management team has done a great job in bringing the company to this current position and I look forward to working with the team over the coming weeks and months to advance further growth options for the Company. In the immediate short term I will work closely with the rest of the Board, and ultimately in consultation with shareholders, to ensure that the Company has in place industry best practices and the best people with which to drive the business forward for the benefit of all shareholders."
 
The announcement of the formal appointment of Mr Potter will be made as soon as practicable in accordance with the AIM Rules for Companies.

For further information contact:

Strand Hanson Limited - Nomad Rory Murphy / Liam Buswell	Tel: [phone]
Financial Dynamics Billy Clegg / Ed Westropp / Alex Beagley	Tel: [phone]
Canaccord Genuity Limited - Joint broker Charles Berkeley / Henry Fitzgerald-O'Connor	Tel: [phone]
FirstEnergy Capital LLP - Joint broker Hugh Sanderson / Derek Smith	Tel: [phone]
Novus Capital Markets Ltd - Joint broker Nicholas Lee	Tel: [phone]

 

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