Bahamas Petroleum Company convinces Simon Peter to stay another year

Oil and gas exploration group Bahamas Petroleum Company announced on Thursday that its chief executive officer Simon Potter had agreed to an extension to his current employment contract, which was due to expire on 31 March.

The AIM-traded firm said the extension was for 12 months, with no changes to the terms outlined on 6 August last year.

“We are entering a highly significant period for BPC, having recently been granted an extension to the term of our exploration licences to the end of 2020 and secured the funding necessary to meet the company's working capital needs whilst we secure a deal to progress our first exploration well,” said the company’s chairman Bill Schrader.

“I am delighted at Simon's continued commitment to the project which provides clarity and continuity of leadership as we work with potential partners to get an exploration well funded and drilled.”