Deals this week: Bahamas Petroleum, Tap Oil, Qatar Petroleum

15 June 2017 (Last Updated June 15th, 2017 18:30)

Bahamas Petroleum Company Plc has raised $1.9m through the issue of 150 million shares in a conditional private placement, at the price of $0.012 a share.

Bahamas Petroleum Company Plc has raised $1.9m through the issue of 150 million shares in a conditional private placement, at the price of $0.012 a share.

The proceeds from the placement are planned to be used by Bahamas Petroleum to either complete a farm-in or conduct drilling of an exploration well within its southern licenses.

Tap Oil Limited has agreed to dispose 20% interest in permit WA-8-L's production license located in the Northern Carnarvon Basin, Australia, to a private exploration and production (E&P) company for a cash consideration of $0.6m.

The license extends over an area of 161km² within the north-eastern part of the Dampier sub-basin of the Northern Carnarvon Basin, and includes the Talisman and Amulet oil fields.

"Tap Oil Limited has agreed to dispose 20% interest in permit WA-8-L’s production license to a private exploration and production (E&P) company for a cash consideration of $0.6m."

The transaction is part of Tap Oil’s wider strategy to realise value from its non-core asset portfolio.

Qatar Petroleum, through its subsidiary Wave LNG Solutions LLC, has reached an agreement with Royal Dutch Shell plc subsidiary Shell Gas & Power Developments BV to build liquefied natural gas (LNG) marine fuelling or bunkering infrastructure at strategic shipping locations worldwide.

The LNG bunkering infrastructure will supply enough LNG fuel to the shipping industry to meet its various environmental and economic objectives.