Bahamas Petroleum, Fugro Sign Contract for Seabed Survey

Bahamas Petroleum has signed a contract with Fugro N.V. ("Fugro") to undertake a high resolution seabed survey on the Company's license area. The survey will begin in early June; will take approximately six weeks to complete; and will also be used for the 3D seismic survey being undertaken by CGGVeritas.

Dr. Paul Crevello, CEO of Bahamas Petroleum, said, "We are pleased to have signed this contract with Fugro and look forward to receiving the results of the seabed survey in due course, which will be applied towards the hydrocarbon seep detection and environmental assessment of the area. This is another important step in the Company's exploration program."

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