BPC Ltd was formed when the oil and gas exploration company of the same name reversed into Falkland Gold and Minerals Ltd, which had been exploring for metals on the Falkland Islands. In January 2008, FGML said that it had failed to find economic mineral deposits. In September 2008, six FGML shares were issued for each BPC share, which left BPC shareholders with 90% of the company. BPC invests in offshore oil exploration in the Bahamas.

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