STOCK WATCH

SHARES in Bahamas Petroleum exploded after it signed a deal with a global oil company that could lead to a major drilling tie-up.

The Aim- listed firm has signed a so-called confidentiality and exclusivity agreement allowing the unnamed oil giant partner to evaluate its sites in the Bahamas.

The £550,000 agreement will last at least three months and could lead to the pair teaming up to drill at Bahamas’ wells.

Shares rocketed 200pc, or 2.1p, to 3.15p.