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The ongoing conflict among Shiites, Sunnis, and the Government of Bahrain is formally investigated using the graph model for conflict resolution in order to gain strategic insights into how this festering dispute can be better understood and resolved. At the modeling stage, the Bahrain conflict is meaningfully described in terms of the three main decision makers (DMs), as well as each DM's options or courses of action it controls and relative preferences among the possible states or scenarios that could arise. Subsequently, at the analysis stage, a stability analysis is carried out to determine the stability of a state from each DM's viewpoint, according to different descriptions of behavior under conflict, as well as the equilibria or compromise resolutions. The findings indicate that although the present strife could continue unless the Government steps down, a compromise solution in which the Government institutes reform is possible.