Bahamas Petroleum Co PLC - Caribbean and Atlantic margin focused oil and gas company - Drilling of Perseverance #1 well in Bahamas continues after application for leave to apply for a judicial review, brought against the government of the Bahamas over the issue of environmental authorisation for the well, was denied. Application was refused 'on the papers' by the Supreme Court of the Bahamas, meaning based only on written materials with no oral submissions by any parties. Court also refuses applicants' request for a halt to Bahamas Petroleum's drilling activities. Bahamas Petroleum request to be added as interested party is adjourned and will be addressed on January 6 court hearing. Applicants' application for judicial review of more recent government decisions is also adjourned. "The lawyer acting for the environmental groups indicated that they would renew their application for leave following the refusal," Bahamas Petroleum adds.
Current stock price: 2.30 pence
Year-to-date change: up 15%
By Anna Farley; annafarley@alliancenews.com
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