(Alliance News) - Bahamas Petroleum Co Ltd on Thursday noted that a hearing of the Supreme Court of the Bahamas concerning a review of the decision by the Bahamas government to allow the company to drill the Perseverance-1 well was held on Wednesday.
Oral arguments were heard, and then the court reserved judgement, however, there was no indication of a date for when any further ruling would be provided.
On Tuesday, Bahamas Petroleum had said drilling of the Perseverance-1 well would continue 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.
However, Bahamas Petroleum noted on Tuesday that "the lawyer acting for the environmental groups indicated that they would renew their application for leave following the refusal".
Shares in Bahamas Petroleum were down 1.2% at 2.25 pence on Thursday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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