Business
Global Wins Further Appeals
Global Wins Further Appeals.
About this update from Geo Exploration Limited
[{"type":"text","content":"\n \nRNS Number : 6091Z Global Petroleum Ltd 21 May 2019 \n\n21 May 2019\n \n \nGlobal Petroleum Limited\n(\"Global\" or \"the Company\")\n \nGlobal Wins Further Appeals Against Environmental Decrees in Italy\n \nFurther to the Announcement made by the Company in December 2018, Global Petroleum Limited (AIM: GBP, ASX: GBP) is pleased to announce that the Administrative Tribunal in Rome has recently rejected appeals made by a further four parties against the Environmental Decrees for the Company's applications in the Southern Adriatic.\n \nBackground\n \nThe Environmental Decrees for the Company's two applications designated d82 F.R-GP and d83 F.R-GP were originally granted in October 2016 ('2016 Decrees'). \n \nThe Environmental Decrees for the two applications designated d80 F.R-GP and d81 F.R-GP were issued in August and September 2017 respectively ('2017 Decrees'). \n \nBoth the 2016 Decrees and the 2017 Decrees were the subject of appeals by a number of parties, in respect of which the latest Hearings took place in January and March 2019 respectively. \n \nA total of twelve appellants made appeals against the 2016 Decrees and/or the 2017 Decrees, and all but one of such appeals have now been rejected. Judgement is awaited in respect of the appeal by the town of Trani in relation to the 2016 Decrees and the Company expects such judgement to be consistent with those already received.\n \nThe broader perspective is of course the moratorium imposed by the Italian Government earlier this year on all hydrocarbon exploration activities - including permit applications - for a period of 18 months (Company Announcement of 15 February 2019). \n \nThe detailed status of all appeals is set out below. \n \nGlobal CEO, Peter Hill, commented: \"The latest rejection by the Tribunal of the vast majority of outstanding appeals vindicates our consistently held view that such appeals were entirely without merit. In the wider context, we observe with interest the developing opposition to the moratorium on exploration activity in Italy\".\n \n \n \n \nFor further information, please visit http://www.globalpetroleum.com.au/ or contact:\n \n\n\n\n\nGlobal Petroleum Limited\n\n\n \n\n\n\n\nPeter Hill, Managing Director & CEO\n\n...