This from Sean Quote .... It's quite understan
Post# of 39368
Posted On: 04/16/2013 3:31:13 PM
This from Sean
Quote ....
It's quite understandable. I was at lunch and I got news regarding the potential Belize issue about 30 minutes ago. The first thing I will say is that we have not received any official confirmation regarding these claims. We are still awaiting information from Princess Petroleum. However, the one thing that we are 100% on is that even if this ruling is confirmed, it has nothing to do with our on-shore concessionary operations.
The off-shore concession was also circumspect for any real drilling operations due to the high environmental damage that it would cause. If were to drill the costs would be exponentially higher than normal off shore operations. Needless to say though, if the rumors are confirmed as true, Princess will be appealing the decision. We were aware of the court case, but since it was considered a 3-5 year option for us, it doesn't hold any real impact in our current operations. If it is true though, Princess Petroleum will likely be filing an immediate appeal.
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