Bahamas Petroleum Company PLC (LON:BPC) shares rose 6.6% to 2.43p after a court rejected a request to halt drilling activities at the Perseverance #1 well.
Environmental activists opposed to the drilling had challenged the issue by the Government of The Bahamas of an environmental authorisation to the London-listed company, and after this latest knock-back have made a renewed application for judicial review in respect of the environmental authorisation. The Court advised that there would be an oral hearing of the renewed application today (Tuesday, 29/12/20).
The ruling of the court on Christmas Eve means that drilling of the Perseverance #1 well in The Bahamas, currently underway since December 20, has continued.
Bahamas Petroleum Company spuds well- Government joins in the action with company against environmentalists. https://t.co/Q52GQMW6ef
— CaribMagPlus (@MagCarib) December 25, 2020