COASTAL CARIBBEAN OILS & MINERALS, LTD.
Supplement to Prospectus Dated April 15, 1996
This Supplement to Prospectus Dated April 15, 1996 describes certain
events that took place subsequent to the printing and distribution of the
Company's Prospectus regarding the sale of 6,672,726 shares of common stock par
value $.12 per share. This Supplement should be read in conjunction with the
information included in the Prospectus. This Supplement is not an offer; the
shares offered by the Company are offered only through the Prospectus as
supplemented hereby and only to shareholders of record at the close of business
on April 15, 1996.
Pages 30-31:
1. Coastal Petroleum Company v. State Department of Environmental
Protection (Case No. 95-03833, First District Court of Appeal). Drilling Permit
Litigation.
The First District Court of Appeal cancelled the oral argument
scheduled for May 22, 1996. On April 26, 1996, the Court granted Coastal
Petroleum's appeal and reversed the order of the Department of Environmental
Protection (the "Department"), which had denied Coastal Petroleum's application
for a drilling permit. The Department had denied the permit because the Board of
Trustees of the Internal Improvement Trust Fund (the "Trustees") had not
consented to the drilling. The Court's order granting the appeal will become
final unless the Department petitions the Florida Supreme Court to invoke
discretionary jurisdiction or seeks to invoke other procedures for review of the
decision.
Page 31-32:
2. Coastal Petroleum Company v. Lawton Chiles, (Case Nos. 95-02225 and
905-02628, First District Court of Appeal.) Drilling Permit Litigation.
On April 19, 1996, the Trustees filed a motion for a rehearing of the
April 4 decision and a motion to have the First District Court of Appeal certify
certain questions to the Florida Supreme Court. Those motions were denied on May
10. The Court's order granting the appeal will become final unless the Trustees
petition the Florida Supreme Court to invoke discretionary jurisdiction. On
April 4, 1996, the Court had granted Coastal Petroleum's appeals and set aside
the $500 million and $1.9 billion bond requirements.
May 15, 1996
