United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 27, 1997
Coastal Caribbean Oils & Minerals, Ltd.
(Exact name of registrant as specified in its charter)
Bermuda 1-4668 NONE
State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
Clarendon House, Church Street, Hamilton HM DX, BERMUDA NONE
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (441) 295-1422
(Former name or former address, if changed since last report.)
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FORM 8-K
COASTAL CARIBBEAN OILS & MINERALS, LTD.
Item 5. Other Events
On June 27, 1997, a judge of State of Florida, Division of
Administrative Hearings, denied a motion to relinquish jurisdiction to Florida's
Department of Environmental Protection for a hearing, scheduled on September 29,
1997, regarding Coastal Petroleum Company's drilling permit.
A press release relating to this development if filed herewith as an
exhibit and incorporated herein by reference.
Item 7 Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
(99) Additional Exhibits
(a) Press release of the registrant dated June 30,
1997.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
COASTAL CARIBBEAN OILS & MINERALS, LTD.
(Registrant)
By /s/ Benjamin W. Heath
Benjamin W. Heath
President
Date: July 1, 1997
EXHIBIT 99(a)
COASTAL PETE PERMIT
HEARING TO PROCEED
APALACHICOLA, FL, June 30, 1997 -- Coastal Petroleum Company said an
administrative law judge has denied a motion to relinquish jurisdiction to
Florida's Department of Environmental Protection, which would have delayed or
canceled a public hearing on Coastal's offshore drilling permit application.
The Company said Judge Mary Clark, who previously scheduled a hearing
to begin on September 29, had been asked to remand jurisdiction to the state
agency so it could implement a new law that seeks to impose an increased surety
bond requirement on Coastal.
In last Friday's ruling, Judge Clark held the surety process separate
from the permit process, and ordered that "discovery in the permit case should
proceed without abeyance."
A Coastal spokesman noted the Company's contention that the new surety
bond statute cannot be applied to Coastal's permits. He also pointed out that
Judge Clark's hearing will complete all administrative preconditions for the
issuance of a permit, which was applied for over five years ago.
Coastal is a majority-held subsidiary of Coastal Caribbean Oils &
Minerals, Ltd. (Boston: CCO-B; CCO-BN).
Contact: Phillip W. Ware, at (904) 653-2732
