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 29, 1998
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 29, 1998, Coastal Petroleum Company said the U.S. Supreme Court
has declined to review a Florida appellate court ruling against the Company in
its royalty interest claim against the State.
A press release relating to this development is 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 29, 1998.
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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: June 29, 1998
U.S. SUPREME COURT
WILL NOT HEAR COASTAL'S
ROYALTY INTEREST CASE
APALACHICOLA, FL, June 29, 1998 - Coastal Petroleum Company said the
U.S. Supreme Court has declined to review a Florida appellate court ruling
against the Company in its royalty interest claim against the State.
The suit, initiated eight years ago, had sought compensation from the
State for its expropriation of Coastal's royalty interests in any petroleum or
minerals that might be found on 2.5 million tidal acres along the Gulf Coast.
Florida First District Court of Appeal ruled against Coastal ten months
ago, and the Florida Supreme Court declined to review that ruling last January,
the Company said.
Coastal Petroleum Company is a majority-held subsidiary of Coastal
Caribbean Oils & Minerals, Ltd. (Boston: CCO-B; CCO-BN).
Contact: Phillip W. Ware, at (850) 653-2732
