Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : coastal caribbean (cco@) -- Ignore unavailable to you. Want to Upgrade?

To: Edwin S. Fujinaka who wrote (721)	3/23/1999 3:00:00 PM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 4686

May 12th date set for Appeals Court oral arguments. These are expected to be pretty short hearings and they will then proceed to deliberations which may take another month or maybe two. (Or maybe longer). Coastal wants the Appeals Court to follow the recommendation of the Administrative Judge (Mary Clark) who said that the drilling permit should be granted. Coastal would also like the $225 million bond recommendation to be reduced. "A Coastal spokesman also noted that the DEP's denial of 12 additional permit applications is being reviewed by an administrative law judge, with a ruling expected shortly." It may not matter what the administrative judge recommends, but I would expect that the DEP will be forced to follow the administrative judge's recommendation if the Appeals Court rules in CCO's favor on the St George Island drilling permit. The Company did not send the press release on the May 12th oral arguments before the Appeals Court to shareholders because it is considered to be a routine development. The press release was sent to the wire services and may be posted at the Web site (I haven't had a chance to look yet.)