21st May 2019 11:11
LONDON (Alliance News) - Global Petroleum Ltd on Tuesday reported the rejection of a number of appeals against environmental permits granted in Italy.
A series of hearings took place between January and March over four applications, with two granted in October 2016 and the other two in August and September 2017.
Some 12 parties made appeals against the decrees, and Global Petroleum said the court in Rome has rejected all but one of the appeals, where judgement has not yet been handed down.
Global Petroleum expects the verdict over the last appeal to be the same as the previous 11.
Chief Executive Peter Hill said: "The latest rejection by the Tribunal of the vast majority of outstanding appeals vindicates our consistently held view that such appeals were entirely without merit."
"In the wider context, we observe with interest the developing opposition to the moratorium on exploration activity in Italy."
Shares were up 13% on Tuesday morning at a price of 1.55 pence each.
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