Circuit Court Denies State's Motions to Dismiss Coastal's Claim

Apr 27, 2001, 01:00 ET from Coastal Petroleum Company

    TALLAHASSEE, Fla., April 27 /PRNewswire/ -- Coastal Petroleum Company said
 Florida's Leon County Circuit Court has denied the State's motions to dismiss
 the company's inverse condemnation claim against the State.
     The company said its claim, filed on Jan. 16, seeks fair-market
 compensation from the State for its de facto confiscation of Coastal's
 440,000-acre leasehold along the Gulf Coast.
     Coastal Petroleum Company is a majority-held subsidiary of Coastal
 Caribbean Oils & Minerals, Ltd. (Boston: CCO-B or CCO-BN).
 
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SOURCE Coastal Petroleum Company
    TALLAHASSEE, Fla., April 27 /PRNewswire/ -- Coastal Petroleum Company said
 Florida's Leon County Circuit Court has denied the State's motions to dismiss
 the company's inverse condemnation claim against the State.
     The company said its claim, filed on Jan. 16, seeks fair-market
 compensation from the State for its de facto confiscation of Coastal's
 440,000-acre leasehold along the Gulf Coast.
     Coastal Petroleum Company is a majority-held subsidiary of Coastal
 Caribbean Oils & Minerals, Ltd. (Boston: CCO-B or CCO-BN).
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X16534958
 
 SOURCE  Coastal Petroleum Company