Bounty Oil & Gas NL (AU:BUY) has released an update.
BPH Energy and Bounty Oil & Gas NL have initiated legal proceedings against the Commonwealth-New South Wales Offshore Petroleum Joint Authority for delays in decision-making on applications related to the PEP11 Permit. The joint venture partners are seeking a court order for the Joint Authority to expedite the processing of their pending applications, which have remained undetermined for over four years. This legal action follows previous court decisions and ongoing communication with the National Offshore Petroleum Titles Administrator (NOPTA).
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