- Global Petroleum said Friday it had won two appeals against environmental approval of operations in the Southern Adriatic sea following a ruling from an Italian court.

The company, which is facing further appeals, said the rejection of the first two set 'an important precedent' for the tribunal court in Rome.

Environmental decrees for two applications were originally granted in October 2016, but 'various entities' appealed against them, the company said.

The appeals were scheduled to be heard in Rome on 23 October, but five of the appellants filed further grounds of appeal at the hearing itself, prompting the tribunal to defer those appeals until first-quarter 2019.

'We believe that the rejection by the Tribunal of the two appeals on which they have so far ruled is indicative of the lack of merit of the appeals made in connection with all four of our applications,' chief executive Peter Hill said.

'These two rulings represent a major step towards ultimate grant of permits to the company in what we consider to be a highly prospective area' At 8:43am: [LON:GBP] Global Petroleum Ltd share price was 0p at 1.95p

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