Princess Petroleum Agreement Declared Null and Void
I have just been advised by a reliable and well respected Belizean source, that minutes ago Belize Court Justice Llegal declared that six production sharing agreements (offshore oil contracts - including that held by Princess Petroleum) are unlawful, null and void in that they were awarded without competitive bidding, the companies were unqualified, they were in breach of the Fisheries Act, the National Parks System Act and moreover the companies failed to comply with the erroneous contract.
I am not sure where that leaves Treaty's onshore exploration activity on the Princess Concession - ask Treaty PR.
Sorry to be the bearer of bad news but I think you should be among the first to know.
