In regard to court action - the obvious one is paragraph b of subsection 6 of section 22 of the Petroleum Onshore Act:
(6) Before cancelling a title on a ground referred to in subsection (1), or suspending operations under a title, the Minister:
(a) must cause written notice of the proposed cancellation or suspension, and of the grounds of the proposed cancellation or suspension, to be served on the holder of the title, and
(b) must give the holder of the title a reasonable opportunity to make representations with respect to the proposed cancellation or suspension, and
(c) must take any such representations into consideration.
In my opinion there was no reasonable opportunity given for MEL to make representations. The company clearly did not know about the planned suspension before 4:10 PM of the day before the announcement - which was alluded to before 7 AM the next day. I don't think it will take too much of an effort to argue that case - I just do not know how this interacts with subsection 22(5).
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Open | High | Low | Value | Volume |
0.6¢ | 0.6¢ | 0.6¢ | $550 | 100K |
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6 | 6291965 | 0.004 |
16 | 28089636 | 0.003 |
8 | 20620400 | 0.002 |
7 | 61603690 | 0.001 |
Price($) | Vol. | No. |
---|---|---|
0.006 | 8109365 | 3 |
0.007 | 1763852 | 4 |
0.009 | 330000 | 2 |
0.010 | 6117355 | 4 |
0.012 | 1000000 | 1 |
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