UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) MAY 21, 2002
COASTAL CARIBBEAN OILS & MINERALS, LTD.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
BERMUDA 1-4668 NONE
(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
CLARENDON HOUSE, CHURCH STREET, HAMILTON HM DX, BERMUDA NONE
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (441) 295-1422
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT.)
FORM 8-K
COASTAL CARIBBEAN OILS & MINERALS, LTD.
ITEM 5. OTHER EVENTS
On May 21, 2001, Coastal Petroleum Company filed a lawsuit against the
State of Florida seeking compensation for the State's taking of its property
rights to explore for oil and gas within its state lease 224-A in the Gulf of
Mexico. A copy of Coastal Petroleum's complaint is filed herewith as Exhibit
99.2 and incorporated herein by reference.
A Coastal Petroleum Company press release relating to the above
development is filed herewith as Exhibit 99.1 and incorporated herein by
reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits
(99) Additional Exhibits
99.1 Press release dated May 21, 2002.
99.2 Complaint filed May 21, 2002 in the Leon County
Circuit Court, Coastal Petroleum Company, Plaintiff vs. State of Florida,
Department of Environmental Protection, and Board of Trustees of the Internal
Improvement Fund, Defendants.
FORM 8-K
COASTAL CARIBBEAN OILS & MINERALS, LTD.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
COASTAL CARIBBEAN OILS & MINERALS, LTD.
(REGISTRANT)
BY /S/ BENJAMIN W. HEATH
--------------------------------
BENJAMIN W. HEATH
PRESIDENT
DATE: MAY 22, 2002