Beer, several of these deepwater wells have been approved. Supposedly they are on hold (US leases), but the Canadian government hasn't responded. Chevron holds the leases in the Orphan Basin.

Natural Resources Minister Kathy Dunderdale (Newfoundland-Labrador) says "the provincial government is confident precautions to deal with a possible disaster are in place.
She said the Stena Carron, the rig Chevron has hired to drill in the Orphan Basin, is equipped with the tools to handle a crisis."
"They have an acoustic transponder to shut down the well, a remotely operated vehicle to operate the blowout protection stack, as well as two ram stacks in the well that have the capacity to shut it down," said Dunderdale.

CBC News.
Well, Beer, we can hope it is a dry hole.