  We report results of a spectrophotometric study of SBS 1150+599A and discuss
the nature of this object based upon our data. Our study shows that SBS
1150+599A is most probably a planetary nebula located in the Galactic halo and
not a cataclysmic variable as originally proposed by the authors of the Second
Byurakan Survey from low resolution spectroscopy. We have further elaborated on
the properties of SBS 1150+599A (now becoming PN G135.9+55.9) with tools used
for planetary nebula analysis. Our photoionization models show that, in order
to match the observational constraints, the oxygen abundance in the nebula is
probably extremely low, around 1/500 solar, which is one order of magnitude
lower than the most oxygen-poor planetary nebulae known so far. This finding
has strong implications on our understanding of the formation of planetary
nebulae and of the evolution of the Galactic halo.
