Ascent Resources plc’s has revised its preliminary damages claim to more than €500 million [£422m] over oil and gas interests against the Republic of Slovenia. PETIŠOVCI The figure is included in the formal submission by the company and its subsidiary Ascent Slovenia Ltd, referred to as the investors, of their dispute with Slovenia to arbitration. […]
Legal
UKOG could face further appeal against Horse Hill
UK Oil & Gas plc (UKOG) said it could face an appeal in the Supreme Court against the company’s grant for oil production at Horse Hill near Gatwick in Surrey. HEARING The company added that it would “strongly contest” any further action against its interests which total 85.635%. Alba Mineral Resources plc holds an 11.765% […]
Ascent Slovenia receives first payment of €650,560
Ascent Resources plc said it had received the first cash payment following the agreement on recognition of revenue at its joint venture (JV) onshore gas operations in Slovenia. REVENUES On 2 August the company and its local JV partner agreed Ascent’s entitlement to 90% of the hydrocarbon production revenues from the PG-10 and PG-11A wells […]
Ascent to receive €1.68m in Slovenia dispute
Ascent Resources plc said it expected to receive €1.68 million hydrocarbon revenues covering 26 months’ operations from its joint venture (JV) within the Petisovci concession area in Slovenia. WELLS PG-10 & PG-11A Ascent holds a 75% interest in the Petišovci project and its JV partner Geoenergo holds the remaining 25%. The revenues are from the […]
Ascent JV initiates mediation process in Slovenia
Ascent Resources plc today said that it and its local joint venture (JV) partner, Geoenergo, had agreed to initiate the dispute resolution mechanism in their contract and initiated the mediation process in Slovenia. The company added that a Court of Appeal, High Court Ljubljana judge had now been appointed as the mediator between the joint […]
Predator starts litigation over terminated CO2 EOR project
Predator Oil & Gas Holdings plc said it had started a litigation process over the £591,065 FRAM loan for its Inniss-Trinity carbon dioxide enhanced oil recovery (CO2 EOR) project in Trinidad. FRAM The company signed an agreement with FRAM Exploration Trinidad Ltd which is a wholly owned subsidiary of Challenger Energy Group plc. Predator added that […]