Rockhopper Exploration plc said it had received €19 million of the €45m tranche I payment of the Ombrina Mare arbitration award. CASH BALANCE The balance of €26m goes to the original arbitration funder, while tranches II and III remain payable to Rockhopper upon a successful annulment outcome. The company’s legal representatives will receive success fees of […]
Legal
UKOG to comply with ‘perplexing’ Horse Hill ruling
UK Oil & Gas plc will submit a new plan or amend its existing one for Horse Hill oil production after yesterday’s ruling that end-use burning emissions must be included in the application. REGULATIONS The legal challenge was brought by Sarah Finch on behalf of the Weald Action Group (Finch et al) to Surrey County […]
Rockhopper due first Ombrina Mare payment
Rockhopper Exploration plc said it expected tranche I payment from its Ombrina Mare arbitration award within five business days. The compensation relates to Italy’s ban on oil and gas exploration within 12 miles of the Italian coastline, which affected the company’s activities in the oil field. Rockhopper subsequently went to tribunal at the International Centre […]
Ruling due on Karelian mine compensation
Karelian Diamond Resources plc expects an August court judgement over compensation and the boundary of its diamond mine development at Lahtojoki in Kuopio Kaavi, Finland. Two farmers previously appealed against money owed to them as well as the site boundary. Karelian said that following the court hearing on 21 May, the Finnish Land Court announced […]
Date set for WCM rolled up court hearing
West Cumbria Mining Ltd will have the deferred rolled up hearing in July in relation to its plans for a coking coal mine off the coast of Cumbria. The company said that the High Court had confirmed the date would be between 16 and 18 July. The hearing follows a challenge by two parties against […]
Ascent Slovenia operating agreement cancelled
Ascent Resources plc said its Slovenia partner’s administrator had terminated the restated joint operating agreement (RJOA) on the same date as the opening of its partner’s insolvency proceedings. PRECAUTION The termination is under default rules of Slovenian Obligations Code. The Petišovci onshore gas joint venture is between Ascent Slovenia Ltd (ASL) and Geoenergo d.o.o. which […]