Ascent Resources plc has secured after the event (ATE) insurance in relation to the €656.5 million Energy Charter Treaty damages claim over gas exploration against the Republic of Slovenia. PRE-EMPTIVE ACTION The company began its action after delays to and a dispute over the joint venture project within the Petišovci concession area. An ATE insurance […]
Tag: hydraulic fracturing
Ascent files claim memorial and €657m damages against Slovenia
Ascent Resources plc has formally filed its claim memorial and increase in damages to €656.5 million over its onshore gas interests against the Republic of Slovenia. HYDRAULIC FRACTURING Legal action began after the company claimed treaty breaches and that the country’s new laws banning the use of hydraulic fracturing affected the company’s operations within the […]
IGas Energy seeks near-term projects
IGas Energy plc aims to seek near-term profitable production projects and has abandoned plans to take legal action against the Government following last year’s reimposed moratorium on hydraulic fracturing. SHALE GAS The company said its portfolio of shale licences totalled 292,100 net acres with estimated mean volumes of undiscovered GIIP of 93 tcf. In its […]
IGas mulls legal action on hydraulic fracturing ban
IGas plc today said it reserved the right to pursue legal action to recover losses from its onshore gas licences following the Government’s decision to reimpose the ban on hydraulic fracturing. GAINSBOROUGH TROUGH The company was responding to the Prime Minister‘s decision yesterday to re-impose the moratorium on hydraulic fracturing and a statement by the […]
Moratorium remains on hydraulic fracturing in England
The moratorium on hydraulic fracturing in England will remain in place, the new prime minister said today. FIRST BAN The Government first introduced the ban in November 2019 following reported earthquakes at Cuadrilla Resources’s shale gas extraction site in Preston, Lancashire. In April 2022 the Government ordered a scientific review on whether the extraction of […]
Cuadrilla Resources in line for £11m to extract shale gas in Lancashire
Cuadrilla Resources plc’s owner said that its recent AUS$19.7 million (£11.5m) fundraise may be used on the shale gas extraction project in Lancashire. REGULATORY CHANGES A statement from Australian owner AJ Lucas Group Ltd yesterday reported completion of the “heavily oversubscribed” placement of 179.4 million shares each at $0.11, a discount of 29%. “Proceeds raised […]