Statement re Request for Arbitration

RNS Number : 2471C
San Leon Energy PLC
12 April 2013
 



12 April 2013

San Leon Energy plc

("San Leon" or "the Company")

 

Statement re Request for Arbitration

San Leon announces that, on 11 April 2013, it received notice from the Secretariat of the International Court of Arbitration of the International Chamber of Commerce ('ICC') confirming the submission of a Request for Arbitration ('Request') submitted by Avobone N.V. and Avobone Poland B.V. (together, 'Avobone') in relation to the purchase by Aurelian Oil & Gas, San Leon's subsidiary, of Avobone's 10% shares and loans in Energia Zachód Sp. z o.o. - the titleholder of the Siekierki asset.

San Leon has reviewed the Request with counsel and believes that the claims are substantially without merit.  San Leon is contesting these claims robustly.

The Company believes that the claims will not have any impact on its on-going operations.

 

Enquiries:

San Leon Energy plc

+353 1291 6292

Oisin Fanning, Executive Chairman




Westhouse Securities Limited

+44 (0) 20 7601 6100

Richard Johnson

Antonio Bossi




Macquarie Capital (Europe) Limited

+44 (0) 20 3037 2000

John Dwyer




Fox Davies Capital

+44 (0) 20 3463 5000

Susan Walker

Daniel Fox-Davies




FirstEnergy Capital LLP

+44 (0) 20 7448 0200

Hugh R. Sanderson

David Van Erp




College Hill Associates

+44 (0) 20 7457 2020

David Simonson

Rupert Trefgarne

Alexandra Roper


 

 

www.sanleonenergy.com

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCBLLFFXZFXBBK
UK 100