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	[phone]
Oisin Fanning, Executive Chairman
Westhouse Securities Limited	[phone]
Richard Johnson Antonio Bossi
Macquarie Capital (Europe) Limited	[phone]
John Dwyer
Fox Davies Capital	[phone]
Susan Walker Daniel Fox-Davies
FirstEnergy Capital LLP	[phone]
Hugh R. Sanderson David Van Erp
College Hill Associates	[phone]
David Simonson Rupert Trefgarne Alexandra Roper

www.sanleonenergy.com

 

END

 

 

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