Arbitration Update

RNS Number : 1420P

San Leon Energy PLC

16 February 2016

 

16 February 2016

San Leon Energy PLC

("San Leon" or "the Company")

Arbitration Update

San Leon Energy plc ("the Company" or "San Leon"), the AIM listed company focused on oil and gas exploration in Europe and North Africa, announces that certain of its subsidiaries, including Aurelian Oil & Gas Limited (together, "Aurelian") have been unsuccessful in their appeal against the findings of the International Court of Arbitration of the International Chamber of Commerce in relation to the arbitration between Aurelian and Avobone N.V. and Avobone Poland B.V..

Aurelian appealed the ICC findings to the UK Commercial Court in October 2015. The findings of the court, received by the Company on 4 February 2016 but not conclusive until 11 February, were that Aurelian's leave to appeal was dismissed.  Accordingly, the original award as detailed in the Company's announcement of 26 May 2015 stands.

San Leon is conferring with Counsel on its options, and will provide further updates in due course.

For further information contact:

San Leon Energy plc  Oisin Fanning, Executive Chairman Stockdale Securities Ltd Nominated Adviser Antonio Bossi Robert Finlay	[phone] [phone]
finnCap Ltd  Corporate Finance Matt Goode Christopher Raggett Corporate Broking Joanna Weaving	[phone]
Brandon Hill Capital Oliver Stansfield Jonathan Evans	[phone]
Macquarie Capital (Europe) Limited Jon Fitzpatrick	[phone]
Vigo Communications Financial Public Relations Chris McMahon Alexandra Roper	[phone]
Plunkett Public Relations Sharon Plunkett	[phone]

 www.sanleonenergy.com 

 

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