Update on LandOcean Arbitration Proceedings

RNS Number : 0795N

Star Phoenix Group Ltd

27 May 2022

 

27 May 2022

Star Phoenix Group Ltd

("Star Phoenix" or the "Company")

UPDATE ON ARBITRATION PROCEEDINGS AGAINST LANDOCEAN - STAGE 1 CLAIMS

Star Phoenix (AIM: STA), an international company with an oilfield services business in Trinidad and an oil and gas interest in Indonesia, is pleased to provide an update on the final hearing of arbitration proceedings against LandOcean Energy Services Co., Ltd and its affiliates ("LandOcean") since previous announcements dated 7 September 2021, 14 July 2021 and 6 May 2022 ("Stage 1 Claims").

As announced on 6 May 2022, a final hearing in relation to the Stage 1 Claims was scheduled by the Tribunal to be held on 30 May 2022. LandOcean has however applied to postpone the final hearing which accordingly will be re-scheduled to a yet to be determined date.

The Company will provide an update in due course.

This announcement has been approved by Chairman Kerry Gu on behalf of the Company.

Contact Details
Star Phoenix Group Ltd Lubing Liu (Company Secretary) e. [e-mail] t.   [phone]	WH Ireland Limited (Nominated Adviser and Broker) James Joyce / Ben Good t.   [phone]

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

END

 

 

MSCUBOWRUKUVURR