just wished people knew what these prices really mean when they look back in less than 12 months time! but they simply don't excellent chance which I don't think would ever be repeated, some people don't understand what that RNS means!! :-) believe me! Keep it up mate, all be fine GL
the RNS refers to "arbitration"... so only haggling over the value of 10% of the field.... no reason to push the share down 5%.....the Siekierki field is 90% owned by Aurilean and 10% by Avabone , so Arbitration will put some value on it, effectively you could interpret that as good news......!!!
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
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.