LONDON (Alliance News) - US focused oil development and production company Nighthawk Energy PLC said that a claim has been removed from its on-going litigation with Running Foxes Petroleum Inc.
The claim that has been removed in relation to breach of contract. In regards to the second claim, Running Foxes claim for breach of implied covenant of good faith and fair dealing, the US District Court for Colorado intends to enter judgement in favour of Nighthawk Energy, it said.
However, the court has granted Running Foxes with 21 days to provide further evidence.
One further claim exists under the litigation, in relation to Running Foxes' claim of an overriding royalty interest on a lease. Nighthawk said it continues to believe the plaintiff has "no reasonable claim" and plans to "continue to defence the claim vigorously."
Nighthawk said it will make further information available at the "appropriate time."
Shares in Nighthawk Energy were up 3.2% at 1.32 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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