LONDON (Alliance News) - Shares in Oilex Ltd were again suspended from trading on Thursday as the company awaits availability of the full judgement from the High Court of Gujarat in India.
Oilex shares have been suspended several times in recent weeks as court proceedings have been scheduled and then postponed.
Oilex appeared in front of the High Court of Gujarat in India regarding the interim stay order issued by Gujarat State Petroleum Corp Ltd.
In late July, Oilex said it was seeking to exercise its option to force the withdrawal of its joint venture partner for its Cambay oil field in India. Oilex is looking to assume the interest of Gujarat State Petroleum Corp in Cambay, after it failed to pay its share of the expenses for the project.
In mid-August, Gujarat State Petroleum served the interim stay order in order to delay the transfer of its interest to Oilex.
