(Alliance News) - Range Resources Ltd on Wednesday said it has ended legal action against Georgia following the termination on a production sharing agreement.
In June, Range said it would be seeking damages of USD21.9 million from the country, after Block VIA was cancelled. Range has been involved in the block since 2009, with "substantial" capital invested.
However, this has now been withdrawn, with Range giving no reason for the decision.
Shares were 13% lower on Wednesday morning in London at a price of 0.035 pence each.
By George Collard; georgecollard@alliancenews.com
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