SMP RNS11 Nov 2020 07:42
Following interactions with its French legal advisers, the Company has decided to continue vigorously pursuing the Claim to recover costs of approximately US$3.1 million. The possibility of increasing the Claim amount is also being explored in consideration of the commercial damages suffered by AAOG Congo as direct result of SMP's drilling performance.
The Company has consulted with its French legal advisers and, having evaluated the merits of the case and the significant potential compensation payment of at least US$3.1 million, intends to zealously pursue AAOG Congo's Claim. To this end, we plan to reach out to third party financing providers, specialised in legal cases such as these, in order to avoid any cash burden being incurred by the Company in pursuing the Claim going forward.
great move
that will really 'enhance' their chances of getting awarded the Tilapia licence
hey ho at least they are $36,000 richer than they were yesterday
no licence no likey :-)