RE: very annoying....4 Dec 2018 12:08
Flightmann - RNS 19.11.18;
Oilex Ltd (Oilex or the Company) advises that it has received notice from the Singapore International Arbitration Centre (SAIC) that Gujarat State Petroleum Corporation (GSPC) has invoked the dispute resolution provisions of the Cambay Joint Operating Agreement (JOA).
Thus arbitration has been started imo, albeit they will try find a resolution. IMO they will aim to settle before the hearing, or it will be simply ratified at the hearing, dependent on the legal terms and prerequisites within the JOA