Ascent Resources plc and its Slovenia subsidiary’s arbitration hearing over its claim against the Republic of Slovenia has concluded.
The hearing related to the International Centre for Settlement of Investment Disputes (ICSID) Energy Charter Treaty.
The company said that the private and confidential hearing addressed matters including the merits and quantum evaluations of the claim.
“The company remains highly confident in its claim which relates to the Republic of Slovenia’s expropriation of the full investment value of the company’s 75% interest in the Petišovci tight gas field,” added Ascent.
“It should be noted that pursuant to the shareholder distributions in Q1 2024 and February 2025, the company retains a 10% economic interest in the net proceeds to be received in the event of a positive claim outcome and receipt of a damages award.
“It should be cautioned that in the event of success any amount actually received by the company may be significantly lower than the full claim amount.”