Rockhopper Exploration plc could be in line for €31 million from its insurance policy relating to the Ombrina Mare arbitration. TRIGGER The dispute followed the Italian Government’s ban on oil and gas exploration within 12 miles of the country’s coastline, which affected the company’s activities in the oil field. Rockhopper took out insurance in October […]
Legal
Ascent wins €5m in Slovenia arbitration
Ascent Resources plc has a won a further €4,990,976, plus interest since 19 January 2024, in an arbitration ruling against its former Slovenian joint venture partner Geoenergo d.o.o. PETROL GEO The sum is in addition to the €2,890,519.17 already accepted by Geoenergo’s administrator and approved by the relevant insolvency court. Proceedings relate to Ascent’s subsidiary’s […]
Serica extends OFAC licence for Rhum
Serica Energy plc has secured a two-year extension to its OFAC licence and secondary sanctions assurance relating to the Rhum field in the UK Northern North Sea. BENEFIT The licence and assurance permit certain US and US-owned or controlled entities, and all non-US entities, to continue providing goods, services and support to the field. Issued […]
Red Rock pursues DRC arbitration
Red Rock Resources plc said it remained on course with its arbitration proceedings in the Democratic Republic of Congo, despite conflict and demonstrations. PARTNERS Chairman Andrew Bell added: “Inevitably the invasion in the east of the country has been a distraction and caused delay, including days when offices were shut and flights cancelled. “By maintaining […]
Tullow ruled exempt from $320m tax
Tullow Oil plc said it was not liable to pay $320 million tax on its offshore Ghana petroleum agreements following today’s ruling from the International Chamber of Commerce. FOCUS The amount relates to the branch profit remittance tax (BPRT) under the Deepwater Tano and West Cape Three Points petroleum agreements, which include the Jubilee and […]
Dalradian poised for public inquiries
Dalradian Gold Ltd is nearing conjoined public inquiries over the next three months for its exploration and mining plans at Greencastle in the Sperrin Mountains, County Tyrone. DECISIONS The Planning Appeals Commission (PAC) deferred its hearing, due to start in September 2024, following the Water Appeals Commission’s concerns over applications relating to water abstraction and […]