Ascent Resources plc and its Slovenia subsidiary’s arbitration hearing over its claim against the Republic of Slovenia has concluded. The hearing at the International Centre for Settlement of Investment Disputes (ICSID) is under the Energy Charter Treaty. The company said that the private and confidential hearing addressed matters including the merits and quantum evaluations of […]
Tag: Petišovci – Slovenia
Ascent issues one million shares for services
Ascent Resources plc has issued 1,149,058 new ordinary shares of 0.5 pence each in the company at an issue price of 2.3 pence for services to the company. A total 279,493 shares were issued to a former director employed in October and November 2024 and 869,565 to Optimo Research for services provided over the next […]
Ascent Slovenia operating agreement cancelled
Ascent Resources plc said its Slovenia partner’s administrator had terminated the restated joint operating agreement (RJOA) on the same date as the opening of its partner’s insolvency proceedings. PRECAUTION The termination is under default rules of Slovenian Obligations Code. The Petišovci onshore gas joint venture is between Ascent Slovenia Ltd (ASL) and Geoenergo d.o.o. which […]
Ascent Slovenia partner’s insolvency approved
Ascent Resources plc said that the high court has given final approval of its Slovenia joint venture partner Geoenergo d.o.o.’s insolvency. TENDER The company has stated it is owed approximately €8,000,000 of revenues which Geoenergo has already received. Ascent said it was still working to register Ascent Slovenia Ltd (ASL)’s claim in the insolvency proceedings […]
Ascent faces U-turn ruling on partner’s insolvency
Ascent Resources plc faces an “unprecendented situation” after its Slovenia joint venture partner Geoenergo d.o.o. received approval to enter insolvency. REDRESS Ascent previously sought legal advice to stop the move and said that the court had not accepted Geoenergo’s creditor position and not approved the self-declared insolvency application. A hearing had been due on 23 […]
Ascent Slovenia stops partner’s insolvency move
Ascent Resources plc has stopped its Slovenia joint venture partner, subject of an arbitration tribunal over funds owed, from entering self-declared insolvency. ABUSE In October 2023, the tribunal ruled Ascent’s entitlement to proceeds above the baseline production profile from all wells in the Petišovci onshore gas concession area. The company said its subsidiary Ascent Slovenia […]