Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

San Leon loses appeal over Siekierki award

San Leon lodged an objection to the £13mln award to the UK Commercial Court in October.
San Leon loses appeal over Siekierki award
San Leon is conferring with counsel on its options.

San Leon Energy (LON:SLE) has lost its appeal in its dispute with Avobone over assets in Poland.

In May last year, the International Chamber of Commerce ruled San Leon subsidiary Aurelian had to pay £13mln to Avobone, its former partner, related to the prospect at Siekierki.

Aurelian lodged an appeal against the ICC findings to the UK Commercial Court in October.

The findings of the court were that Aurelian's leave to appeal was dismissed. 

Accordingly, the original award stands. San Leon is conferring with counsel on its options.

PhilW.jpg
Why Invest In SAN LEON ENERGY PLC? Read More Here

Register here to be notified of future SLE Company articles
View full SLE profile

SAN LEON ENERGY PLC Timeline

Related Articles

oil workers
November 25 2016
Field development, exploration and even acquisitions could drive SDX Energy's growth through 2017.
Picture of palm oil kernels, from which crude palm oil is produced
May 19 2016
Tomco says the palm oil opportunity has low capex costs and potential for cash flows starting in mid-2017.
Offshore oil operations, North Sea
August 18 2016
Premier Oil told investors it now expects to produce between 68,000 to 73,000 barrels oil equivalent per day in 2016.

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.