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

wind turbine in the sea
November 04 2016
Shares are up 13% this year, despite the negative effect of Brexit
Offshore oil operations, North Sea
September 29 2016
Jersey continues to “work actively” on a number of opportunities in the UK, which it expects will lead to the acquisition of producing oil and gas assets in the near future.
oil well drilling
December 15 2016
Drilling is due to start in the first quarter of 2017, but, the explorer is already preparing for success by snapping up more acreage in the area.

© Proactive Investors 2017

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.