The scheduled court hearing to review the Kenyan government's peremptory termination of two licences granted to Red Rock Resources (LON:RRR) proved a non-event.
The representatives of the government had not filed all of the documentation required by the court and so they asked for, and were granted, extra time to comply with the Court's directions.
A new hearing is scheduled for 27th January, 2016.
“The company continues to feel confident in the strength of its case, and regrets the inordinate delays caused by the continuing failure to challenge its application,” said Andrew Bell, chairman of Red Rock.
In May this year, Red Rock's interests were thrown into doubt as it revealed its part-owned associate Mid Migori Mining (MMM) had been advised that licences 122 and 202 have been terminated.
On a happier note, the company's option agreement to take a 20% working interest at two wells at the Shoats Creek field in Louisiana is at the stage where the company is awaiting the final documentation for the transaction.
"Final details surrounding the option agreement at Shoat's Creek remain in progress with completion considered imminent. The company remains in discussions with parties related to the project regarding additional opportunities in the region and looks forward to the start of work on the two wells currently agreed in order to complete the transition of the company to a revenue-generating oil producer,” Bell said.
Shares in Red Rock were up 4% at 0.0208p in late afternoon trading.