Ascent Resources Concludes ICSID Energy Charter Treaty Arbitration Hearing Against Slovenia
Why we think this is neutral
This RNS announcement provides a general update on the conclusion of an arbitration hearing, but does not contain any of the mandatory news types specified (contract news, order news, trading update, financing, funding, annual results, asset sale/disposal, flow testing, licence news, or delisting). As such, a neutral sentiment score is appropriate.
Key Points
- Ascent Resources Plc concluded an arbitration hearing related to its ICSID Energy Charter Treaty claim against the Republic of Slovenia
- The hearing addressed the merits and quantum evaluations of the claim
- Ascent remains highly confident in its claim, which relates to the expropriation of its 75% interest in the Petišovci tight gas field
- Any substantive decisions or further updates will be announced as required
Summary
Ascent Resources Plc (LON: AST) has announced the conclusion of an arbitration hearing in relation to its International Centre for Settlement of Investment Disputes (ICSID) Energy Charter Treaty (ECT) claim against the Republic of Slovenia. The hearing was held from 7 to 11 April in Paris, and addressed the merits and quantum evaluations of the claim. The company remains highly confident in its claim, which relates to the expropriation of its 75% interest in the Petišovci tight gas field. Any substantive decisions by the Tribunal or further updates will be announced as required.