Ascent Resources PLC (LSE:AST) has achieved a favorable ruling in its arbitration case against former Slovenian joint venture partner Geoenergo d.o.o. The tribunal awarded Ascent Slovenia Limited nearly €5 million plus accrued interest for unpaid revenues. However, the actual recovery of these funds hinges on the outcome of Geoenergo’s ongoing administration process, which may affect the total amount receivable.
In parallel, Ascent has been invited to mediation with Geoenergo’s administrator to address jurisdictional issues, while continuing legal disputes with Petrol Geo d.o.o. are expected to advance in the near term.
About Ascent Resources PLC
Ascent Resources is an energy company specializing in oil and gas exploration and production. It focuses on leveraging joint ventures and partnerships to develop and manage hydrocarbon assets efficiently, with a strategic presence in Central and Eastern Europe.
Leave a Reply