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Dana Gas has made a clear statement regarding the settlement of the arbitration case with RWE in a disclosure to ADX on the 30th November 2015.

In that disclosure DG informed the market “of its reaching an amicable and mutually beneficial settlement agreement with RWEST to address all claims and bring the arbitration to a close” and further that, “as part of the settlement, RWEST Middle East has also joined the Pearl Petroleum consortium as a full partner for 10%.”

Any monetary amounts referred to by third parties and set out in the Enquiry are speculative as the settlement is and remains confidential to the parties.

The financial impact of the settlement will be disclosed in the next Quarterly Financial Report as required under the Listed Company Disclosure Obligations of the ADX.

 

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198Clarification On RWEST Arbitration

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