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.
Copyright © 2015.Dana Gas PJSC. All rights reserved.