Thursday, October 02, 2008
Victoria wins Kemerkol licence battle
02 October 2008 - Upstream OnLine - Victoria Oil & Gas has won court decisions in the UK and Canada relating to a rival claim to its Kemerkol licence in Kazakhstan. The rulings follow a claim bought against its regional subsidiary by the previous Kemerkol licensee and information received by the company that an application had been made to the Kazakh Ministry of Energy & Mineral Resources for permission to sell the licence. Victoria said the claim has no merit, and said it expects damages of at least £8.5 million ($15.2 million) for breach of warranties under the sale and purchase agreement it signed with the previous licensee.
# posted by Deval : 7:24 AM
Comments:
Victoia oil has to win this but if
they don,t i can see an awful lot of companys pulling out of russia
which would be damaging to the russian ecconomy but this form of
blatant coruption must be stopped
now, if russia wants continued investment from foreign companys.
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they don,t i can see an awful lot of companys pulling out of russia
which would be damaging to the russian ecconomy but this form of
blatant coruption must be stopped
now, if russia wants continued investment from foreign companys.
# posted by 
: 3:31 AM
: 3:31 AMContact me:
