16th Feb 2016 07:00
16 February 2016
San Leon Energy PLC
("San Leon" or "the Company")
Arbitration Update
San Leon Energy plc ("the Company" or "San Leon"), the AIM listed company focused on oil and gas exploration in Europe and North Africa, announces that certain of its subsidiaries, including Aurelian Oil & Gas Limited (together, "Aurelian") have been unsuccessful in their appeal against the findings of the International Court of Arbitration of the International Chamber of Commerce in relation to the arbitration between Aurelian and Avobone N.V. and Avobone Poland B.V..
Aurelian appealed the ICC findings to the UK Commercial Court in October 2015. The findings of the court, received by the Company on 4 February 2016 but not conclusive until 11 February, were that Aurelian's leave to appeal was dismissed. Accordingly, the original award as detailed in the Company's announcement of 26 May 2015 stands.
San Leon is conferring with Counsel on its options, and will provide further updates in due course.
For further information contact:
San Leon Energy plc Oisin Fanning, Executive Chairman
Stockdale Securities Ltd Nominated Adviser Antonio Bossi Robert Finlay
| +353 1291 6292
+44 (0) 20 7601 6100 |
finnCap Ltd Corporate FinanceMatt Goode Christopher RaggettCorporate BrokingJoanna Weaving
| +44 (0) 20 7220 0500 |
Brandon Hill Capital Oliver StansfieldJonathan Evans
| +44 (0) 20 3463 5000 |
Macquarie Capital (Europe) LimitedJon Fitzpatrick | +44 (0) 20 3037 2000 |
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Vigo CommunicationsFinancial Public RelationsChris McMahon Alexandra Roper
| +44 (0) 20 7016 9572 |
Plunkett Public RelationsSharon Plunkett | +353 (0) 1 280 7873 |
www.sanleonenergy.com
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