Business
Cancellation of Ministry Order in Ukraine
Cancellation of Ministry Order in Ukraine.
About this update from Enwell Energy Plc
[{"type":"text","content":"\n \nRNS Number : 1271L Regal Petroleum PLC 26 July 2011 \n \n\nRegal Petroleum plc\n(\"Regal\" or the \"Company\")\n \n26 July 2011\n \nCANCELLATION OF MINISTRY ORDER IN UKRAINE\n \nRegal, the AIM-listed oil and gas exploration and production group (symbol: RPT), provides an update on its Ukrainian operations. \n \nAs previously announced, on 21 May 2010, the Company received an order, dated 30 March 2010, signed by the Minister of Environmental Protection identifying certain matters requiring rectification in relation to Regal's compliance with certain legislation in Ukraine relating to its operations at its Mekhediviska Golotvshinska (\"MEX-GOL\") and Svyrydivske (\"SV\") gas and condensate fields, and requiring a suspension of operations whilst such matters were rectified (the \"Ministry Order\"). \n \nOn 2 July 2010, the Company received notification of an injunction order made by the District Administrative Court of Kiev suspending the Ministry Order pending a further hearing of the action in the District Administrative Court of Kiev. This action, challenging the Ministry Order, was brought by OJSC Ukrzakordongeologia (the Company's sole gas customer under a long term gas offtake agreement) against the Ministry of Environmental Protection (the \"MEP\"). On 9 August 2010, the District Administrative Court of Kiev ruled that the Company should be substituted as the claimant in the action brought by OJSC Ukrzakordongeologia. On 11 October 2010, the District Administrative Court of Kiev found in favour of the MEP in the action. On 18 October 2010, the Company filed an appeal of this ruling and on 1 December 2010, the Administrative Court of Appeal in Kiev ruled in favour of the MEP. On 24 December 2010, the Company appealed the decision of the Administrative Court of Appeal but such appeal has not been heard by the Court.\n \nOn 7 July 2011, the Company filed new proceedings in the District Administrative Court of Kiev against the MEP and the State Geological Service of Ukraine in respect of the Ministry Order based on new circumstances. At the same time the Company made an interim application in the new proceedings seeking a suspension of the Ministry Order, and on 8 July 2011 the Court made a ruling on such interim application to grant a sus...