Business
Kenya Update
Kenya Update.
About this update from Geo Exploration Limited
[{"type":"text","content":"\n RNS Number : 4492K Global Petroleum Ltd 20 April 2010 \n \n\n\n20 April 2010\nRNS AIM release\n \nKENYA JOINT VENTURE - UPDATE OF LEGAL PROCEEDINGS\n \nAs previously advised, Global Petroleum Limited (\"Global\") and joint venture partner Dana Petroleum (E&P) Limited (\"Dana\") had commenced legal proceedings in the English High Court of Justice against Woodside Energy (Kenya) Pty Limited (\"Woodside\") as a result of Woodside's decision not to drill a second exploratory well in the project area, offshore Kenya. \n \nThe parties have reached a mutual agreement to withdraw from legal proceedings, with a lump sum payment of US$12 million (approximately A$12.98 million) to be received by Dana and Global jointly, apportioned on a 50/50 basis. \n \n \n \n \nEnquiries:\n \n\n\n\n\nGlobal Petroleum Limited\n\n\n\n\nShane Cranswick\n\n\nTel\n\n\n+ 61 8 9322 6322\n\n\n\n\n\n\n\nEmail\n\n\[email protected]\n\n\n\n\nAstaire Securities Plc (Nominated Adviser and Broker)\n\n\n\n\nWilliam Vandyk\n\n\nTel\n\n\n+44 20 7448 4400\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END JVEKKKDNABKKBQB \n ","length":3369,"tagName":"div"}]