Brief: Arbitration Tribunal Releases Decision In Respect Of Apco Austral Acquisition

Crown Point Energy

13/12/2018 13:48

Dec 13 (Reuters) - Crown Point Energy Inc  CWV.V :
    * ARBITRATION TRIBUNAL RELEASES DECISION IN RESPECT OF APCO
AUSTRAL ACQUISITION
    * CROWN POINT ENERGY - TRIBUNAL DETERMINED ACQUISITION
INVOLVED
INDIRECT TRANSFER OF APCO AUSTRAL'S PARTICIPATING INTEREST IN
TDF CONCESSIONS
    * CROWN POINT ENERGY - TRIBUNAL DETERMINED APCO AUSTRAL AND
PLUSPETROL FAILED TO PROPERLY COMPLY WITH PROCEDURES SET OUT IN
UTE AGREEMENT
    * CROWN POINT ENERGY -  TRIBUNAL CONCLUDED ROCH WAS NOT
REQUIRED
TO RESPOND TO ROFR NOTICE PROVIDED BY APCO AUSTRAL, PLUSPETROL
BY APPLICABLE DEADLINE
    * CROWN POINT ENERGY INC -  TRIBUNAL ORDERED APCO AUSTRAL
AND
PLUSPETROL TO COMPLY WITH PROVISIONS OF UTE AGREEMENT
    * CROWN POINT ENERGY INC - APCO AUSTRAL AND PLUSPETROL ARE
REQUIRED TO COMMENCE ROFR PROCESS BY JANUARY 18, 2019
    * CROWN POINT ENERGY INC -  REVIEWING ARBITRAL AWARD TO,
AMONG
OTHER THINGS, ASSESS ALTERNATIVES AVAILABLE TO APCO AUSTRAL

Source text for Eikon:  ID:nGNX2NrpxP 
Further company coverage:  CWV.V