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BRIEF-Arbitration Tribunal Releases Decision In Respect Of Apco Austral Acquisition

Published 2018-12-13, 08:48 a/m
© Reuters.  BRIEF-Arbitration Tribunal Releases Decision In Respect Of Apco Austral Acquisition
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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

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