Trial over Malta Dispute to Deliver Judgment Thursday

Mediterranean Oil & Gas announced Wednesday that the Commercial Court in London has confirmed that judgment will be handed down in the legal case brought against it by fellow junior explorer Leni Gas & Oil on Thursday, March 27.

The two companies went to trial this month over a deal arranged in the summer of 2012 that saw Leni sell its 10-percent stake in the Area 4 PSC to MOG for a dollar. Weeks later MOG struck another deal with independent oil and gas firm Genel Energy that saw Genel pay $10 million to take a 75-percent interest in the PSC.

Leni has argued that had it known that the Genel transaction was about to take place it might have taken a different view as the value of its 10-percent interest in the PSC before selling it to MOG. MOG has always stated that it is confident that it faces no liability regarding the transactions.


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.