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Ascent Provides Update on Slovenia Notice of Dispute

Source: www.gulfoilandgas.com 10/22/2020, Location: Europe

Ascent Resources Plc, the onshore Caribbean, Hispanic American and European natural resources company is pleased to provide an update on the previously announced disputes with the Government of the Republic of Slovenia under the UK - Slovenia bilateral investment treaty ('BIT') and the Energy Charter Treaty ('ECT').

Further to the Notice of Dispute submitted on 23rd July 2020 the Company now confirms that it is entering into direct negotiations with the Republic of Slovenia, with a view to potentially settling the claim in an amicable manner in the short term. All such negotiations will be carried out on a strictly confidential, without prejudice and privileged basis.

The Company further confirms the aforementioned negotiations with the Government of the Republic of Slovenia shall not prejudice the Company's rights to pursue its investment treaty claim under the BIT and ECT.

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