Legal Proceedings Report • Oct 30, 2020
Legal Proceedings Report
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Extension of Senegal Arbitration Suspension
PetroNor E&P Limited
(“PetroNor” or the “Company”)
PetroNor (OSE ticker: “PNOR”), the independent oil and gas exploration and production company with a focus on production, development and exploration assets across sub-Saharan Africa, announces that, further to the announcement made on 5 May 2020 regarding a six month suspension to the Arbitration with Senegal, both parties have agreed to extend the suspension period by an additional 3 months. The extension is a result of ongoing discussions as well as delays to the process as a result of the global pandemic.
Commenting on the update, Eyas Alhomouz, Chairman of PetroNor E&P Limited, said:
“This extension allows both parties more time to progress dialogue and hopefully find a solution that is in the interest of Senegal and its people, as well as PetroNor and its shareholders. We will update the market when there are further developments.”
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For further information, please contact:
Knut Søvold, Chief Executive Officer
Chris Butler, Group Financial Controller
Media Contacts:
Buchanan
Ben Romney
Tel: +44 207 466 5000
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