| CATEGORY: AIM BULLETIN SECTOR: OIL & GAS PRODUCERS |
Wed 04 Jul 2012
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 | | LONDON (SHARECAST) - Ithaca Energy said it had won its court battle over who should pay costs of drilling at its Jacky J03 well in the North Sea.
The Commercial Court of the High Court backed Ithaca's position in concluding that the well was drilled as a "Joint Operation" with North Sea Energy (NSE).
This means NSE is obliged to contribute to the well costs in accordance with its 10% field equity.
Ithaca said that NSE had not requested leave to appeal the judgment and had been ordered to pay its legal costs of the proceedings.
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