Update on Slovenia Disputes
Ascent Resources plc has provided an update on its legacy Slovenian claims, reporting that a Slovenian court fully rejected Geoenergo's challenge to the jurisdiction of an arbitration tribunal that ruled in favour of Ascent Slovenia Limited (ASL) for approximately €7.8 million in unpaid hydrocarbon production proceeds plus late interest. The court also noted no other creditor contests ASL's claim in the Geoenergo insolvency estate, with further court decisions expected soon regarding the recognition of the arbitral award and Geoenergo's lawsuit to invalidate it, though recovery remains subject to the administration process. Additionally, ASL continues to defend claims brought by Petrol Geo d.o.o. and is seeking an amicable resolution, while the company expects an award on the merits from the ICSID process this month.
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Ascent Resources Plc (LON: AST), the onshore US focused oil and gas company, is pleased to provide a short update on the Company's legacy Slovenian claims, where recent developments continue to reinforce Ascent Slovenia Limited's (ASL) position ahead of expected near‑term decisions.
Domestic Disputes
The Slovenian court has fully rejected Geoenergo's challenge to the jurisdiction of the domestic Arbitration Tribunal which found in ASL's (a wholly owned subsidiary of the Company) favour in relation to ASL's claim for approximately €7.8 million in unpaid hydrocarbon production proceeds plus late interest, as announced on 3 July 2025. The court also noted that no other creditor contests ASL's claim in the Geoenergo insolvency estate. Further court decisions are expected in the coming weeks/months (first in relation to Ascent's court filing for recognition of the arbitral award, and second on Geoenergo's lawsuit for the invalidation of the arbitral award). Recovery remains subject to the conclusion of the administration process.
Also as announced on 30 October 2025, ASL continues to defend claims brought by Petrol Geo d.o.o. against the Joint Venture and remains engaged in seeking an amicable resolution of both parties' respective claims.
Energy Charter Treaty Dispute
The Company is aware of no delays to the ICSID process and continues to expect the Tribunal's award on the merits this month. A further update will be provided in due course.
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