Centric Energy Corp.: Update on Kenya Block 10BA
28 Oktober 2010 - 3:30PM
Marketwired
Centric Energy Corp. ("Centric Energy" or "the Company") (TSX
VENTURE: CTE) provides an update on the Kenyan Court proceedings
announced in its news release dated September 28th, 2010.
The proceedings concern a judicial review application filed
against the Kenyan Ministry of Energy relating to six exploration
permits granted by the Ministry, including the Company's PSC
covering Block 10BA.
The hearing was held at the High Court in Kitale, Kenya, on
October 27th, as scheduled. During the hearing the plaintiff,
Interstate Petroleum Ltd. ("IPL") (a private Kenyan company)
requested additional time to respond to the replying affidavits
that had been filed previously by the interested parties, including
the Company. The Court has therefore fixed a firm deadline for IPL
to respond and has scheduled a new hearing on November 16th,
2010.
The Ministry of Energy has advised the Company that it can carry
on with its work program and that its PSC remains in good
standing.
Alec Robinson, Centric Energy President & CEO, stated: "A
deferral had been anticipated and we are pleased that a strict
timeline has been specified by the Court and a firm date set for
the next hearing. Centric Energy believes that there is no basis
for the claims that IPL is making against the Permanent Secretary,
Ministry of Energy. We understand that both the Permanent Secretary
and the Ministry of Energy share our view in that regard. The
Company continues to work closely with all interested parties to
ensure that our interest in the Block is safeguarded, and to
expedite resolution of this case."
ON BEHALF OF CENTRIC ENERGY CORP.
Alec Robinson, President and Chief Executive Officer
This News Release does not constitute an offer to sell or a
solicitation of an offer to sell any securities in the United
States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to a U.S. Person unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Centric Energy Corp. Alec E. Robinson Toll Free: +1
(800) 962-7189 or +44 207 222 8512 www.centricenergy.com
Centric Energy Corp. (TSXV:CTE)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Centric Energy Corp. (TSXV:CTE)
Historical Stock Chart
Von Jun 2023 bis Jun 2024
Echtzeit-Nachrichten über Centric Energy Corp. (TSX Venture Börse): 0 Nachrichtenartikel
Weitere Centric Energy Corp. News-Artikel