Scandinavian Oil-Gas Magazine

http://www.scandoil.com/moxie-bm2/news/adx-energy-to-receive-15-million-from-gulfsands-pe.shtml

ADX Energy to receive $1.5 million from Gulfsands Petroleum

ADX Energy and Gulfsands Petroleum plc (GPX) have reached an agreement concerning the settlement of all claims and liabilities

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ADX Energy Ltd-2

ADX Energy and Gulfsands Petroleum plc (GPX) have reached an agreement concerning the settlement of all claims and liabilities between them.

GPX has agreed to pay ADX US$1.5 million and ADX has agreed to provide certain additional documentation by the end of February 2015. As a result of the settlement, the proceedings before the English High Court will be discontinued.

Tags: ADX Energy Ltd, Gulfsands Petroleum plc