ADX Energy to receive $1.5 million from Gulfsands Petroleum (Scandinavian Oil-Gas Magazine)

ADX Energy to receive $1.5 million from Gulfsands Petroleum

Published Feb 5, 2015

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

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