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ADX Energy to receive $1.5 million from Gulfsands Petroleum


Published Feb 5, 2015
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




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