Green Dragon Gas Ltd. announces that the Company's application to set aside the Award, previously announced on the 3rd of September 2013, was heard on 28 November 2013. However, as the hearing could not be completed by the end of the day, the Singapore High Court directed that the hearing be adjourned for a further day of hearing, to be fixed. The further hearing date has not been fixed, but it is likely to take place in the first quarter of 2014.
Randeep Grewal, Founder and Chairman of Green Dragon Gas, commented, "The Singapore High Court has ruled that Conoco Phillips China (COPC) is barred from enforcing the arbitral award until the hearings are concluded. A final decision on the case is not expected to be rendered until after the further hearing date. The Company remains optimistic as to its prospects in the matter and is pleased with the appeal process thus far."