Pluris Energy Group, along with its wholly owned British Virgin Islands subsidiary, Pluris Energy Group Inc. (BVI) has received a partial award from The Secretariat of the Court, International Court of Arbitration, International Chamber of Commerce, Paris, France.

The Award is the result of the binding arbitration action the Company commenced against San Enrique Petrolera SA and its shareholders on April 27, 2007 for an initial damages claim estimate, which was submitted to the ICC in the amount of US$46.4 million. The Defendants submitted an initial counterclaim to the ICC for recovery of legal costs and translation fees associated with its defense in the Arbitration, for the amount of approximately $150,000.

The twenty-nine page docket rendered by the ICC binding the parties to the Award, approved by majority, determines that the Share Purchase Agreement (the "SPA") entered into between Pluris Energy and San Enrique on August 18, 2006 is terminated retroactively to October 31, 2006. It further determines that the SPA's early termination was seventy percent (70%) the responsibility of San Enrique and thirty percent (30%) the responsibility of Pluris Energy.

Tags: Pluris Energy Group Inc.