Tribunal progressing towards decision in Ascent's Slovenia arbitration

(Sharecast News) - Ascent Resources said on Wednesday that it had received an update on its Energy Charter Treaty arbitration against the Republic of Slovenia, with the tribunal continuing to make progress toward a final decision. The AIM-traded oil and gas company said the International Centre for Settlement of Investment Disputes confirmed that the arbitration tribunal had advanced work on the draft award, and remained in deliberations.

It reiterated that it expected the tribunal's award on the merits of the claim to be issued toward the end of the first quarter.

The firm said it would provide further updates to the market as and when appropriate.

At 1244 GMT, shares in Ascent Resources were up 13.33% at 0.43p.

Reporting by Josh White for Sharecast.com.