Ascent Resources Shares Rise After Securing Insurance for Slovenia Claim
22 September 2023 - 10:20PM
Dow Jones News
By Joe Hoppe
Ascent Resources shares rose after it said it has secured an
"after the event", or ATE insurance policy related to its 656.5
million euros ($700 million) Energy Charter Treaty damages claim
against Slovenia.
Shares at 1137 GMT were up 0.3 pence, or 12% at 2.75 pence.
The Europe and Latin America focused energy company said Friday
that it should be noted that if it is successful, any amount
received may be significantly lower than the full claim.
ATE insurance is a protective policy for claimants, covering
most, if not all of legal costs and disbursements if a claim is
unsuccessful.
The Energy Charter Treaty is an international energy sector
agreement. Ascent is claiming that investments in Slovenia have
been unfairly targeted and expropriated by the country.
Slovenia's environment, climate and energy ministry didn't
immediately respond to a request for comment.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
September 22, 2023 08:05 ET (12:05 GMT)
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