Post by
Ceiba on Jan 05, 2017 9:39pm
Happy New Year!
Such a nieve person, but couldn't have done it without Easyoasy's help; he can drive even those most optimistic and persistent to an early grave.
* Arbitral proceedings shall be deemed to commence on the date on which the notice of arbitration is received by the respondent.
Monday, 09 September 2013
Petromin Resources Ltd. was advised today by TWE that following a significant period during which no clarification was provided by CNPC, TWE has deemed the matter an unresolved dispute and has issued a notice to CNPC of referral to arbitration under the terms and conditions of the PSC. TWE has indicated its actions are intended to protect the interests of its shareholders and potential economic benefits from the project.
Reference is made to the announcement dated 17 June 2013 on the seeking of written clarification by TerraWest Energy Corp. (“TWE”) from China National Petroleum Corporation (“CNPC”) regarding the coalbed methane (“CBM”) fairway lands within the Liuhuanggou CBM PSC.
From this news release, the notice of arbitration was initiated at around September 2013, which means we're well within the fourth year of the arbitration process.