BASKER MANTA GUMMY (BMG) PROJECT
9 September 2010
BWO Offshore settlement
"Beach Energy Limited (Beach) and the other named participants in the BMG Project have agreed to settlement terms with BW Offshore (BWO) in respect of the proceedings (including all claims and counter claims) in the Federal Court of Victoria.
The settlement, the terms of which are confidential, involves a total cash payment of US$32.5 million by the named BMG participants within 14 days of the Settlement Agreement. The court case is adjourned pending final payment."
Regards
SP
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