Dundee Energy Limited Announces Arbitral Tribunal Decision on Castor Project

ID: 1494885
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(businesspress24) - TORONTO, ONTARIO -- (Marketwired) -- 03/27/17 -- Dundee Energy Limited ("Dundee Energy" or the "Corporation") (TSX: DEN) today announced that the arbitral tribunal of the International Chamber of Commerce rendered its decision related to the Castor Project in Spain, denying the claim made by Castor UGS Limited Partnership. The decision was rendered by a majority of the three-person tribunal, with the third member issuing a dissenting opinion. Counsel is reviewing the decision to determine what steps may be taken based on the decision rendered.

ABOUT THE CORPORATION

Dundee Energy Limited is a Canadian-based oil and natural gas company with a mandate to create long-term value for its shareholders through the exploration, development, production and marketing of oil and natural gas, and through other high impact energy projects. Dundee Energy holds interests, both directly and indirectly, in the largest accumulation of producing oil and gas assets in Ontario and, through a preferred share investment, in certain exploration and evaluation programs for oil and natural gas offshore Tunisia. The Corporation''s common shares trade on the Toronto Stock Exchange under the symbol "DEN".

Contacts:
Dundee Energy Limited
21st Floor,
1 Adelaide Street East
Toronto, ON M5C 2V9

Dundee Energy Limited
Harold (Sonny) Gordon
Chairman
416-863-6990

Dundee Energy Limited
Bruce Sherley
President & CEO
403-651-4581



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Date: 03/27/2017 - 07:03
Language: English
News-ID 1494885
Character count: 1236
Kontakt-Informationen:
Firma: Dundee Energy Limited
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Stadt: TORONTO, ONTARIO
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