MARKETS

Karoon hit with $100M legal dispute

KAROON Energy, fresh from enjoying the success of ramping up production offshore Brazil in the Santos Basin, has been hit with a dispute notice from Pitkin Petroleum, its partner in its Peru blocks, which is seeking US$100 million in damages.

Karoon hit with $100M legal dispute

The partner has threatened legal action and alleges Karoon is in breach of its obligation to enter into the fourth exploration phase of the Z-38 license contract they share and drill a second exploration...

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