San Leon Energy loses arbitration case appeal

AIM-listed San Leon Energy said it had lost an appeal against the International Court of Arbitration over the purchase of a stake in Poland's Energia Zachod by its Aurelian Oil & Gas unit.

Aurelian appealed the ICC findings to the UK Commercial Court in October 2015. The findings of the court, received by the Company on 4 February 2016 but not conclusive until 11 February, were that Aurelian's leave to appeal was dismissed, San Leon said in a statement.

"San Leon is conferring with Counsel on its options, and will provide further updates in due course," the company said.