Ascent Resources Shares Rise After Securing Insurance for Slovenia Claim
By Joe Hoppe
Ascent Resources shares rose after it said it has secured an "after the event", or ATE insurance policy related to its 656.5 million euros ($700 million) Energy Charter Treaty damages claim against Slovenia.
Shares at 1137 GMT were up 0.3 pence, or 12% at 2.75 pence.
The Europe and Latin America focused energy company said Friday that it should be noted that if it is successful, any amount received may be significantly lower than the full claim.
ATE insurance is a protective policy for claimants, covering most, if not all of legal costs and disbursements if a claim is unsuccessful.
The Energy Charter Treaty is an international energy sector agreement. Ascent is claiming that investments in Slovenia have been unfairly targeted and expropriated by the country.
Slovenia's environment, climate and energy ministry didn't immediately respond to a request for comment.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
September 22, 2023 08:05 ET (12:05 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
5 Undervalued Stocks to Buy to Play a Little Defense
-
Markets Brief: AI Leaders Excel In Earnings Season So Far
-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
After Earnings, Is Tesla Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is GE Aerospace Stock a Buy, a Sell, or Fairly Valued?
-
3 Good Stocks to Buy with Your Tax Refund in 2024 (Or with Any Extra Money)
-
SoFi Earnings: Revenue Growth Slows on Lower Loan Growth and Higher Credit Costs
-
Tesla: Full Self-Driving Approval In China Supports Our View for Deliveries Growth In 2024
-
Philips Earnings: Firm Reaches $1.1 Billion Settlement Agreement
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track