tiprankstipranks
RH Petrogas Subsidiary Faces Million-Dollar Land Dispute
Company Announcements

RH Petrogas Subsidiary Faces Million-Dollar Land Dispute

RH Petrogas Limited (SG:T13) has released an update.

Don't Miss Our Christmas Offers:

RH Petrogas Limited has announced that its subsidiary, Petrogas (Basin) Ltd., has been ordered by the Indonesian Supreme Court to pay approximately US$1.64 million in compensation for opportunity loss and return land related to a two-decade-old land acquisition dispute. The Group, which acquired interests in the expired project in 2010, indicates that the compensation will be shared among partners of the now-defunct project, and that the well in dispute is no longer in production. The company is considering its legal options and will update stakeholders as more information becomes available.

For further insights into SG:T13 stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks Singapore Auto-Generated NewsdeskRH Petrogas Streamlines Operations with Subsidiary Closure
TipRanks Singapore Auto-Generated NewsdeskRH Petrogas Subsidiary Wins Conservation Award
TipRanks Singapore Auto-Generated NewsdeskRH Petrogas Strikes Oil in Indonesia
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App