Scorpion Offshore - Notice of Mediation for Gazprom non-payment
(Thomson Reuters ONE) - HAMILTON, BERMUDA - 6 November 2009Scorpion Nederlandse B.V, Venezuela Branch., a wholly-ownedsubsidiary of Scorpion Offshore Ltd. ("Scorpion" or the "Company")has issued an official notice of mediation of dispute toUrdanetaGazprom-1 S.A. ("Gazprom") on 30 October 2009 pursuant to theterms of the drilling contract .The Offshore Vigilant completed operations on the first well contractfor Gazprom in mid-October 2009 with $33 million in undisputedinvoices outstanding.As stated in our press release dated 15 October 2009, Gazpromcommitted to paying these invoices last week. No amounts werereceived from Gazprom.Discussions during the week of 26 October 2009 between Scorpion andGazprom have also failed to resolve this matter, resulting inScorpion issuing a notice of mediation pursuant to the contract withGazprom on 30 October 2009.In the event that the outstanding invoices are not received in the 30day mediation period, the formal arbitration process defined in thedrilling contract will commence. Scorpion believes that the Companywill collect all outstanding amounts.Scorpion Offshore Ltd. is a Bermuda based corporation founded in 2005to own and operate state-of-the-art offshore drilling rigs.Contacts:Jon Cole, President and CEO (713) 728-6100Mark Mey, SVP and CFO (713) 728-6100www.scorpionoffshore.comThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 06.11.2009 - 17:49 Uhr
Sprache: Deutsch
News-ID 8069
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