Hardy has released its FY 2016 results and updates on its three assets in India. Enforcement of the arbitration award on CY-OS/2 is becoming an increasing focus for the company, with legal proceedings now being pursued in the USA alongside those in India. The award included cash compensation which now stands at US$52.9m net to Hardy and return of the CY-OS/2 block for a three year appraisal period. The cash in particular could provide Hardy with attractive optionality in an oil market where m
09 Jun 2016
FY 2016 results and operational update
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FY 2016 results and operational update
Hardy has released its FY 2016 results and updates on its three assets in India. Enforcement of the arbitration award on CY-OS/2 is becoming an increasing focus for the company, with legal proceedings now being pursued in the USA alongside those in India. The award included cash compensation which now stands at US$52.9m net to Hardy and return of the CY-OS/2 block for a three year appraisal period. The cash in particular could provide Hardy with attractive optionality in an oil market where m