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Stans Energy Successfully Concludes Licence Appeal

By: MT Newswires
Posted: 3/4/2013 2:25:00 PM
Referenced Stocks:

Stans Energy Corp. (HRE.V) said that that the legal representative of the Jogorku Kenesh of the Kyrgyz Republic has withdrawn their appeal relating to the action by a committee in the Jogorku Kenesh against the company in the Inter-District Court of Bishkek.

The withdrawal of the appeal effectively ends all legal controversy surrounding the licence for Kutessay II and upholds the original verdict in favour of Stans Energy and its subsidiaries in Kyrgyzstan.

HRE was up nearly 13% to 40 cents, trading close to year low 28 cents.