Aim listed Mediterranean Oil & Gas (MOG) has hit back hard at Leni Gas & Oil (LGO) following Friday’s preliminary court hearing in which Leni appeared to triumph.
Mediterranean has issued an RNS stressing that this hearing was only to allocate costs (which Leni did win on) and to set timetables. However sources close to Mediterranean have contacted ShareProphets and gone rather further.
It is Leni’s claim that it was misled by Mediterranean as to the nature of the latter’s discussions with Genel prior to selling 10% of a Maltese Exploration block for just $1 on August 1st 2012. 23 days later Mediterranean announced a tie up with Genel which would, according to analysts, have been worth $9 million to Leni had it not sold.
Leni’s claim is that it was misled by Mediterranean prior to the sale.
However,
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