Information  X 
Enter a valid email address

D1 Oils Plc (NEOS)

  Print      Mail a friend       Annual reports

Tuesday 08 February, 2005

D1 Oils Plc

Statement re Court claim

D1 Oils Plc
08 February 2005


8 February 2005

D1 Oils to contest High Court claim

D1 Oils plc intends to contest vigorously a claim which has been lodged with the
High Court for approximately £725,000 in respect of a dispute over payment for
services and intellectual property rights with Mr. Steve Davis and his
wholly-owned company SIF. In its prospectus D1 Oils plc provided for the payment
of the disputed amount to be made using part of the proceeds of the placing of
its shares.  However, a dispute has now arisen between the parties as to whether
the payment should be made.  D1 Oils plc is seeking to set off its own
counterclaims against Mr. Davis and SIF for at least the totality of the
amount detailed in the claim.

D1 Oils and Mr. Davis had originally agreed to try to resolve the dispute
through mediation and still hope to do so.

Enquiries

Karl Watkin                D1 Oils plc              07808 690069

Kevin Byram                Brunswick                020 7404 5959
James Crampton




                      This information is provided by RNS
            The company news service from the London Stock Exchange