Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
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  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Volga Gas PLC (VGAS)

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Tuesday 01 March, 2011

Volga Gas PLC

Update re: Trans Nafta legal process

RNS Number : 0559C
Volga Gas PLC
01 March 2011

1 March 2011



Update re: Trans Nafta legal process


Volga Gas Plc ("Volga Gas" or the "Company"), the oil and gas exploration and production group operating in the Volga Region of European Russia, is pleased to announce that, at a hearing in the Moscow Court of Cassation, the original judgment awarded by the Moscow Arbitration Court on 23 August 2010 in connection with the legal action brought by Volga Gas' wholly-owned subsidiary, OOO Gaznefteservice ("GNS") against OOO Gazneftedobycha ("GND"), a subsidiary of ZAO Trans Nafta, has been upheld.


The legal proceedings were undertaken by GNS against GND in May 2010 to recover from GND a sum of RUR 600 million (approximately US$ 20 million) plus interest accrued since November 2008.


On 24 August 2010, Volga Gas announced that the Moscow Arbitration Court had ordered GND to pay RUR 640 million (approximately US$ 22 million) to Volga Gas. The sum of RUR 600 million, which Volga Gas is seeking to recover, was originally paid by GNS to GND as a prepayment for the acquisition of a 75% interest in a gas processing unit which was intended to process gas and condensate from GNS's Vostochny Makarovskoye field.  This judgement was revised in the Court of Appellation on 22 November 2010 and today's hearing in the Court of Cassation upheld the original judgement given in August 2010.



Mikhail Ivanov, Chief Executive of Volga Gas commented:

"I am pleased to be able to update our shareholders with this positive result. Based on the facts presented to the court, we have won the third stage of the legal dispute and the court's decision is immediately enforceable.


"We are currently working towards final resolution of the legal, financial and commercial differences between Trans Nafta and Volga Gas to enable the Vostochny Makarovskoye gas-condensate field to commence production in the near future."



For additional information please contact:


Volga Gas plc

Mikhail Ivanov, Chief Executive Officer

+7 (495) 721 1233

Tony Alves, Chief Financial Officer

+44 (0) 20 8622 4451

Oriel Securities

Michael Shaw

Gareth Price

+44 (0)20 7710 7600

Financial Dynamics

Billy Clegg

+44 (0)20 7831 3113

Ed Westropp

Alex Beagley


Editors' notes:


Volga Gas is an independent oil and gas exploration and production company operating in the Volga region of European Russia.  The company has 100% interests in its four licence areas.


The information contained in this announcement has been reviewed and verified by Mr. Mikhail Ivanov, Director and Chief Executive Officer of Volga Gas plc, for the purposes of the Guidance Note for Mining, Oil and Gas companies issued by the London Stock Exchange in March 2006. Mr. Mikhail Ivanov holds a M.S. Degree in Geophysics from Novosibirsk State University. He also has an MBA degree from Kellogg School of Management (Northwestern University). He is a member of the Society of Petroleum Engineers.





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

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