A company statement said Canadian-based operator Geocan had successfully blocked an attempt by minority partner Czech Oil Company (COC) to transfer the title of the Breclav Licence to a non-arms length party.
It said in a separate proceeding that the Czech Ministry of the Environment expressed the opinion "a settlement of ownership relations of COC towards its foreign partners shall be necessary for further proceedings.
Managing Director Gerald Johnson said the partners had applied for a Mining Production Lease, an initial step in bringing the Postorna oil pool into production.
