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Financial Times: UKRAINE COURT’S DECISION BOOSTS REGAL PETROLEUM

By Robert Orr and Neil Hume
Published: December 13 2006 02:00 | Last updated: December 13 2006 02:00

*Regal Petroleum increased by 12 per cent to 178p after a Supreme Court of Ukraine ruling in favour of the oil and gas group brought to an end the long-running dispute about the validity of its Ukranian production licences. The ruling, which overturned a court decision, ended a dispute that has dragged through the Kiev courts for more than a year.

Peter Hambro Mining slid a further 16 per cent to 820p amid reports authorities in Russia had begun checks at all 54 of the gold producer’s assets in the country.

The reports were publicised just as Royal Dutch Shell and its partners were pressured into ceding majority control over the Sakhalin-2 oil project in Siberia amid intensifying concerns about Russia’s desire to control its energy resources.

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