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Victoria Oil & Gas wins Kazakhstan battle

Wed Oct 1, 2008 7:45am EDT

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LONDON, Oct 1 (Reuters) - Victoria Oil & Gas Plc (VOG.L) shares rose 12 percent on Wednesday after it said it had won court decisions in Britain and Canada relating to a rival claim to its Kemerkol licence in Kazakhstan.

It follows a claim bought against its regional subsidiary by the previous Kemerkol licensee and information received by the company that an application had been made to the Kazakh Ministry of Energy and Mineral Resources for permission to sell the license.

Victoria Oil & Gas says the claim has no merit, and said it expects damages of at least 8.5 million pounds for breach of warranties under the sale and purchase agreement it signed with the previous licensee. (Reporting by Ben Deighton; Editing by Paul Bolding)



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