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BRIEF-Tap Oil updates on settlement of claim with Apache

Published 23/12/2015, 12:09 pm
© Reuters. BRIEF-Tap Oil updates on settlement of claim with Apache
APA
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TAP
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Dec 23 (Reuters) - Tap Oil Ltd TAP.AX :

* Settlement of claim with Apache (N:APA) TAP.AX

* Says Apache claim was for US$4.154 million plus interest and costs

* Says understands that bhp billiton subsequently assigned to Apache a portion of its interest in wa-351-p

* Settlement on basis that apache's claim against Tap is dismissed with Apache paying Tap costs of A$50,000

* Says considered that the claim was without merit and is pleased with the settlement outcome

* It was not apparent on what basis Apache was making a claim against Tap under a farmin agreement to which it was not a party

* Source text for Eikon ID:nASX2QxmzG

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