KIEV, June 10 – Perchersky District Court in Kiev has satisfied a petition of Vanco Prykerchenska Ltd. asking that it recognize the final decision of the Arbitration Institute of the Stockholm Chamber of Commerce, which on December 28 approved an amicable production sharing agreement on Prykerchensky deposit of the Black Sea shelf between the company and Ukraine.

Vanco Prykerchenska President Jim Brown said that the company is satisfied with the decision.

"We hope that the completion of all the legal procedures soon will unblock the realization of the project for the exploration of hydrocarbons in Prykerchensky deposit of the Black Sea," he said.