Park Place Announces End to Bulgaria License Dispute

Energy company Park Place Energy Corp has said it has entered into an agreement that effectively brings to an end the litigation over the grant to the company of the Vranino 1-11 Block license in Bulgaria.

As part of the agreement, Park Place has purchased certain data and studies relating to the area covered by Vranino license, which will assist it in planning future exploration and development activities.

The next step is finalizing the form of license agreement with the Bulgarian regulators, a news release says.

Park Place expects to begin activities on the license area in early 2014.

The Vranino license is located in the Dobrich Basin, Eastern Bulgaria.

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