StockMarketWire.com - Energean Oil and Gas said Monday that the Athens Administrative Court of Appeal had ruled in favour of the company's appeal against certain tax and transfer pricing penalties.

While the decision was considered to be final, the tax authorities had the right to submit an appeal before the Council of State, the company said.

The appeal came after Energean had recorded a provision of US$6.9m for the tax and transfer pricing penalties relating to fiscal years 2006 to 2011.

In 2015, Energean had been required to make a mandatory prepayment of 50% of the total exposure, €3.2m, to the Greek tax authorities.

At 8:38am: [LON:ENOG] Energean Oil Gas Plc share price was -3p at 529p



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