The Management of Prudent Energy and Services Limited (PESL) on Tuesday, rubbished the story making the rounds that it failed to pay Zenon Petroleum and Gas Limited a debt of $6 million. The management, particularly condemned a petition and the publication of the said petition by Zenon purporting to wind up PESL, the parent company of Ignite, owners of Ardova Oil saying the move was not only illegal, but extremely malicious. According to PESL management, “the Sale and Purchase Agreement between lgnite Investments and Commodities Limited (lgnite) and Zenon includes…
Read MoreALLEGED $6 MILLION DEBT: PRUDENT ENERGY RUBBISHES MALICIOUS PUBLICATIONS, PRESENTS FACTS OF THE CASE AGAINST ZENON OIL
