By Joe Hoppe


Ascent Resources shares rose after it said it has secured an "after the event", or ATE insurance policy related to its 656.5 million euros ($700 million) Energy Charter Treaty damages claim against Slovenia.

Shares at 1137 GMT were up 0.3 pence, or 12% at 2.75 pence.

The Europe and Latin America focused energy company said Friday that it should be noted that if it is successful, any amount received may be significantly lower than the full claim.

ATE insurance is a protective policy for claimants, covering most, if not all of legal costs and disbursements if a claim is unsuccessful.

The Energy Charter Treaty is an international energy sector agreement. Ascent is claiming that investments in Slovenia have been unfairly targeted and expropriated by the country.

Slovenia's environment, climate and energy ministry didn't immediately respond to a request for comment.


Write to Joe Hoppe at joseph.hoppe@wsj.com


(END) Dow Jones Newswires

09-22-23 0805ET