Tullow Oil plc said Thursday that its subsidiary, Tullow Uganda Limited, won a judgment against against Heritage Oil and Gas Ltd and Heritage Oil Plc in the Court of Appeal in London.
In June 2013, Tullow was awarded an indemnity claim by the High Court in London against Heritage for capital gains tax payments that Tullow had made on Heritage’s behalf to the Uganda Revenue Authority.
In August 2013, Tullow received $345.8 million from Heritage in satisfaction of this High Court judgment.
In September 2013, Heritage was granted permission by the Court of Appeal to appeal certain aspects of the High Court judgment.
The appeal was heard in May 2014.
In its judgment, the Court of Appeal ruled in Tullow’s favour on all but one of the points appealed by Heritage, amounting to $2.5 million of the original judgment.
In all other respects the Court of Appeal upheld the High Court’s judgment, Tullow said.