Court decides to liquidate drilling company Golden Derrick

The business court of Donetsk region on January 27, 2016 decided to liquidate private joint-stock company Drilling Company Golden Derrick, according to a report of the National Commission for Securities and the Stock Market of Ukraine.

The liquidation procedure will last for 12 months.

The company's net asset value is UAH 197.353 million, its liabilities total UAH 95.232 million, equity capital is UAH 10.134 million (information from the audited annual report).

As reported, in 2015, the higher administrative court of Ukraine has upheld the ruling of a court of lower instance that Golden Derrick LLC was deprived of 19 permits to produce oil and gas.