OREANDA-NEWS. March 24, 2010. In accordace with the judgment of the Kyiv Commercial Court approved at the end of January 2010,  Ukrnafta <UNAF UK SELL> is to pay UAH 12.35mn to UkrgazEnergo (RosUkrEnergo is one of the principal shareholders of the Company) for failure to fulfill the terms of an agreement on crude oil delivery.

Millennium Capital sees this news as being more neutral than negative for the Company, because it has to pay its ticks eventually. Moreover, Millennium Capital excepts that Mr. Kolomoyskyi will try to challenge this judgment by filing an appeal with the High Commercial Court of Ukraine. Moreover, Millennium Capital also continues to insist on its SELL recommendation for this share, because the prices for UNAF production as set during the recent auctions will continue to be significantly lower than the world market price levels.