Re: Econ Oil to Appeal the Judgement in the Case Against Eskom

30 June 2021

Econ Oil has noted the Gauteng South High Court judgement on the matter against Eskom. We have instructed the attorneys to appeal the judgement.

It is evident in the judgement that the initial allegations of corruption, collusion, fraud and overcharging by Eskom were not relied upon by the court.

Econ would like to reiterate that the case was about Eskom's request to cancel the Fuel Oil contract. The cancellation was going to impact a legally binding contract the power utility had entered with us, which Econ believes is validly in force and effect.

Issued by: Econ Oil and Energy, 30 June 2021