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"Hardy has released its FY 2016 results and updates on its three assets in India. Enforcement of the arbitration award on CY-OS/2 is becoming an increasing focus for the company, with legal proceedings now being pursued in the USA alongside those in India. The award included cash compensation which now stands at US$52.9m net to Hardy and return of the CY-OS/2 block for a three year appraisal period. The cash in particular could provide Hardy with attractive optionality in an oil market where many peers are looking to sell..." Arden Partners note out this morning on Research tree
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