A spat has developed between entrepreneur David Lenigas, chairman of Leni Gas & Oil and Mediterranean Oil and Gas (MOG) over a stake in oil exploration rights in Maltese acreage.

According to the London Evening Standard, Leni Gas said it was "surprised" by Mediterranean Oil & Gas's deal with Genel in Malta and said it "is seeking immediate advice" from its litigation lawyers, Mishcon de Reya.

The source of the dispute is thought to centre around Leni Gas's sale last week of its 10% interest in Malta oil exploration rights to a subsidiary of MOG. This week MOG agreed a multi-million dollar deal to sell a 75% stake in these wells to Genel.

MOG's shares fell slightly, 0.5p to 13.6p. Leni Gas dropped 3.6%, or 0.02p, to 0.66p.

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