BRIEF-Baraka Energy and Resources comments on dispute affecting interests in permits EP127 and EP128

March 11 (Reuters) - Baraka Energy & Resources Ltd BKP.AX :

* Dispute affecting interests in permits ep127 and ep BKP.AX

* Operator of permits, Statoil ASA issued default notices based on alleged failure of Baraka to pay cash calls under 2014 work program for each permit

* Says "our notices of election not to contribute are valid, and therefore the purported notices of default are invalid"

* Intends to take legal action seeking urgent declaration that the purported default notices are invalid

* Maintains its claim that the work programs for both permits were not validly adopted"

* Source text for Eikon News Search ID:nASX67yXxw

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