Summary

EuroGas, Inc. announced on January 12 2011 that, with regards to the Gemerska Poloma talc deposit, that EuroGas GmbH, a EuroGas affiliate, has filed a Notice of Intent to Arbitrate with the Slovak Republic and is claiming compensation of EUR 500,000,000 for the alleged unlawful, collusive taking, and denial of rights and equal protection, pursuant to the Austrian-Slovak Bilateral Investment Treaty and applicable European Union laws.