Senior Counsel Reginald Armour, the former president of the Law Association, is one of three nominees that attorneys representing A&V Oil and Gas Limited has named as possible mediators if a proposed conference to resolve their "dispute through amicable negotiations" with Petrotrin fails.
The other nominees are John Dowse of Resolution Chambers and Helen Alves, the sole proprietor of Alves Clarke & Company and of Resolution of Disputes Limited.
On Friday Petrotrin announced that it was terminating A&V's contract arising out of discrepancies in its reported oil production and actual receipts by its Internal Audit Department earlier this year.
Last month, Petrotrin reported that its Audit Department's findings had been confirmed by an independent, Board-commissioned, forensic audit conducted by Canadian consultancy firm Kroll Consulting Canada Company.
Another report from global oil and gas consultants Gafffney Cline had also advised that the reservoir from which the oil had been produced was incapable of yielding the reported volumes.
However, a letter from A&V's attorneys Ramesh Lawrence Maharaj and Company to Petrotrin's Vice President Stephen Awah dated Friday said the company was not accepting Petortrin's decision.
A&V is now requesting that "the parties attempt to resolve their disputes in good faith".
Among the disputes are Petrotrin's retention of $76.6 million as at November 30 belonging to A&V because of the alleged overstated oil figures.
A&V is also disputing that it owes Petrotrin $8.6 million for the same period.
"A&V contractually require Petrotrin to convene an urgent conference of the parties and their respective legal counsel on a without prejudice basis to resolve the dispute through amicable negotiations in accordance with the negotiations phase of the dispute resolution provision," the letter stated.
A&V has proposed the conference be convened on January 2 next year at 1 pm at Petrotrin's conference room.
In the event that the negotiations do not resolve all of the disputed issues, A&V proposed Armour, Dowse and Alves as mediators.
The company also called on Petrotrin to name their nominees of mediator as a matter of urgency.
A&V's legal letter was also copied to Prime Minister Dr Keith Rowley, Energy Minister Franklin Khan and Petrotrin President Fitzroy Harewood.