TV News LIES

Thursday, Oct 02nd

Last update07:09:50 AM GMT

You are here News War Iraq advisory firm, run by former US special forces officer, seeks a third of Gulf Keystone oil wealth

Iraq advisory firm, run by former US special forces officer, seeks a third of Gulf Keystone oil wealth

E-mail Print PDF

Iraq advisers seek 1/3 of oil wealthGulf Keystone Petroleum is facing a legal battle over its Iraqi oil fields, after an advisory company run by a former US special forces officer filed a claim for up to 30pc of its lucrative reserves.

The £1.25bn AIM-listed explorer saw its share price dive 17 to 167½p after disclosing that it is strongly contesting a suit filed 12 days ago in London’s Commercial Court. It has also been hit with a request for arbitration proceedings in New York.

The claim has been brought by Excalibur Ventures LLC, described on its website as offering advisory services related to Iraq – from project finance to translators and security. It is run by Rex Wempen, co-founder of the US-Iraq chamber of commerce and former security consultant.

Excalibur is claiming that it introduced Gulf Keystone Petroleum’s management to opportunities in Iraq’s Kurdistan region and had a contract to develop the area together three years ago. It also applied for a freezing order on Gulf Keystone’s assets, which was rebuffed by the London court.

Gulf Keystone is expected to argue that it never had a contract with Excalibur, but admit that its chief executive Todd Kozel had worked with Mr Wempen through a private company Texas Keystone.

More...


Most Recent Related Stories...


U.S.-led airstrikes hit Syria oil refinery near Turkey

US airstrikes on oil refineryAirstrikes likely carried out by a U.S.-led coalition struck an oil refinery in Syria held by...

US-led strikes hit IS-held oil sites in Syria

US atrikes syria oil fieldU.S.-led airstrikes targeted Syrian oil installations held by the militant Islamic State group overnight and early...

FBI: 12 Americans in ISIS, Not 100

james ComeyThe U.S. believes there are about a dozen Americans fighting alongside extremist groups in Syria, not...

U.S., Arab allies hit militant strongholds in Syria, Iraq

Air strikes against ISISCombined U.S.-Arab airstrikes hit Islamic State group military strongholds in Syria and Iraq as a simultaneous...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!