TV News LIES

Wednesday, Apr 16th

Last update02:37:08 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...


Karzai insists US troops can leave Afghanistan by year's end

KarzaiThe outgoing president of Afghanistan, Hamid Karzai, has told the United States in his final address...

NATO airstrike that kills Afghan soldiers deals fresh blow to ties

Afgan soldiers hit by drone strikeA NATO airstrike on Thursday morning killed at least five Afghan soldiers and injured at least...

After 12 years of war, labor abuses rampant on US bases in Afghanistan

abuses at US bases in AfghanistanA year and a half after President Barack Obama issued an executive order outlawing human trafficking...

Report: U.S. considers resuming talks with Taliban on prisoner swap

BergfahlWashington wants to resume talks with the Taliban on a prisoner swap for a U.S. soldier...
 
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!