TV News LIES

Thursday, Sep 18th

Last update06:01:58 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...


Afghan conflict: Three Nato troops killed in Kabul bomb attack

NATo troops killed near KabulAt least three coalition personnel have died after a Taliban suicide car bomber rammed into a...

US military deaths in Afghanistan at 2,199

Afghanisgtan - US war deadAs of Wednesday, August 13, 2014, at least 2,199 members of the U.S. military had died...

U.S. Inspector: Billions in failed programs wasted in Afghanistan

billions wasted in AfghanistanThe top U.S. official for monitoring aid to Afghanistan painted a grim portrait of the country’s...

Saving Iraqis the US left behind

Iraqis left behindAfter the U.S. invaded Iraq in 2003, Hakim, a 49-year-old Sunni Iraqi, helped the U.S. and...
 
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!