TV News LIES

Sunday, May 24th

Last update05:35:01 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...


Slaughter of Iraqi family in suspected US-led air strike hints at cost of war

Slaughter of Iraq family of 5Mustafa was jolted awake by the thunderous sound of two large explosions. As the ground shook...

American, Italian hostages killed in US drone strike

ObamaAn American and an Italian held hostage by al-Qaida, as well as two Americans working with...

The Real Cost of Vietnam

Vietnam warThe commemoration of the end of the Vietnam War this week in 1975 will be lost...

The Terrible Legacy of Agent Orange

agent orangeI wanted to put it all in the context of today’s Vietnam, forty years on. To...
 
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!