Gulf Keystone wins lawsuit over Iraqi oil claim

Gulf Keystone Petroleum (GUKYF.PK, GFKSY.PK) wins its legal case which saw its position in Iraqi Kurdistan oilfields challenged, as the English Commercial Court ruled against a U.S. company which had claimed a right to a 30% stake in the Kurdish assets.

Excalibur Ventures, founded by a U.S. soldier serving in Iraq, lacks financial resources that prevent it from being able to fulfill its financial obligations and thus has no valid claim, the judge rules.

Gulf Keystone’s Shaikan oil fields will produce 250K/day by 2018, according to the company.

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Comments (2)
  • K. Keane
    , contributor
    Comments (2) | Send Message
    Long and painful haul....Now we can get back to the business of developing and producing oil...and provide returns to the long term holders of this stock.....Ought to be a great takeover target now that the title is clean....What other explorers have some 15bb barrels confirmed in the ground reserves !!!!!!
    10 Sep 2013, 08:36 AM Reply Like
  • DirectorsTalk
    , contributor
    Comments (2) | Send Message

    11 Sep 2013, 01:58 AM Reply Like
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