Seeking Alpha

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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