Mayne Can't Pursue $300M Mineral Lease Suit: 5th Circ.

Law360, New York (November 12, 2010, 2:15 PM EST) -- A federal appeals court has refused to revive a $300 million breach of contract suit that Mayne & Mertz Inc. filed against competitor Quest Exploration LLC and property owner Excalibur Land Co. Inc. over the rights to mineral leases in Louisiana and the alleged misappropriation of confidential seismic data.

The U.S. Court of Appeals for the Fifth Circuit on Thursday affirmed a grant of summary judgment in favor of Quest, Excalibur and oil and gas investment firm Texas Tea LLC, finding that the agreement at issue...
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