Gulf Keystone Beats Ex-Soldier's Lawsuit Over Iraq Oil Find

Law360, New York (September 10, 2013, 8:07 PM ET) -- The English Commercial Court ruled Tuesday in favor of Gulf Keystone Petroleum Ltd. and Texas Keystone Inc. in a potentially billion-dollar lawsuit filed by an ex-U.S. Special Forces captain who said he had been stiffed out of a finder's fee for oil production in Iraq.

The plaintiff, Rex Wempen, and his company, Excalibur Ventures LLC sued to enforce an agreement with a company founded by Gulf Keystone's CEO, Texas Keystone, which had agreed to give Excalibur a 30 percent interest in oil wells in exchange for...
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