Pricaspian Turned Away In Total Oil Profits Suit

Law360, New York (November 30, 2009, 1:03 PM EST) -- The litigious principal of a Texas oil company has seen another of his legal attempts to cash in on a sea of black gold under Kazakhstan thrown out, this time in the form of a suit related to an exploration agreement with Total SA.

Judge William H. Pauley III tossed the November 2008 suit, which claimed the France-based petroleum giant owed Pricaspian Development Corp. 20 percent of profits it will earn under an agreement with other oil companies and the Republic of Kazakhstan.

In the ruling,...
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