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

Law360, New York (September 10, 2013, 8:07 PM EDT) -- 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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.