In a continuation of one of the strangest dispute I have ever seen, after losing in the London High Court of Justice in December 2014, Gas Plus Khalakan have turned to the court system in Jersey to seek to deny Range Energy {CSE: RGO} access to data they have paid for in respect of the joint exploration licence in Iraqi Kurdistan.
This was an ex parte hearing, so Range have not yet had the right of response, and it would be hoped that when they do, the Jersey Court refers to the decision of the London High Court of Justice last year.
Comment
This ridiculous situation whereby two partners in a three way partnership are denying the third partner access to information over drilling programs they have fully paid for has entered the farce stage now!
Having been soundly defeated in the English courts, GPK have now referred the case to a Jersey court, presumably hoping for a different outcome!
Whether the Jersey Court would overturn a judgement made in the London High Court of Justice must be in doubt, and, if they don’t, what next? Call the case in Guernsey or another country in the hope of eventually landing a different outcome?
How long will this total farce be allowed to continue, and one wonders what can be done to enforce a court decision if they keep on refusing regardless of the outcome of the court case?
News Release
Jersey court enjoins release of information to Range Energy.
Range Energy Resources Inc. {CSE: RGO}has been informed that the Royal of Court of Jersey, at the request of Gas Plus Khalakan, issued an interim injunction on Jan. 12, 2015, that enjoins New Age Alzarooni 2 Ltd. from disclosing to the company certain confidential information regarding the Khalakan block in Kurdistan.
The order was issued on an ex parte basis; thus, the company was not given prior notice of the requested injunction or the opportunity to present a case before the court.
The court did, however, require GPK to send a copy of the order to the company so that it can consider whether to participate in further proceedings regarding the order, including proceedings seeking the discharge of the order.
As the company has previously reported, the company obtained in May, 2014, a favourable arbitration award that confirms the company’s right to obtain material information from NAAZ2 as to its investments in the Khalakan block and to use such material information to produce public summaries of the status of the work at the Khalakan block as is necessary to comply with applicable securities laws.
NAAZ2 and Black Gold Khalakan Ltd., the other NAAZ2 shareholder, challenged the award before an English court. That challenge was denied in December, 2014.
As the company previously advised its shareholders, despite the company’s success before the arbitration panel and the English court in enforcing its rights to receive and disclose material information regarding operations on the Khalakan block, the company may be required to pursue further legal action to enforce these rights.
Toufic Chahine, the chairman of the company’s board of directors, said: “Range is disappointed that GPK, the company in which Range has invested tens of millions of dollars, and its 50-per-cent shareholder New Age continue to use any means available to deny Range access to material information regarding its investment in the Khalakan block in Kurdistan. As it has over these last three-plus years, Range will continue to pursue vigorously its rights.”