Range Energy – Temporary three month truce declared in Khalakan litigation

Range Energy {CSE: RGO} have announced that they and their partners have “agreed to suspend their litigation for three months“.

As a result, Range can finally advise their news starved shareholders of progress on the project.



This remains the most absurd case I have ever heard a listed company being involved in, and wonder why a  truce has been declared at this juncture?

So Range can advise their shareholders of news for three months, and then we have to wait and see whether they have to stop again, or not.

One wonders what are the deciding factors in whether or not this agreement will be extended or not?

It is very difficult to be a shareholder in a company where they are not allowed to issue news, let’s hope this absurdity has finally come to an end on a permanent basis!



News Release


Range, Gas Plus halt Khalakan litigation for 3 months




2015-09-01 17:22 ET – News Release

Mr. Toufic Chahine reports.


Range Energy Resources Inc. {CSE: RGO} has reached a temporary initial three-month suspension agreement with Gas Plus Khalakan Ltd. (GPK) and New Age Alzarooni 2 Ltd. (NAAZ2) regarding the continuing litigation over the company’s right to receive and disclose certain material information on petroleum operations at the Khalakan block in Kurdistan region of Iraq.


Under the agreement, the parties will temporarily suspend litigation in the Jersey Islands regarding an injunction that prevents the release of information to the company. GPK obtained this injunction in January, 2015. During the agreed suspension period, GPK will periodically release to the public certain information regarding petroleum operations at the Khalakan block.


Toufic Chahine, chairman of Range, provided the following comment: “We are delighted to have reached a temporary agreement regarding our ongoing litigation, and we look forward to working with NAAZ2 to provide this information to Range’s shareholders in the near future and are hopeful for a longer-term settlement with all of the parties.”


We seek Safe Harbor.