I guess this has been the problem... can't wait too hear how this pans out.
Desiree Litigation
The Company advised in July 2014 that a previous JV partner in the Desiree Project was suing the Company for a 5.3% WI (4.63% WI net to GGE) in the Desiree Project and leases.
The partner formally withdrew from the project in December 2011 and, subsequent to the well having commenced drilling, demanded their interest be reinstated.
GGE’s right to its working interest is being vehemently defended.
The Company has successfully brought the matter out of the courts at this time and into arbitration which is currently set for 9 March 2015 in Houston, Texas.
GGE Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
