Close to China....
Posted on 05/18/2006 10:48:42 AM PDT by lizol
Moncrief Responds to BASF – Gazprom Deal to Develop Yuzhno Ruskoye Gas Field in Russia
4/26/2006 1:05:00 PM
To: National and International Desks, Business and Energy Reporters
Contact: Jeffrey W. Miller of Moncrief Oil International, Inc., 817-348-8454
FORT WORTH, Texas, April 26 /U.S. Neswire/ -- Moncrief Oil International, Inc. today issued the following statement in response to reports that BASF and E.ON may be finalizing contractual arrangements with Gazprom at the occasion of the German-Russian bilateral Government Consultations taking place today in Tomsk, Russia to acquire a 35 percent working interest in the Yuzhno Ruskoye gas field in Western Siberia:
"We are hopeful that E.ON, BASF and Gazprom will act correctly and lawfully in reaching agreements on a gas field that is subject to the prior interests owned by Moncrief. In the period of 1997-98, Moncrief signed a series of written agreements with Gazprom and its subsidiaries according a 40 percent interest in the Yuzhno Ruskoye gas field. BASF and E.ON have been constantly reminded of this ownership interest. Moncrief is now engaged in litigation in the United States to ensure that these binding agreements are honored. Additionally, Moncrief is currently consulting with legal counsel in Germany on the possibility of pursuing a case of tortious interference against BASF and E.ON based upon the apparent disregard of Moncrief's contractual rights.
"Following the Moncrief-Gazprom agreements, the Yuzhno Ruskoye gas field was strangely transferred by Gazprom's former management to the control of other private entities, including Itera International Group, at which time Gazprom ceased all contact with Moncrief. In 2002, under orders from within the Russian government, Gazprom recovered the gas field from this group as part of a general reform movement led by President Putin and Gazprom Chairman Alexei Miller. Moncrief was assured by the highest levels of Gazprom and the Russian Federation that its agreement would be honored, but that commitment has yet to be met even though Gazprom has neither cancelled nor denied the contracts. Moncrief nevertheless remains hopeful that these contracts and commitments will be honored."
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About Moncrief Oil International, Inc.
Moncrief Oil International is located in Fort Worth, Texas and is owned by Richard W. Moncrief, a principal in Moncrief Oil.
Moncrief Oil was founded in 1935 by Mr. Richard W. Moncrief's grandfather, W. A. (Monty) Moncrief and remains, today, one of the nation's most successful independent, privately owned oil and gas producers, working regularly with all of the major oil producers in the United States.
In the late 1930s, W. A. Moncrief was responsible for the discovery of the northern portion of the giant East Texas Oil Field. This field was instrumental in establishing the presence of large hydrocarbon reserves in the United States and will have an ultimate total recovery of six billion barrels.
In its 60 years as a leading oil and gas explorer and producer, Moncrief Oil has discovered or played a prominent role in the development of numerous major oil fields in Texas, Louisiana, Alaska, Oklahoma, New Mexico, Utah, California, Florida, Colorado, Montana, Wyoming, North Dakota, Alabama, and Mississippi.
Ping
Close to China....
fyi
Ping
Never trust the Russkies - especially when they make agreements with the Germans!
Moncrief is now engaged in litigation in the United States to ensure that these binding agreements are honored. Additionally, Moncrief is currently consulting with legal counsel in Germany on the possibility of pursuing a case of tortious interference against BASF and E.ON based upon the apparent disregard of Moncrief's contractual rights. ==
Let them go to the court and show what alerged rights they have. WHat we see now is just bla bla on publics.
They alredy lost in Texas court so you see?
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