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Loon Energy Inc.: Settlement of Brunei Block L Disputes.
- Article from:
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Canadian Corporate News
- Article date:
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November 30, 2007
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Copyright informationCOPYRIGHT 2007 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CALGARY, ALBERTA, Nov 30, 2007 (Marketwire via COMTEX) -- Loon Energy Inc. ("Loon") (TSX VENTURE:LEY) is pleased to advise that Loon and Loon Brunei Limited ("Loon Brunei") have entered into a settlement agreement which resolves all outstanding legal issues with Integra Mining (B) Sendirian Berhad ("Integra") and Bumico Sendirian Berhad ("Bumico").
On April 24, 2007 Loon disclosed that it had commenced legal proceedings in the High Court in London, England (the "High Court"), seeking declaratory relief against Bumico and Integra. Loon was seeking orders to protect the 90% interest in the rights Brunei National Petroleum Company Senderian Berhad ("PetroleumBRUNEI") had ...
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