Oil and gas company Gulf
Keystone Petroleum Ltd. Wednesday said it has been taken to court in New York and London by a
company claiming it is entitled to a 30% stake in Gulf Keystone's oil assets in
Iraq's
northern Kurdistan region.
Excalibur Ventures LLC began proceedings in New York
Dec. 23 to assert its claims and asked a London
court to freeze Gulf Keystone's assets Dec. 21, Gulf Keystone said in a
statement. The court refused.
Gulf Keystone said it intends to contest Excalibur's claims.
"We believe we have very good grounds to vigorously challenge these claims
in both the U.S. and U.K.
courts," said Chairman Todd Kozel.
Excalibur Ventures couldn't immediately be reached for comment.