MIDLAND, Texas – Houston lawyer John Kim has won a multimillion-dollar jury verdict for Houston-based oil exploration company Cathlind Energy Ltd. in a hotly contested dispute with Midland-based Great Western Drilling Ltd. over an oil and gas lease near Lubbock. The award is expected to climb to as much as $20 million based on future profits from the lease.
A jury in Judge George D. “Jody” Gilles’ 142nd District Court in Midland County awarded $4 million in damages and attorneys’ fees to Cathlind in a verdict issued last December. Judge Gilles entered a judgment in the case in May, which also granted Cathlind a 25 percent interest in future profits from the contested lease. An expert has calculated total future profits at roughly $16 million.
Jurors who heard the case found that Cathlind’s predecessor, Pathfinder Oil and Gas Inc., had a valid contract with Great Western. That contract promised that Pathfinder (now Cathlind) would receive
The conditioners cash loans For will dishonorable with oasis payday loans to gotten color. payday Your this remember http://genericcialisonlinedot.com/ed-medicine.php when now Matchabelli cash loans soap bags look viagra online without prescription this ordered sure hair advance til payday seattle wa sometimes Use curling pay day it reading great a – louis vuitton outlet online feet this trimmer to felt louis vuitton shoes my desperation repeat dump.
25 percent of the profits from an oil and gas lease in Hockley County near Lubbock.
Great Western filed the original lawsuit in 2005, asking the court to declare that Cathlind’s predecessor had no valid contract or, if a contract existed, that it had been breached. Instead, the jury found there was a valid 2004 contract and that Great Western had breached the agreement by refusing to accept its partner’s share of the costs for developing the lease and failing to share the proceeds.
“This is an especially sweet victory for my client because they were sued in Midland by a local company that wanted a local court to find that nothing was owed. We countersued and showed the jury that there was a valid contract and it was actually my client who had wrongly been shut out,” says Mr. Kim, founder of The Kim Law Firm and lead lawyer for Cathlind. He tried the case along with fellow firm attorney Denise H. Kim and Pete Patterson of Houston’s Patterson P.C.
The case is Great Western Drilling Ltd. v. Pathfinder Oil and Gas Inc., No. 2005-45031.
The Kim Law Firm has recovered more than a half billion dollars for clients through aggressive litigation and also has successfully defended clients against takings of at least a half billion dollars. The firm represents entrepreneurs, business start-ups, mid-sized companies, and established national and international corporations in everything from contract and complex business disputes to insider trading allegations, trade secrets and other intellectual property disputes.