So the court ruled based on Mid-powers allegations of Fraudulence regarding the validity of Clear Creek wells, if i have read you correctly.
ie,
Mid-Power asserts that Davis made a number of representations respecting the value and potential of the Clear Creek Unit, the production capability of the Oman 2-20 well then underway, the absence of environmental or other liabilities, and the legal validity of leases on the Clear Creek property and other matters. Mid-Power asserts that various of Davis's representations were false, including the facts that the validity of the leases for the properties comprising the Clear Creek Unit may be challengeable due to a claimed lack of production in paying quantities, the Oman 2-20 well is incapable of economic production due to a high level of impurities, and the existence of environmental problems respecting two well sites in the Clear Creek Unit that required the Company to incur approximately $230,000 for remediation and bonding".
Why shouldn't Australian Investors who have also lost money get the same result in court, seeing as Jeff Clarke claimed that the reserve was both economical at a GAS price of just $2 AND that it could produce around 20million cubic feet per day?
Are these not Frauidulent claims on his personal behalf, along with the companies too?
The only way it couldn't be, IMO, is if the Director/Directors did not know of the case between Mid-Power and Tiger.
Class Action time again perhaps?
L
MAE Price at posting:
1.9¢ Sentiment: None Disclosure: Not Held
