Gulf Keystone said Excalibur wasn’t authorized by the Kurdish government to participate in any deal and additionally broke its side of the bargain by failing to contribute to exploration costs.
Kozel and his brother Robert, an executive at Texas Keystone, aren’t credible witnesses, Excalibur lawyer Simon Picken told the judge today; Kozel “reconstructed” a letter to the Kurdish government two years after it was supposed to have been written to support his case that Gulf Keystone had asked whether Excalibur could be included in the deal.
While the letter was presented as evidence in pre-trial hearings, Kozel later admitted he probably didn’t send it, Picken said.
"The Wempens are truthful people," Picken told the court. The same conclusion "can’t be safely reached about the Kozel brothers."
Gulf Keystone prompted takeover speculation in the past, but this will likely remain on hold until the conclusion of the trial, which is scheduled to last 12 weeks.
(Source: Bloomberg, Reuters)
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