AMIN News American International Industries, Inc. Subsidiary Brenham Oil & Gas Corp. Files Lawsuit Against Tgs-nopec Geophysical & Eni Petroleum
GlobeNewswire "Press Releases"
Houston and Kemah, Texas, Aug. 9, 2011 (GLOBE NEWSWIRE) -- Brenham Oil & Gas Corp., OTCBB: BRHM ("Brenham"), a subsidiary of American International Industries, Inc., OTCBB: AMIN ("American"), announced today the filing of a tortious interference lawsuit against geophysical services company TGS-NOPEC Geophysical and ENI Petroleum Co., Inc., the American subsidiary of an Italian multinational oil exploration and production company. The lawsuit is pending in the 189thDistrict Court of Harris County, Texas.Brenham Oil & Gas, Inc. is represented by Houston law firm Fleming & Associates, LLP.The firm has successfully represented thousands of clients in complex legal matters throughout the United States.The lawsuit is the result of Brenhams agreement to acquire deepwater oil exploration rights in the Republic of Togo, which borders Ghana and is along trend with the 1.2 billion barrel Jubilee Discovery.
Rog Hardy, Brenham Vice President Technology, stated, "In a comprehensive regional review of all available data, Brenham identified a trend with attributes in Togo deepwater similar to those of the Jubilee Field area, including the probable presence of direct hydrocarbon indicators."
Brenhams executives twice visited the Republic of Togo and met with the Oil Minister and otherwise briefed the Government of Togo about the deepwater prospects it had identified.Based on the technical work Brenham undertook to identify the prospective trend, the Government of Togo negotiated a Production Sharing Agreement with Brenham for the 4,433 sq km (1,095,418 acre) Block 2 concession.
Brenham alleges that during this process, a senior employee of TGS-NOPEC contacted the Togolese Oil Minister and interfered with Brenhams contractual rights.The Government of Togo subsequently signed a Production Sharing Agreement with ENI, and Brenhams lawsuit also alleges that ENI conspired with TGS-NOPEC to interfere with Brenhams rights to the Togo concession.
Brenham also is continuing to investigate the involvement of certain local consultants in the ENI transaction, who are the close personal advisors to the President of Togo.
"While litigation is a long and uncertain path," said Scott Gaille, Brenhams President, "the irregular nature of this transaction when coupled with the high value of the oil prospects identified by Brenhams technical team requires us, in light of our responsibilities to our shareholders, to pursue all avenues available to protect the Companys rights to a level commercial playing field."
Mr. Gaille further stated, "The work undertaken by the Company in Togo reflects our African exploration efforts.Brenhams business model is to initially acquire oil development and production assets in the U.S. and then to follow these with a portfolio of international exploration prospects, with an initial focus on Africa.The Company previously announced the acquisition of approximately 1.4 million barrels of probable reserves near Abilene, Texas and the signing of an agreement to purchase a 5,000 acre Permian oil field near Midland, Texas."
For more information concerning this matter, please contact Rand Nolen of Fleming & Associates at 713-621-7944.
