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Canadian Overseas Petroleum Ltd - oil and gas company - Says its affiliate Southwestern Production Corp, operator of the Barron Flats Shannon Miscible Flood Unit, has filed a law suit in the State Court of Wyoming, against Cuda Energy LLC, a subsidiary of Cuda Oil & Gas Inc, Bridging Finance Inc, and Tallinn Capital Energy LP, to seek a judicial foreclosure on Cuda's non operated working interest in the Barron Flats Unit. Cuda's current cumulative operating arrears owed to Southwestern for the month ending June 30, amounts to USD2.5 million. It is noted that the Claim against Cuda will be subsequently amended to reflect Cuda's ongoing cumulative arrears, and any further resulting damages.
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By Evelina Grecenko; evelinagrecenko@alliancenews.com
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