Hi Harry, here's the ADDA release:
As a mitigating factor: rumor of $8NG prices for fall. What
the heck, perhaps things are going just as they should be
when we get before the judge.
FOR IMMEDIATE RELEASE
STATUS OF TEXAS LAWSUIT
Vancouver, B.C. - May 23, 2000 - ADDA RESOURCES LTD. today announced that
the lawsuit in which the Company is a co-plaintiff in Pecos County, Texas
has been continued from June 19, 2000 to the week of October 02, 2000.
The lawsuit is against Weatherford et al in regards to the Winfield Ranch
17 No. 1-E well at South Fort Stockton, Pecos County, Texas. It was
launched on March 03, 1999 by Baytech, Inc. and the working interest owners
which are seeking to have Weatherford and their insurers pay the market
value of the well, litigation and associated costs or drill another well to
the Ellenburger formation plus pay consequential and exemplary damages. The
trial was previously scheduled to be heard on June 19, 2000.
Two third party defendants were not added as parties to the case until
February, 2000 and lead counsel for both of the third-party defendants did
not enter an appearance until late that month. As a result of the fact that
the case is complex with massive amounts of discovery and deposition
evidence their counsel requested a continuance of the trial. Although our
counsel was displeased at the prospect of a postponement and opposed the
request, the court made the proper decision which is most fair to the added
defendants and has rescheduled the trial to October 02, 2000.
Adda Resources Ltd. is a Vancouver based independent oil and gas company
engaged in petroleum exploration and development projects. The Company is
listed on the Canadian Venture Exchange under the symbol ADA.
On behalf of the Board of Directors,
ADDA RESOURCES LTD.
?Brian C. Doutaz?
Brian C. Doutaz
Director |
