Alaskan oil and gas lease leads to litigation in Galveston

John Suayan, Galveston Bureau Apr. 9, 2012, 11:13am

GALVESTON - Escopeta Oil of Alaska LLC and WTF Distribution Trust are locked in a dispute over an oil and gas lease in Alaska.

In a lawsuit filed March 26 in Galveston County District Court, Escopeta argues that WTF - through an assignment executed by its sole beneficiary - converted and stole a 1.875 percent NRI and 2.5 percent of the working interest in the Alaska lease in October 2011.

"The defendant wrongfully procured the purported assignment of interests in the Alaska Lease," the suit says."The purported assignment was illegal, unauthorized and executed by the Trust's sole beneficiary without the consent or knowledge, actual or constructive, of the plaintiff."

Escopeta insists that "the defendant has acted and is continuing to act voluntarily to permanently deprive the plaintiff of its complete and unclouded title to its ownership interest in the Alaska Lease, and the defendant's actions amount to unlawful appropriation of this property, with apparent intent to deprive the plaintiff of its interest in the property permanently."

The suit adds WTF's supposed actions were "malicious" with the intent to cause substantial harm and financial injury to the plaintiff.

"Any property interest claimed by the trust should be immediately disgorged," the original petition says.

"The Trust, should, in fact, be dissolved and disbanded based upon the fraudulent activity which precipitated its formation."

Consequently, Escopeta seeks unspecified monetary damages.

The plaintiff is represented by Williamson & Rusnak.

Galveston County 56th District Court Judge Lonnie Cox is presiding over the case.

Case No. 12-cv-597

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