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TXO further updates on Empire vs Smart Win court case

Published: 00:18 12 Jun 2014 AEST

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TXO (LON:TXO) updated on the Empire versus Smart Win court case in the US, reporting that Empire's attorney is confident the case will go before a jury.

It comes as Smart Win has applied again for a summary judgement in the proceedings (rather than jury trial) as it did three years ago when it failed.

Paul Batista, Empire's lawyer said: "Nothing has changed, and we are confident that the judge will conclude now, as he did three years ago, that a jury will have to decide whether Smart Win was a joint venture partner with Empire and whether Smart Win crippled Empire's on-going exploration for oil in Tasmania."

Batista noted that any party in any civil case has a right to move for summary judgment, but that it is reserved for simple cases in which there are absolutely no issues for a jury to decide.

TXO has an interest in the outcome of the case because Tasmanian Oil & Gas, in which TXO currently has a 25% equity interest, is beneficially entitled to 50% of any successful claim by Empire on this case.

Batista predicts that Smart Win's new motion will not be decided until September 2014 at the earliest because of the court's lighter summer schedule.

TXO shares eased 11.36% to 0.195p.

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