DALLAS, Dec. 9, 2013 /PRNewswire/ – Breitling Oil and Gas Corporation and Breitling Royalties Corporation (collectively, “Breitling”) and Crude Energy, LLC and Crude Royalties, LLC (collectively “Crude”) jointly announced today that Breitling has transferred to Crude its business of sourcing and managing oil and gas working interests and royalty interests for clients. Upon completion of its asset purchase agreement with Bering Exploration, Inc. (“Bering”), Breitling intends to operate as a publicly held exploration and production company, not as an originator of investment opportunities for retail investors.
Breitling Hits Petroleum News Bakken With Defamation Suit
http://www.law360.com/articles/462730/breitling-hits-petroleum-news-bakken-with-defamation-suit
“This information is kept confidential from the public. However, the actual investors of Breitling are made aware of this and have the pertinent records indicating the operators,” the petition said. “Without properly researching the well names or doing the due diligence required before publishing slanderous comments, defendant ‘shot from the hip’ and published the aforementioned article which caused Breitling irreparable harm.”
During the week of July 14, Bakken published an article titled, “A mix-up in well names? No records found for wells Breitling says were drilled in North Dakota.” The article said that, after a search of wells in North Dakota, no records were found that Breitling had an interest in the wells.
That article was patently false, according to the lawsuit.