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TXCO sues rival over oil, gas leases

By Vicki Vaughan Express-News TXCO Resources Inc., the oil and gas exploration company that filed for bankruptcy protection May 17, filed a complaint this week against Dallas-based Peregrine Petroleum LLC, claiming the company stole TXCO's trade secrets and engaged in unfair competition by using confidential information. The allegations relate to TXCO's acquisition and leasing of oil and gas properties, particularly in two areas in South Texas known as the Eagle Ford and Pearsall formations. Peregrine is accused of using TXCO's secret information to acquire leases or other interest "in lands that are key to TXCO's business," including leases that TXCO was negotiating at the time it was engaging in talks with Peregrine. To continue reading this interesting article from My SA business, click here.

Full post as published by The Trade Secrets Vault on November 29, 2009 (boomark / email).