Oceanic Exploration Files Suit Against ConocoPhillips

Oceanic Exploration Company and its subsidiary Petrotimor Companhia de Petroleos, S.A.R.L. have filed a lawsuit, including charges of Civil RICO and antitrust violations, against ConocoPhillips and commercial authorities established by the governments of Australia, Indonesia and East Timor.

Filed in the United States District Court for the District of Columbia on Monday, March 1, 2004, the 100-page complaint addresses allegations of theft, conversion and bribery pertaining to Oceanic's oil and gas rights in the East Timor Sea. Damages claimed are $10.5 billion, which would be trebled under the involved statutes.