Alpha Prospects Limited

Empire Energy Case Update
July 12, 2014


Alpha Prospects Plc, the investment management company listed on the GXG Exchange, focused on companies with fast growth and/or recovery prospects, announces that following Smart Win’s motion for summary judgment in the case against Empire Energy Inc. (“Empire”), in which Alpha has a 20% interest via the holding in Tasmanian Oil and Gas Limited, the lawyer acting for Empire issued the following statement:

“New York State Judge Rejects Smart Win’s Effort to Block Empire from Filing Papers. “In June, as previously reported, Smart Win filed a motion for summary judgment in its New York litigation involving Empire. In a radical departure from normal practices in the New York Courts, Smart Win’s attorneys refused to agree to an orderly briefing schedule to give Empire time to file its opposition papers.

“Paul Batista, who has served as Empire’s counsel from the outset of the case, filed a motion yesterday with presiding Justice Jeffrey K. Oing for an orderly briefing schedule that would give Empire until July 31 to file its papers. Mr. Batista emphasized in his letter, among other things, the complete lack of professional courtesy from Smart Win’s lawyers.

“Smart Win’s lawyers immediately responded with an invective-laced letter claiming that Empire had forfeited its right to oppose the motion.

“Significantly, Justice Oing within minutes of reviewing the letters granted Mr. Batista’s application in full and rejected Smart Win’s position.

“It continues to be Mr. Batista’s view that the current Smart Win motion for summary judgment is a duplicate of the motion for the same relief that Smart Win requested three years ago and that Justice Oing rejected three years ago. Smart Win’s recent effort to block Empire’s ability to defend itself and to prosecute its counterclaims not only, according to Mr. Batista, reflects Smart Win’s underhanded tactics, but reveals Smart Win’s desperation regarding its liability to Empire. Mr. Batista remains confident that the motion for summary judgment will be denied and that the case will move promptly to trial.”


Alpha Prospects
Christopher Foster
+44 (0) 7525 688 741

Lothbury Financial Services
Michael Padley
+44 20 3290 0707

Editors’ Note

About Alpha Prospects

The Company’s strategy is to make investments in companies with fast growth and/or recovery prospects. Typically the companies in which Alpha Prospects will invest are in the small and micro-cap sector and the Company’s interest in its investments is proactive. Currently Alpha has 11 investments.

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