We are very pleased to announce all pending litigation against Ness Energy International, Inc. has been settled and dismissed. For the lawsuit that was filed in 2008 in the U.S. Federal Court, Southern District Court of New York: 08 Civ.5686 (AKH), a Satisfaction of Judgment has been filed, and the case has been dismissed. The lawsuit that was filed in 2010 in the Western District Court of Oklahoma has been settled and dismissed. A Settlement Agreement and Release has been executed in order to fully resolve and forever discharge any and all claims filed or that could have been filed in the action styled Alpha Capital Anstalt v. Ness Energy International, Inc. and others, case No. 10-1218 (WD Okla.).
Under the Settlement Agreement and Release, Ness Energy International, Inc., the company that was traded publicly, is to be released from all of the claims and associated debts concerning loans signed in May of 2006, including any interest or penalty due under the terms of agreements, in return for the assignment of rights to the stock in Ness Energy of Israel, the private subsidiary of Ness Energy International, Inc. in Modi’in, and other associated rights in the pending lawsuit in the Central Area District Court of Israel, Civil File No. 40762-10-10.
Plans for Ness’ full restoration and pursuit of its vision will proceed. As soon as materials change and/or newsworthy progress is made, an update will be posted on the website. Again, I want to say THANK YOU to everyone who has continued to pray and believe faithfully in the restoration of Ness Energy International, Inc.
David M. Boyce
President and CEO
Ness Energy International, Inc.