Phillips v. Carlton Energy Group, LLC

Wildcatting is speculative business, especially in a foreign country, but it is business nonetheless. Data is gathered', risks are assessed, deals are reached, and money is made and lost,' all in something of a competitive market.- An investment is sometimes a roll of the dice ’ but other times a cold calculation. The law does not compensate gambling losses but does’ afford damages for the -reasonable value of interests wrongfully taken.

In this case, the plaintiff and the main defendant both wanted- an interest in a coalbed methane exploration prospect in Bulgaria. A jury found that the…