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by Mike Caswell

The battle between Petromin Resources Ltd. and dissident shareholders Tyrone Daum and Ivano DeCotiis has taken another turn, with the company suing the pair for defamation. Petromin claims that Mr. Daum and Mr. DeCotiis falsely accused the company of misleading the public as part of a "greenmail" effort. The pair also called Petromin chairman Arthur Ross Gorrell a liar, the suit claims.

The defamation suit comes amidst a lengthy battle that Mr. Daum and Mr. DeCotiis, who are minority shareholders, have waged for control of Petromin's board. At the company's last two annual general meetings they nominated a dissident slate of directors. They were defeated both times (but after the first loss they said that there were problems with the voting). Their main complaint is that management has misappropriated the company's interest in a Chinese venture that could be worth over $1-billion.

NATURE'S DESIGN

Art Gorrell

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