Statement from J. Cleo Thompson and James Cleo Thompson, Jr., L.P.

DALLAS, Nov. 23, 2016 /PRNewswire/ -- The following statement was released today by Paul Rudnicki, chief financial officer of J. Cleo Thompson, regarding "Mesa Petroleum Partners, LP v. Baytech LLP, et al.," Civil Cause No. 15-04-20996-CVR in the 143rd State District Court of Reeves County, Texas:

"We are gratified that the jury rejected the billion-dollar claims of T. Boone Pickens and Mesa Petroleum Partners LP in this case. The jury's award against J. Cleo Thompson of approximately $6 million is a fraction of what Mr. Pickens and his lawyers originally sought. This verdict also followed the court's dismissal of most of Mesa's other claims before trial. We believe the evidence does not support the verdict that J. Cleo Thompson breached the joint operating agreement. For example, J. Cleo Thompson did not even drill the wells at issue in the verdict. We plan to ask the judge to enter judgment in our favor on those points. We thank the jury and the court for their service and hard work in this case."

Contact: Erin Powers, Powers MediaWorks LLC, for J. Cleo Thompson, 281.703.6000, [email protected].

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SOURCE J. Cleo Thompson