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Home | April 2013 Please tell us what you think of this article. Tell a friend Print Friendly

Falklands : Falklands: Argos Announces PL 001 Licence Extension
Submitted by Falkland Islands News Network (Juanita Brock) 13.04.2013 (Article Archived on 27.04.2013)

The Falkland Islands Government has extended the second term of PL001 Licence of Argos Resources Limited by one year, to 25 November 2016, with no additional work commitments.

Argos Announces PL 001 Licence Extension

 

By J. Brock (FINN)

 

The Falkland Islands Government has extended the second term of PL001 Licence of Argos Resources Limited by one year, to 25 November 2016, with no additional work commitments.

Following changes to the licensing conditions introduced by FIG in 2012 the extension is in return for having acquired over 1000 sq kms of 3D seismic within the licence area.

 

Argos Resources Limited has a commitment to drill one exploration well within the licence area by the end of the second term of the licence after which a third exploration term of 10 years is available.

 

"We are very pleased that the Falkland Islands’ Government has awarded a licence extension in recognition of the investment we have made in the licence area,” said Mr Ian Thomson, Chairman of Argos.

 

He went on to say that this reflects the collaborative approach we continue to enjoy with the government. While the extension is welcome, it remains our intention to commence exploration drilling at the earliest possible date."

 

More about this item can be found at:

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11543627

 

This article is the Property and Copyright of Falkland Islands News Network.

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