Extension of Falkland Islands Production Licence
Source: www.gulfoilandgas.com 12/15/2022, Location: South America
Argos Resources Limited (ARL) (ARG.L), the Falkland Islands based exploration company focused on the North Falkland Basin, is pleased to announce the planned extension of its Production Licence PL001
to 31 December 2024.
The Licence was due to expire on the 31 December 2022. After applying for a two-year extension, the Company is pleased to have received confirmation from the Falkland Islands Government that the Licence will be extended to 31 December 2024.
The Company intends to undertake 3D seismic reprocessing and has a commitment to drill one exploration well within the Licence area by the end of the second term of the Licence.
