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Govt. makes move to cancel CGX, Frontera Corentyne block license in 30 days
Govt. sends 30-days notice to CGX, Frontera signaling intentions to cancel its Corentyne Block license
Kaieteur News- CGX Energy Inc. and Frontera Energy Corporation joint venture today reported that the Government of Guyana has sent a letter indicating that the license, together with the Joint Venture’s Petroleum Agreement with the Government for the Corentyne Block have been terminated.
Govt. makes move cancel CGX, Frontera Corentyne block license in 30 days
“…In the opinion of the Government, there are no reasonable grounds to grant any extensions to the Joint Venture in respect of its appraisal or exploration obligations under the License or the Petroleum Agreement. Furthermore, the Government says that, if it is determined that the License has continued, or that the Joint Venture holds any other type of license contemplated by applicable legislation, the Letter serves as a 30-day notice of the Government’s intention to cancel such license,” the companies revealed in a joint statement.
(Govt. makes move to cancel CGX, Frontera Corentyne block license in 30 days)
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