Falkland Islands based company, Argos Resources Ltd. said it has received notification from Noble Energy, the operator of license PL001 in which Argos holds a 5% overriding royalty interest, that it is exercising its rights to declare Force Majeure on the well.
Rockhopper Exploration which has a joint venture agreement with Premier Oil offshore the Falkland Islands, described the oil exploration campaign now terminated as a 'huge success' and underlines the postponement of the Chatham well drilling will have no impact on the Field Development Plan for the Sea Lion oil discovery development.
The Falkland Islands government and Premier Oil have announced on Friday the ocean rig 'Eirik Raude' contract termination, which in practical terms puts an end to the current exploratory campaign and the scheduled drilling of the Chatham well. Nevertheless both sides underlined the success of the now terminated campaign with the oil discoveries at the Zebedee and Isobel Deep prospects in the North Falkland basin and look forward to continue working in the near future.
Rockhopper Exploration flagship project, offshore the Falkland Islands the Sea Lion oil field development, continues to advance despite the recent slump in crude prices.
By Jaime Trobo (*) - For some time now we have been arguing that Uruguay must strengthen its bonds and contacts with a neighboring territory, in the southern cone, part of our American continent, where families who arrived in our region during the first half of the XIX century live, and with whom those contacts, once very intense, have waned, particularly in the last decades.
While investors cheered progress on last week's arduous negotiations in New York between Argentine government officials and litigant investors, the administration of president Mauricio Macri still faces an uphill battle as it works to bring other holdouts on board.
The United States gave another sign of support for Argentina’s economic policies as US Treasury Secretary Jacob Lew spoke on the phone with Finance Minister Alfonso Prat-Gay, striking an optimistic tone regarding the settlement offer made to the holdout funds in New York.
Daniel A. Pollack, Special Master presiding over settlement negotiations between the Republic of Argentina and its “holdout” Bondholders issued the following statement today (Friday, Jan 5):
The latest report from the United States Labor Department for January showed job gains slowed more than expected as the boost to hiring from unseasonably mild weather faded last month. However unemployment dropped to 4.9% of the workforce, the lowest in almost eight years.
Argentina offered a $6.5 billion cash payment to creditors suing the country over defaulted bonds on Friday, seeking to end an exhausting 14-year legal battle, the sovereign debt trial of the century, that transformed the country into a financial markets pariah. Two out of six leading bondholders have already accepted the offer, the U.S. court-appointed mediator said, hailing the proposal by Argentina's new, business-friendly government as an historic breakthrough.