The recent announcements by Rockhopper PLC and Premier Oil referred to the development of the Sea Lion project in the Falkland Islands, have triggered a reaction from the Argentine foreign ministry.
Oil companies Noble Energy and Edison have decided to relinquish their stakes in the PL001 offshore license in the Falkland Islands according to Offshore Energy Today. Argos Resources had held a 100% in the PL001 block before the two companies’ farm-in back in 2015. Argos’ shares fell 30% following the announcement.
Falklands focused Argos Resources Limited confirmed the completion by its wholly owned subsidiary, Argos Exploration Limited of a farm out agreement with Noble Energy Falklands Limited and Edison International S.p.A in respect of its Licence PL001.
Falkland Islands Argos Resources Ltd posted Friday a narrowed pre-tax loss for the first half, saying it is more confident on the outlook for its farm-out efforts following the recent contracting of the Eirik Raude deep water rig by Noble Energy Inc and Premier Oil PLC.