Argos Resources has successfully secured a 12-month extension to the second term of its Production Licence in the North Falkland Basin, the company announced this week. The extension, which runs until 1 May 2022, was approved by the Falkland Islands Government’s Executive Council on March 24.
Three Falkland Islands sports clubs benefitted from the generosity of local business Argos Ltd with a donation of £25,000 via the Overseas Games Association (FIOGA).
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 oil and exploration company have said that they are extremely well placed to participate in the next round of exploration drilling in the Falklands and they are continuing to consider various ways to finance drilling.
Falklands based Argos Resources expects to drill its first well on license PL001 in the North Falkland basin in late-2011 or early-2012, using the semi submersible rig Ocean Guardian, currently operating in the Islands’ waters.
Argos Resources Limited, the Falkland Islands based hydrocarbons exploration company, has reported that the company has completed the acquisition of 3-D seismic data over the entire area of its PL001 licence in the North Falkland Basin.