Frontera Energy ( (TSE:FEC) ) has provided an announcement.
Frontera Energy and CGX Energy, through their joint venture, have received a notice from the Government of Guyana stating the termination of their Petroleum Agreement and Prospecting License for the Corentyne block offshore Guyana. Despite the government’s position, the joint venture maintains that their interests and license remain valid and seeks an amicable resolution with the government. They are prepared to assert their legal rights if necessary and are eager to continue their investments to benefit both the people of Guyana and their shareholders.
More about Frontera Energy
Frontera Energy Corporation is a Canadian public company engaged in the exploration, development, production, transportation, storage, and sale of oil and natural gas in South America. The company holds a diversified portfolio of assets, including interests in 22 exploration and production blocks across Colombia, Ecuador, and Guyana, as well as pipeline and port facilities in Colombia. Frontera is committed to conducting its operations safely and responsibly. CGX Energy Inc. is a Canadian-based oil and gas exploration company focused on exploring oil in the Guyana-Suriname Basin and developing a deep-water port in Berbice, Guyana.
YTD Price Performance: -19.36%
Average Trading Volume: 24,278
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $373.3M
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