#block l6

Kenya’s Block L6 JV partners FAR, PanContinental Oil & Gas Clash Over Cash Calls

Kenya’s Block L6 operator Australia’s Far has said it issued a default notice to it’s partner in the L6 Joint Venture (Pancontinental Oil and Gas) for continued failure to pay two cash calls from 12 Feb 2015 although the latter has disputed the notices in a new statement.

“Under the terms of the Joint Operating Agreement, FAR has issued a default notice to it’s partner in the L6 Joint Venture…

Milio International, Pancontinental Oil and Gas planning 2D seismic Kenya’s onshore Block L6

Block L6 operator Dubai based Milio International is in the process of planning for the seismic acquisition  and is currently coordinating with local authorities according to JV partner Pancontinental Oil and Gas.

This is part of a farm-out agreement where Milio negotiated entry into the onshore area of block L6 in Kenya to earn a 60% interest in exchange for a 2D seismic programme of not less…

Pancontinental Oil & Gas, PTTEP Withdraw from Kenya’s Block L10A

Pancontinental Oil & Gas and its L10A joint venture partner PTTEP of Thailand have issued Operator BG Kenya L10A Limited notices of withdrawal from Block L10A in the Lamu Basin offshore Kenya.

  This is subject to Ministerial consent where Pancontinental’s 18.75% interest and PTTEP’s 31.25% interest will be transferred to the Operator BG who will then be the only remaining participant and hold…

2D seismic survey in Kenya’s Onshore Block L6 expected in Q2 2015

Milio International is expected to acquire 2D seismic onshore Block L6 after a defferement due to security concerns the Block Operator FAR Ltd has said.

The announcement made on the company’s annual report also estimates that following the interpretation of the data acquired the partners should proceed with drilling in early 2016.

Already the Government of Kenya has awarded the joint venture a…

Kenya’s Block L6 farmout pushed further to late 2015

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Block L6 operator Australian explorer Far Ltd has said it does not expect a farmout deal on the northern extent of the block until late in 2015.

In the offshore portion where the company holds 60 percent paying interest Far says it continues to progress with a farmout initiative.

The deal was initially expected to occur in the third quarter of 2014 before it was later pushed…

Pancontinental Oil and Gas seeks farminee in Kenyan blocks

Australian explorer Pancontinental Oil and Gas has said it is seeking farminee for additional drilling post-Sunbird discovery in blocks L10A & L010B.

The company that owns 18.75 percent interest in block L10A and 25% interest in L10B in its latest report says that it plans to conduct follow-up drilling in 2015 having announced Kenya’s first offshore oil discovery in the beginning of the year.

Cur…

FAR farmout deal in Block L6 unlikely in 2014

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Australian explorer FAR Ltd has said that its expected farmout in Block L6 where the company has a 60% interest is unlikely to happen in 2014.

In the latest report FAR says the L6 farmout is likely to happen in early 2015 an extension from the earlier expected October date.

The farmout is expected to fund the drilling of an offshore well that is set for 2015. The well follows…

FAR Ltd announces trading halt ahead of major announcement

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The securities of FAR Limited will be placed in Trading Halt Session State from the commencement of trading starting today at the request of the Company, pending the release of an announcement by the Company.

Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the earlier of the commencement of normal trading on Wednesday, 8 October…