Horizon hits legal snag

HORIZON Oil has said today that it and joint venture partners have received a notice of intention to cancel Petroleum Development Licence No. 10 and Pipeline Licence 10, part of the Western Province gas aggregation scheme in Papua New Guinea. 

Horizon hits legal snag Horizon hits legal snag Horizon hits legal snag Horizon hits legal snag Horizon hits legal snag

Horizon has 30% share in PDL10 (top left corner)

"The petroleum minister subsequently convened a meeting a of the PDL10 joint venture participants to review the development planning on PDL10," Horizon said. 
 
Petroleum minister Fabian Pok committed to take no action before October 1 and until the JV partners had further appraised him on the status of the development planning of PLD10 and the broader Western Province gas aggregation scheme. 
 
Yesterday operator Repsol received further notices from the government that it intends to cancel both PLD10 and PL 10 and gave a notice to terminate the Stanley Gas Agreement for PDL10 on January 4, which together form the purported notices. 
 
The partners have until the 25th of the month ...

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