JPDA 06-103 Joint Venture

Further to the Announcement of 14 May 2015, Oilex Ltd (“Oilex”), in its capacity as Operator, on behalf of the Joint Venture Participants in the Joint Petroleum Development Area (“JPDA”) 06-103 Production Sharing Contract (“PSC”) has received a Notice of Termination and Demand for Payment (“Notice”) from the Autoridade Nacional do Petroleo (“ANP”).  

The Notice accords with details set out in the previous Announcement. 

The parties continue to discuss the financial liability of the Contractor upon termination.

JPDA 06-103 Response to Termination Notice