Search results for: Notice Default

4917 results

A list of search results

  • 2 May 2011
    Business & Finance

    Sterling Resources Ltd.  has filed a Notice of Default with the National Agency of Mineral Resources (“NAMR”) as a result of NAMR’s failure to grant license assignments to Sterling’s farm in partners Petro Ventures Europe BV and Gas Plus International BV  for a 20% and 15% license holding respectively on its Midia and Pelican Blocks […]

  • 15 April 2014

    Neon Energy loses interest in Vietnamese blocks after failing to pay.   KrisEnergy Ltd, an independent upstream oil and gas company, announces the following in relation to its Vietnam contract areas, Block 105-110/04 (“Block 105”) and Block 120:  Eni Vietnam B.V. the operator of Block 105 and Block 120, issued default notices on 7 March […]

  • 29 July 2016

    Karoon Gas Australia has once again served default notices to Pacific Exploration and Production, its joint venture partner in the Santos Basin blocks offshore Brazil, related to overdue payment.  Karoon Gas Australia has 65% operated interest in five Santos Basin Brazil blocks, S‐M‐1037, 1101, 1102, 1165 & 1166, while Pacific holds the remaining 35% interest. The Australian […]

  • 11 December 2017
    Business & Finance, Equipment, Operations & Maintenance, Project & Tenders

    Nautilus has been informed by Fujian Mawei Shipbuilding that MAC Goliath (MAC), the buyer of the production support vessel (PSV) being built for Nautilus’ Solwara 1 subsea mining project, has failed to pay the third installment of the contract price (approximately USD 18 million + interest). Under the shipbuilding contract, MAC is required to rectify […]

  • 2 December 2016

    London-based independent E&P company Panoro Energy is currently in disagreement with its joint venture partners in OML 113 license off Nigeria, which contains the Aje field. The company intends to initiate arbitration and legal proceedings ‘to protect its interests.’ The company, through its fully owned subsidiary, Pan Petroleum Aje Limited (PPAL), holds 6.502% participation interest […]

  • 19 June 2014

    KrisEnergy Ltd., an independent upstream oil and gas company, is soon to acquire an additional 42% share in Indonesia Tanjung Aru PSC.

  • 5 December 2016

    Panoro Energy has initiated legal proceedings and intends to initiate arbitration following a disagreement with its joint venture partners in license OML 113 off Nigeria, which contains the Aje field, regarding a cash call default notice.  On December 2, 2016, Panoro informed of its intention to initiate arbitration and legal proceedings against its joint venture partners in OML […]

  • 14 June 2016

    Karoon Gas Australia has issued a default notice to Pacific Exploration and Production Corp., its joint venture partner in the Santos Basin blocks offshore Brazil, in respect of an overdue payment.  Karoon has 65% interest in five Santos Basin blocks, S‐M‐1037, 1101, 1102, 1165 & 1166, and Pacific holds the remaining 35%. Karoon said the company has issued the […]

  • 11 January 2016

    Norwegian oil company Noreco is exiting an offshore licence that contains the Huntington oil field, located in the UK North Sea.  To remind, in November 2015, Noreco was served a notice of default under the Joint Operating Agreement (JOA) governing the Huntington licence. The default related to non-payment of a cash call under the JOA, and implied […]

  • 4 July 2018
    Business & Finance

    Fujian Mawei Shipbuilding has canceled the construction contract for the Nautilus Minerals’ Production Support Vessel, a part of the Nautilus’ Solwara 1 project located offshore Papua New Guinea. The contract was terminated due to MAC Goliath’s failure to pay the third installment of the contract price. MAC was hired by Nautilus to procure the construction of the PSV on […]

  • 11 May 2015
    Business & Finance

    Two banks have frozen Sainty Marine’s assets, the Chinese shipbuilder said in a filing with Shenzhen stock exchange.   Namely, the Bank of China has frozen its account with balances of RMB 1.06 million (USD 170,800) whereas Export-Import Bank of China (Exim Bank) has frozen a dual-currency account with balances of RMB 22.99 million and USD 2,491.78, the […]

  • 2 November 2015

    Norwegian oil company Noreco might lose its stake in the Huntington offshore oil field. The company has been served a notice of default under the Joint Operating Agreement (JOA) governing the Huntington licence in the UK North Sea. The default relates to non-payment of a cash call under the JOA, and implies that Noreco will no […]

  • 3 July 2017
    Business & Finance

    Houston-based oil and gas company Vaalco Energy received notification on June 28, 2017, from the New York Stock Exchange (NYSE) that the price of the company’s common stock has fallen below the NYSE’s continued listing standard. This is the second time this year that Vaalco has received such a notice. Last time the NYSE sent […]

  • 15 June 2016

    Karoon Gas Australia on Tuesday said it had issued a default notice to Pacific Exploration and Production Corp., its joint venture partner in Brazil, in respect of an overdue payment.   A day later, on Wednesday, Karoon said the issue has been resolved, as Pacific made the overdue payment. Karoon has 65% interest in five Santos Basin blocks, S‐M‐1037, 1101, 1102, […]

  • 6 October 2016
    Business & Finance

    One month after the South Korean shipping giant Hanjin Shipping sought bankruptcy protection, there are a number of important lessons to be learned from the event, according to Norwegian shipping company Torvald Klaveness. Hanjin’s move was earlier described as a “Lehman moment” by Seaspan’s CEO Gerry Wang, as the event has materially impacted the shipping industry. Although the comparison […]

  • 30 December 2013

    QGEP Participações S.A. announces that its wholly owned subsidiary Queiroz Galvão Exploração e Produção S.A. (“QGEP”) received from the Agência Nacional do Petróleo, Gás Natural e Biocombustíveis (ANP) the Notice nº 1845/2013/SDP, dated December 23, 2013, informing that certain measures have been taken in relation, among others, to Block BS-4 in the Santos Basin, offshore […]

  • 13 March 2017
    Business & Finance

    Emas Offshore has been given a notice of termination for the bareboat charter of the pipe lay construction vessel “Lewek Champion” by Hai Jiang 1401, the vessel-owning unit of ICBC Financial Leasing. The vessel has been detained by Huisman Equipment B.V. in Xiamen, China since February 18, 2017. Emas Offshore has defaulted to make payment of around […]

  • 5 May 2016
    Business & Finance, Operations & Maintenance

    IMR and light construction player Harkand has entered into administration after it, earlier this year, defaulted on the payment of its senior secured bond issue and interest, due to insufficient liquidity. As a consequence of default, Nordic Trustee, which acts as bond trustee for the bond issue where Harkand Finance is the issuer, replaced the company’s […]

  • 3 May 2016
    Exploration & Production

    Offshore driller Hercules Offshore, which in November last year emerged from Chapter 11 bankruptcy, has been given a deadline by Sembcorp Marine’s Jurong Shipyard in Singapore to take delivery and pay for the jack-up rig the shipyard is building for Hercules.  The newbuild jack-up rig Hercules Highlander is scheduled to work on Maersk Oil’s Culzean field in […]

  • 16 September 2013

    The International Chamber of Commerce (ICC) has ruled against CBM Asia’s claim on the Kutai II CBM production sharing contract, East Kalimantan. The company had previously written off 100% of its $40,546 investment in the property during the second quarter of 2011. TCBM Asia entered into a partnership with PT Ephindo for initial study of […]

  • 26 May 2016
    Business & Finance

    Athens-based dry bulk shipping company Paragon Shipping has not taken delivery of an Ultramax newbuilding dry bulk carrier, according to a statement from the company. Namely, Paragon Shipping said that it received a notice of default from the Chinese shipbuilder Yangzhou Dayang Shipbuilding Co. Ltd. on May 24 for not taking delivery of the vessel. The company still […]

  • 1 March 2017

    Houston-based oil company Cobalt International Energy is in violation of the listing standard at The New York Stock Exchange (NYSE) with a six month deadline to regain compliance.  Cobalt announced that on February 27, 2017, it was notified by NYSE that the company is no longer in compliance with certain continued listing standards that are applicable […]