{"id":8437,"date":"2020-06-26T09:40:27","date_gmt":"2020-06-26T09:40:27","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=8437"},"modified":"2020-06-26T09:40:27","modified_gmt":"2020-06-26T09:40:27","slug":"kenya-far-pancontinental-reach-settlement-ahead-of-block-l6-exit","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/kenya-far-pancontinental-reach-settlement-ahead-of-block-l6-exit\/","title":{"rendered":"Kenya: FAR, Pancontinental Reach Settlement Ahead of Block L6 Exit"},"content":{"rendered":"

Pancontinental Oil & Gas NL and its subsidiary Afrex Ltd has announced that it has reached an agreement with Block L6 operator Flow Energy Pty Ltd (subsidiary of FAR) in response to default notices<\/a> received from FAR Limited.<\/p>\n

According to Pancontinental the settlement in this long standing matter with FAR involves the company making a payment of US $150,000 \u00a0into a nominated account of Operator Flow Energy Pty Ltd (subsidiary of FAR) as full and final settlement of any and all outstanding cash calls
\nrelating to Kenya Block L6. The amount which was the subject of the 2020 Default Notices totals US $567,145.80.<\/p>\n

The parties will then execute the Surrender and Termination Agreement, to start the process of exiting from Kenya L6 as had earlier been announced<\/a> by the operator.<\/p>\n","protected":false},"excerpt":{"rendered":"

Pancontinental Oil & Gas NL and its subsidiary Afrex Ltd has announced that it has reached an agreement with Block L6 operator Flow Energy Pty Ltd (subsidiary of FAR) in … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7443,11],"tags":[62,313,867,904,1960],"class_list":["post-8437","post","type-post","status-publish","format-standard","hentry","category-countries","category-eastern-africa","category-top-news","tag-afrex","tag-block-l6","tag-far","tag-flow-energy","tag-pancontinental","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2c5","jetpack-related-posts":[{"id":482,"url":"https:\/\/www.oilnewskenya.com\/index.php\/pancontinental-onshore-kenya-l6-farmed-out-for-seismic-and-drilling\/","url_meta":{"origin":8437,"position":0},"title":"PanContinental: Onshore Kenya L6 Farmed-Out For Seismic and Drilling","author":"Samuel Kamau Mbote","date":"February 10, 2014","format":false,"excerpt":"Pancontinental Oil & Gas and its wholly owned subsidiary Afrex Limited (together\u00a0\u201cPancontinental\u201d) has entered a farm-in\u00a0agreement for the onshore portion of Kenyan exploration area Block L6 in the Lamu Basin. Block L6 is partly onshore and partly offshore. Under the terms agreed with farminee Milio E&P Limited (\u201cMilio\u201d) and Milio\u00a0International\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/02\/pancontinental.png?fit=505%2C508&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4310,"url":"https:\/\/www.oilnewskenya.com\/index.php\/kenyas-block-l6-jv-partners-far-pancontinental-oil-gas-clash-over-cash-calls\/","url_meta":{"origin":8437,"position":1},"title":"Kenya\u2019s Block L6 JV partners FAR, PanContinental Oil & Gas Clash Over Cash Calls","author":"","date":"February 1, 2016","format":false,"excerpt":"Kenya\u2019s Block L6 operator Australia\u2019s Far has said it issued a default notice to it\u2019s 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. \u201cUnder the\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Block-L6-new.jpg?fit=900%2C720&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Block-L6-new.jpg?fit=900%2C720&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Block-L6-new.jpg?fit=900%2C720&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Block-L6-new.jpg?fit=900%2C720&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":8147,"url":"https:\/\/www.oilnewskenya.com\/index.php\/far-jv-partners-to-exit-kenyas-block-l6\/","url_meta":{"origin":8437,"position":2},"title":"FAR, JV Partners to Exit Kenya\u2019s Block L6","author":"","date":"April 30, 2020","format":false,"excerpt":"FAR the block operator to Kenya\u2019s Block L6 and JV Partners , PanContinental Oil & Gas and its wholly owned subsidiary\u00a0Afrex\u00a0Limited have resolved to surrender the block according to an announcement by the Austalian company. FAR however says despite the resolve no resolution has been passed and discussions are underway\u2026","rel":"","context":"In "Eastern Africa"","block_context":{"text":"Eastern Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/eastern-africa\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8598,"url":"https:\/\/www.oilnewskenya.com\/index.php\/far-provides-update-for-senegal-gambia-guinea-bissau-and-kenya\/","url_meta":{"origin":8437,"position":3},"title":"FAR Provides Update for Senegal, Gambia, Guinea-Bissau and Kenya","author":"","date":"July 16, 2020","format":false,"excerpt":"Senegal Rufisque, Sangomar and Sangomar Deep (RSSD) (FAR 15% Working Interest) Over the past three months, the Operator has been undertaking a program to rescope, reschedule and reprice the Sangomar Field Development project in order to reduce capital expenditure to ease the pressure on financing or the development. As previously\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/FAR.jpg?fit=500%2C500&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":6277,"url":"https:\/\/www.oilnewskenya.com\/index.php\/insecurity-hampers-operations-kenyas-block-l6\/","url_meta":{"origin":8437,"position":4},"title":"Insecurity Hampers Operations in Kenya\u2019s Block L6","author":"","date":"September 8, 2017","format":false,"excerpt":"Australian explorer and block L6 onshore operator FAR Ltd has formally notified the Ministry of Energy & Petroleum in Kenya of a force majeure event over Block L6 according to its latest half year results communication to shareholders. The 14 July 2017 notification highlights challenges the company is facing in\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/block-l6.jpg?fit=900%2C720&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/block-l6.jpg?fit=900%2C720&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/block-l6.jpg?fit=900%2C720&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/block-l6.jpg?fit=900%2C720&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1241,"url":"https:\/\/www.oilnewskenya.com\/index.php\/far-to-reduce-its-stake-to-under-25-in-kenyas-block-l6\/","url_meta":{"origin":8437,"position":5},"title":"Far to reduce its stake to under 25% in Kenya\u2019s block L6","author":"Samuel Kamau Mbote","date":"June 17, 2014","format":false,"excerpt":"Australian explorer which has a 60 percent equity position and operates block L6 and a 30% equity position in the L9 block in Lamu may be looking into reducing their stake in Block L6 to less than 25 percent. According to Bloomberg FAR has already started to share its data\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/block-l6.jpg?fit=900%2C720&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/block-l6.jpg?fit=900%2C720&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/block-l6.jpg?fit=900%2C720&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/block-l6.jpg?fit=900%2C720&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/8437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=8437"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/8437\/revisions"}],"predecessor-version":[{"id":8438,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/8437\/revisions\/8438"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=8437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=8437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=8437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}