By Pierre Bertrand
Argos Resources said Tuesday that the government of the Falkland Islands has agreed to the transfer of Argos’s PL001 production license interests in the North Falkland Basin to JHI Associates.
The oil-and-gas exploration company said both companies are working toward completing a license acquisition agreement in the coming days. If the agreement is reached before Argos’s general meeting on Friday, and if shareholders agree to the proposed resolutions, the company will immediately go into members voluntary liquidation after the meeting.
If the liquidation takes place Friday, Argos’s shares will be cancelled from admission to trading on the Alternative Investment Market effective Sept. 26.
The company added that it will provide further updates on the matter on Monday.
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