Press Release: Oilex JV receives termination notice for JPDA 06-103 PSC Timor Leste

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 Intent to Terminate the PSC from the Autoridade Nacional do Petroleo (‘ANP’).  The Notice follows on from the recent rejection by the ANP of the Joint Venture Request to Terminate the PSC by mutual agreement, in good standing and without penalty, as reported by Africa…

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