Edition:
United States

EPI (Holdings) Ltd Updates On Group's Petroleum Operations In Argentina


Tuesday, 18 Jun 2019 08:21am EDT 

June 18 (Reuters) - EPI (Holdings) Ltd <0689.HK>::UPDATES ON DEVELOPMENT ON GROUP'S PETROLEUM EXPLORATION AND PRODUCTION BUSINESS IN CHAÑARES HERRADOS AREA IN ARGENTINA.EXECUTIVE OF PROVINCE OF MENDOZA HAS ISSUED DECREE IN RESPECT OF TERMINATION OF CHAÑARES HERRADOS AREA (CHE) CONCESSION.DECREE HAS NOT STATED AN EFFECTIVE DATE OF TERMINATION OF CHE EXTENSION.TERMINATION OF CHE EXTENSION UNDER DECREE HAS NO IMMEDIATE IMPACT ON CO'S OPERATIONS, UNTIL THERE IS A SUCCESSFUL BIDDER AFTER BIDDING.LOCAL LEGAL ADVISER INTERPRETS DECREE THAT CONCESSIONAIRE IS ALLOWED TO CONTINUE OPERATING OILFIELD TIL NEW CONCESSIONAIRE TAKES OVER. 

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