Sea Lion Phase 1 Suspended13 May 2020 08:24
In the Falkland Islands, Premier has taken the decision to suspend Sea Lion Phase 1 to minimise ongoing spend in light of the current market conditions. Sea Lion Phase 1 is complete from a technical aspect and all of the work which has been done to date is being fully documented, such that the project can be reactivated once the macroeconomic outlook improves. A reduced team will continue to progress government, commercial and financing matters including the transaction documentation with Navitas who remain committed to farming in for a 30 per cent interest in the Sea Lion licences.