Frontera Energy falls after Guyana cancels Corentyne block prospecting license

CGX Energy

13/03/2025 18:52

** Shares of Canadian oil producer Frontera Energy FEC.TO fall 1.2% to C$6.74

** Guyana's government cancels Frontera and CGX Energy OYL.V joint venture's prospecting license for the Corentyne block

** In February, Guyana gave a 30-day notice to CGX and FEC for cancellation of the license

** "The joint venture remains firmly of the view that its interests in, and the license for, the Corentyne block remain in place and in good standing and that the petroleum agreement has not been terminated" - a joint statement by the companies

** Including sessions moves, stock down 21.9% YTD

 (Reporting by Pooja Menon in Bengaluru)

 ((Pooja.Menon@thomsonreuters.com;))