09:24 AM EDT, 03/13/2025 (MT Newswires) -- CGX Energy (OYL.V) and Frontera Energy (FEC.TO) on Thursday said their joint venture received notice from the government of Guyana that it canceled the Petroleum Agreement and Prospecting Licence.

The joint venture said it 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."

The JV said it continues to invite the Guyana government to amicably resolve the issues affecting the JV's investments in the Corentyne block and added that the JV would prepare to assert their legal rights if the parties do not reach a mutually agreeable solution.

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