Frontera's dispute with Guyana over offshore license could go to court
Toronto-listed Frontera Energy and partner CGX Energy are seeking alternatives to resolve a dispute with Guyana over rights to retain an offshore block where they found oil, but should they fail to reach an agreement, the matter is set to go to an arbitration court, the vice president said. Guyanese Vice President Bharrat Jagdeo said in August the government had opted not to approve the companies' application to appraise a discovery in the block, which would have given them more time with the license, as the South American nation was not confident the firms could find a financial partner. On Thursday, Jagdeo said there was no doubt Frontera and CGX failed to comply with some terms of the license, but if they have a different interpretation, the parties can go through the legal process established in the agreement.