Argos Resources Ltd  


Argos's subsidiary Argos Exploration (previously named Argos Evergreen Limited) was originally incorporated for the purpose of participating in a consortium, led by Amerada Hess, to apply for a petroleum production licence in the first licensing round announced by the Falkland Islands Government in 1995. The consortium was awarded Production Licence PL001 by the Falkland Islands Government on 2 June 1997. The consortium acquired seismic and drilled two wells on the licence. Amerada Hess and the other group members, except Argos, subsequently withdrew from the licence leaving Argos with 100% equity.

Argos entered the second phase of its exploration licence in November 2008. This second of three exploration phases continues to November 24th, 2015. Upon entering the second phase of the licence the Company was required to relinquish 30% of the original licence area. The retained licence area in PL001 covers around 1,126 km2, equivalent to approximately 4 North Sea blocks. The water depth over the licence is between 200m and 500m and therefore not regarded as deep water.

Peer Group
Based In Falkland Islands
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