Pacific E&P has made its outstanding payments to its joint venture partner Karoon Gas for its share of the five blocks in the Santos basin, offshore Brazil.
Earlier this week, Karoon called out Pacific by issuing a default notice to the Canadian company, which owns 35% stake in Blocks S‐M‐1037, 1101, 1102, 1165 & 1166.
Karoon, operator and 65% stakeholder, confirmed that the overdue payment had been made and said the matter is now resolved.
The planned Echidna appraisal drilling campaign scheduled for the September 2016.
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