Assets

Philippines

The Group (through its wholly owned subsidiary HALO BV) holds a 15% interest in Service Contract SC54A in the NW Palawan Basin, offshore Philippines. The project holds a number of undeveloped oil discoveries.

The license is currently suspended pending the lifting of a drilling moratorium in the West Philippine Sea and therefore HALO does not need to participate in any material capital expenditure programs. The suspension period ends on 4th August 2020, at which time the partners must elect to enter a new licence period or relinquish the licence.