Sonde Lifts Force Majeure on Block Offshore Tunisia/Libya
Sonde Resources announced that on August 31, 2011, the Government of Canada repealed its unilateral sanctions against Libya, and further amended the Regulations Implementing the United Nations Resolutions on Libya on September 22, 2011, following the adoption of Resolution 2009 (2011) by the United Nations Security Council ("UNSC"). After careful review of these rulings, and in consultation with the Canadian Foreign Affairs Ministry, Sonde has lifted the Force Majeure declaration it made on June 8, 2011, and intends to resume normal operations on the 7th of November Block.
Sonde has requested a meeting with Joint Oil (the Tunisian-Libyan joint venture responsible for the 7th of November Block) to discuss near-term activities regarding the exploration program for the Block, as well as the plan of development for the previously-announced North Zarat discovery.
Jack Schanck, Sonde's President and CEO, said, "Sonde sincerely regrets the interruption of operations caused by the necessary declaration of Force Majeure, and we are anxious to resume our strong working relationship with Joint Oil and the exploration and development of the large hydrocarbon resource on the 7th of November Block."