Sierra Leone: Elixir hits snag on SL-4

Operator Elixir Petroleum has issued a notice of default to its Block SL-4 partner British Virgin Islands-incorporated Prontinal, after it failed to pay $9m to a seismic contractor. Elixir took over operatorship in February and contracted a 3D seismic survey in March. Elixir, which has a 15% working interest, said Prontinal was in talks with “third party funding sources” to secure the cash and the two companies were working together to resolve the problem. The block was originally awarded to US-based real estate company 8 Investments.