Argos Announces Result of Annual General Meeting
By J. Brock (FINN)
Argos Resources Limited has announced that at the Annual General Meeting of the Company held in the Falkland Islands on 19 October 2012, all resolutions were duly passed by shareholders.
At the Annual General Meeting, Ian Thomson, Chairman of the Company, made the following statement:
"The Company has made significant progress in interpreting the substantial database of 3D seismic we have acquired and processed. The Competent Person's Report issued in October 2011 was based on fast-tracked processed data. We are now interpreting the final processed version of the seismic data which indicates that many of the existing prospects are larger than reported. In addition a significant number of new leads have been identified which do not fall within the scope of the existing CPR. These are in the process of being mapped in detail and high-graded.
A copy of the presentation to be delivered by John Hogan, Managing Director of the Company, is available on the Company's website - www.argosresources.com. In particular, the presentation highlights two specific examples of this new prospectivity. The first, Tyche, is potentially an extension of Rockhopper's Chatham prospect in the adjacent licence. The second, Big Metis, is a significant upgrade in the resource attributable to the prospect formerly known as Metis, which forms part of the Helios Stack and lies entirely within the Company's licence area.
The Company continues to seek an industry partner for exploration drilling and will issue an update in this regard at the appropriate time."