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Cybele Energy’s Deadline to Pay Guyana | Guyana News
Ghanaian energy firm Cybele Energy is racing against a July deadline to pay $17 million in a signing bonus for Guyana’s lucrative S7 offshore block—or risk losing the rights forever. Originally promised by early June, the payment remains unpaid, accruing steep default interest. The block, near ExxonMobil’s massive fields and holding 400 million barrels of oil, was meant to kick off drilling within a year. With terms offering a 10% royalty and 50-50 profit split after cost recovery, Cybele’s failure to meet the financial obligation threatens to derail its entire development plan. Listen in…
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