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Such expenses by EYK will relate exclusively to hydrocarbons activities, such as natural-gas related infrastructure.
EYK is also about to hire a General Manager, notice for which will be posted by the end of this week, while hirings will take place at two levels -- those with international experience who will actively contribute to the company's operations and young blood with little or no experience who will learn during their employ.
NEGOTIATIONS between state hydrocarbons agency EYK and Noble-Avner over the prospect of channelling natural gas from Israel's Leviathan reserve to Cyprus to secure the viability of constructing a liquefaction terminal in Vassilikos are in good shape, the agency said on Tuesday.
Addressing a news conference on Tuesday, EYK board member Lenas Mylonas said the results of Italian-Korean consortium ENI's planned drilling are also crucial to developing the industry in Cyprus.
EYK chairwoman Toula Onoufriou said all the oil companies in Cyprus are being kept informed of negotiation developments, and noted that apart from the Israel gas the option of moving ahead with the liquefaction terminal with Cyprus' reserves, which are hopefully enough to sustain it, is still there.
So far, Lakkotrypis has overseen the name-change of the state hydrocarbons company, set up by the previous government, from KRETYK to EYK and taken away the powers of the three executive directors on the board, so that he would negotiate directly with Noble Energy instead of them; the three directors subsequently resigned.
At some point in the future, EYK and DEFA may have a meaningful role to play in the economy even though we have serious doubts.
allowing members to redeem or withdraw units from the VBI Fund when it was illiquid in contravention of the Corporations Act and the scheme's constitution between 15 June 2013 to 9 September 2013; and failing to make adequate and timely enquiries in relation to van Eyks monitoring of the VBI Funds investment in Artefact between 18 February 2013 and 21 July 2014 (including not making adequate and timely enquiries as to why a full redemption from Artefact had not been paid between 1 January 2014 to 21 July 2014).
The Van Eyks owed a total of $32,500 (that's the $25,000 plus $7,500 interest).