President Brent Abadie says he has assurances Costa Rica will pay.
oil companies, including MKJ Xploration, which, along with its partner company Harken Costa Rica, is currently involved in a contract dispute with the Costa Rican Government;
MKJ President Brent Abadie said his company is engaged in discussions with the Nicaraguan Government and has "received assurances that they will fully honor any concession contract." However, he added, the oil company's interest in Nicaragua does not necessarily mean it is ready to pull the plug on its Costa Rican project, into which it has already sunk an estimated US$11 million.
A February auction for a contract to explore some 42,500 square miles of ocean bed has lured MKJ
Xplorations and Empire Energy, said the Nicaraguan Energy Institute (INE); The off-shore areas are believed to have commercial potential based on a 1999 study of the region, said Mauricio Darce, adding, "We know that there's oil, but what we want to prove is that it exists in saleable quantities";
Xplorations is conducting off the Atlantic port of Moin, voicing concern that seismic testing will disturb marine wildlife along the Caribbean coast, reports The Tico Times (December 10, 1999):