Pt. Thomson Update

Some leases are still in jeopardy as Exxon moves forward with work at Pt. Thomson. (LINK)

The state maintains that, on most of the leases, the companies have breached their contractual obligation to develop and that exploration and development rights are terminated.

"Exxon has two leases. That's it," Banks said. (acting director of the Alaska Division of Oil and Gas.)

Irwin has yet to make a final ruling on the administrative appeals to keep the other leases, and the earliest he would decide would be April, Banks said. In all, the companies filed eight administrative or legal challenges to the state decision to terminate the Point Thomson unit and cancel the leases.