Primera Announces Terms For Petro Andina Trinidad Farm-In

摘要

Petro Andina (Trinidad) Ltd., a wholly-owned subsidiary of Petro Andina Resources Inc., has farmed-into the Cory Moruga 'E' block onshore in south-central Trinidad and will become the operator. The Moruga block is held under an exploration and production licence awarded to Primera Oil and Gas Limited (POGL) by the Republic of Trinidad and Tobago in August 2007. The licence covers approximately 3 012 hectares and is currently held beneficially 75% by POGL and 25% by Primera Energy Resources Ltd. (PERL). The companies have proportionally spent a total of approximately $10 million (U.S.) on the block primarily through the acquisition of 85 square kilometres of full-fold three-dimensional (3-D) seismic data along with other licence requirements.