Perisson Petroleum Corp. has signed an extension for the sale process of its Colombian assets, according to a Jan. 22 press release. (Source: Shutterstock)
Calgary, Alberta-based Perisson Petroleum Corp. has signed an extension for the sale process of its Colombian assets, according to a Jan. 22 press release.
The sale was originally announced in June 2023 but was delayed due to pending formal confirmation regarding the extension of the company's E&P license in Colombia, specifically for Block VMM-17, Perission said.
Colombia's National Hydrocarbons Agency (ANH) has confirmed the extension of the block’s license until Aug. 22, 2027, the company said. The purchase price has now been increased to US$5.125 million (CA$7.36 million) from the previously agreed US$3.75 million.
Additionally, the purchasing parties have placed a guarantee of US$500,400 (CA$718,934) with ANH, Perission said.
The deal also includes the acquisition of 100% of Perisson's related Panama and Venezuelan companies, and the branch office of the Venezuelan entity in Colombia Morichal Sinoco SA Sucursal Colombia.
Morichal Sinoco holds 100% of the working interest in Block VMM-17.
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