2009-08-19-2007-08-01-2007-08-01

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
0MM
Description

Exploration blocks

Pacific Stratus Energy Ltd., Toronto, (Toronto: PSE) has been awarded blocks 135, 137 and 138 in Peru from Lima, Peru-based Perupetro for an undisclosed price. The blocks total 1.9 million hectares in the Maranon Basin. The commitments for the first exploration phase include regional studies and seismic acquisition. Upon the successful completion of the first phase, the company has the option to continue the program with additional seismic acquisition and drilling one well per block. Pacific Stratus chief executive Jose Francisco Arata says, "The Maranon Basin is a well-known, prolific hydrocarbon-bearing area with very attractive geological prospects and access to the Pacific Ocean and the growing Asian markets. Peru is a stable democracy, with a business-friendly government, offering very attractive legal and fiscal terms."