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Pacific Rubiales Energy signs oil farm-in agreement for two blocks in Guatemala

Monday, October 18, 2010

Pacific Rubiales Energy said it executed a farm-in agreement with Flamingo Energy Investment, Chx Guatemala Limitada, and Compañía Petrolera del Atlántico, through which the company would earn-in a 55 percent participating interest, as well as operatorship, in the "7-98" contract.

The company also reported exploration success at the Pedernalito-1X exploration well in the Guama Block in northern Colombia.

Under the farm-in agreement, the company would earn its participating interest by executing reprocessing of 500 km of existing 2D seismic data and the drilling of an exploratory well.

Original source: RTT News