Cynic ihavenoclue not alone16 Mar 2006 18:09
BNAmericas Tuesday, August 16, 2005
Canadian oil company Petrobank (TSE: PBG) is in talks with Colombia's hydrocarbons regulator ANH for a new exploration contract and three technical evaluation agreements (TEAs) in the Llanos basin, the company said in its Q2 earnings statement Monday.
Discussions began at the end of Q2, Petrobank president and CEO John Wright told BNamericas.
Petrobank has recently signed three exploration contracts with the ANH for the Joropo, Corcel and Casanare Este blocks and one TEA for the Garcero Oeste block. These properties cover a total 272,207ha in the Llanos basin.
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The company is also awaiting final approval on a fourth exploration contract for the 13,660ha Las Águilas block - previously referred to as Palmitos B block - adjacent to the Orito block in the Putumayo region. Approval is expected shortly, Wright said.
If all negotiations are successful, Petrobank will end up holding a total of five explorations licenses and four TEAs in Colombia, Wright said.
Also a delay!!!