Interoil Announces Farm-Out of LLA-47

Source: www.gulfoilandgas.com 2/29/2012, Location: South America

InterOil E&P ASA has entered into a binding Letter of Intent to farm-out 50% of block LLA-47 in Colombia to PetroMagdalena Energy Corp. InterOil E&P ASA will remain operator.

"We are extremely pleased to have PetroMagdalena (PM) as a partner in this block. PM has extensive experience of the geology and prospectivity in the Llanos basin, which will bring valuable input to the joint-development program. Our common strategy is to start seismic work in 2012, followed by a back to back drilling program of 3 wells", explains Marten Rod, IOX chairman.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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