Brookwater Provides Update on Block 166

Source: www.gulfoilandgas.com 5/2/2013, Location: South America

Brookwater Ventures Inc. reports that the operator of block 166 in the Reconcavo Basin in Brazil has commenced arbitration proceedings against Brookwater's wholly owned subsidiary, Agua Grande Exploracao e Producao de Petroleo Ltda. ("Agua Grande"), related to alleged non-payment by Agua Grande of certain cash calls in excess of $3,000,000.

Brookwater is reviewing the arbitration notice and will respond in due course.

For more information about related Opportunities and Key Players visit Brazil Oil and Gas Projects


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