By OGJ editors
HOUSTON, Jan. 7 – Crown Point Ventures Ltd., Vancouver, BC, plans to close in mid-January 2011 acquisition from an undisclosed seller of a 100% interest in a 25.57 sq km exploitation concession in Argentina’s northern Golfo San Jorge basin in Chubut Province.
The Canadon Ramirez acquisition comes with a recent 190 sq km 3D seismic program over the entire concession and Mata Magallanes Oeste and Este fields. This seismic has been used to map an extension of Mata Magallanes Oeste field and define a potential new pool prospect on the concession. A 15% provincial royalty applies.