Area Drilling

ArgentinaGold Point Energy Corp., Vancouver, BC, took farmouts from APCO Argentina Inc., Tulsa, Okla., and Antrim Energy Inc., Calgary, on the Capricorn License (Yacimiento Norte 1/B Block) in northern Argentina.GP Energy committed to pay 50% of a $1 million, 60 sq km 3D seismic program (completed in August 2006) and 50% of a $2 million, 2,300-m exploration well to earn a 25% working interest in the Martinez del Tineo Oeste Prospect.The prospect, on the Cretaceous Yacoraite oil trend, covers 54 sq km of the 4,008 sq km Capricorn License. The well is to be drilled in the first half of 2007.After the prospect is drilled, GP Energy will have the option to earn a 25% interest in the entire bl...

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