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Watching The World: Thumbs up, Colombia

05/10/2010
International oil and gas companies are drawing a bead on Colombia, seeing a sign of change in the country that says: Open for Business. It's a sign that's long overdue.Benchmark Energy Corp. has already seen the sign, last week announcing that it entered into a "definitive amalgamation agreement" with Bolivar Energy Inc., a private Alberta corporation focused on exploration and development in Colombia.Under the agreement, Benchmark will acquire all of the outstanding shares of Bolivar; both firms expect the acquisition to be completed by the end of June. Bolivar is party to a farmin agreement regarding Block LLA-24 in Colombia's Llanos basin, and may earn a 35% working interest...
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