Eric Watkins
Senior Correspondent
LOS ANGELES, Sept. 13 -- Hunt Oil Co., Dallas, has purchased Shona Energy Co.'s 43.75% stake in a contract for exploration and exploitation of Block 102 in Peru's Maranon basin, according to state media.
Peru's official Andina news agency, citing Hunt Oil's Carlos del Solar, said the firm will explore Block 102 in partnership with Ramshorn International and Andean Oil & Gas.
Ramshorn, Shona, and Andean were awarded the 30-year oil concession and 40-year natural gas concession for Block 102 in December 2005.
Andina said the entrance of Hunt Oil into the partnership will require modification of the exploration contract signed with Peru and will also require approval by state oil sector promotion agency Perupetro.
Under the modified contract, Ramshorn will also hold a 43.75% stake in the concession, while Andean will hold 12.5%.
Last month the Peruvian unit of Loon Energy Inc., Calgary, formally signed the exploration license contract for Block 127 in the Maranon basin (OGJ Online, Aug. 22, 2007).
Earlier in July Perupetro awarded Pacific Stratus Energy Ltd., Toronto, Blocks 135, 137, and 138 in the basin (OGJ Online, July 13, 2007).
Contact Eric Watkins at [email protected].
