EXPLORATION SLATED ON BOLIVIAN BLOCK

BHP Petroleum (Bolivia) Inc. has taken a farmout on Pan Andean Resources plc's Chapare exploration block in Central Bolivia. BHP initially takes a 30% stake in the 3.5 million acre tract, with Pan Andean, London, retaining 20% and state owned Yacimentos Petroliferos Fiscales Bolivianos (YPFB) holding 50%. YPFB awarded a 30 year operations contract on the block to Pan Andean last May. The Chapare block offsets acreage operated by Maxus Bolivia Inc., declared commercial in May with 30,000

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