Argentina: Drilling set on San Jorge concession

Crown Point Ventures Ltd., Calgary, has closed a two-part transaction in which it acquired from undisclosed parties 100% interest in an exploitation concession in Argentina’s northwestern Golfo San Jorge basin and 25% interest in an exploration concession in the Neuquen basin.

By OGJ editors
HOUSTON, Jan. 31
– Crown Point Ventures Ltd., Calgary, has closed a two-part transaction in which it acquired from undisclosed parties 100% interest in an exploitation concession in Argentina’s northwestern Golfo San Jorge basin and 25% interest in an exploration concession in the Neuquen basin.

It acquired 100% interest in the 25.57 sq km Canadon Ramirez concession. Included is a recent 190 sq km 3D seismic survey that has been used to map a potential extension of Mata Magallanes Oeste field onto Canadon Ramirez and to define a new pool prospect. Crown Point plans to reenter or drill one to two wells in 2011.

Crown Point also acquired 25% interest in the 975 sq km Laguna de Piedra exploration concession in Neuquen.

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