Trinidad

Petro Andina Resources Inc., Calgary, took a farmout on the Cory Moruga E block in south-central Trinidad from Primera Energy Resources Ltd. and Primera Oil & Gas Ltd.

By OGJ editors
HOUSTON, Sept. 17
– Petro Andina Resources Inc., Calgary, took a farmout on the Cory Moruga E block in south-central Trinidad from Primera Energy Resources Ltd. and Primera Oil & Gas Ltd.

The farmout requires Petro Andina to drill two exploration wells to at least 3,200 m, the first of which is to spud before Feb. 28, 2010, to earn a 50% working interest in the 7,443-acre, oil-prone block. Petro Andina is to pay 95% of costs to a maximum of $13.3 million.

Ministry approval is to be sought for the farmout and for Petro Andina to be named block operator.

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