Petrominerales Ltd. is pleased to provide an update on exploration activities highlighted by Candelilla-3 initial production of over 15,600 barrels of oil per day (“bopd”). We are also pleased to announce that we are casing Capybara-1 as a potential oil well.
PETROMINERALES AND VERAZ PETROLEUM ANNOUNCE ELECTION ON BLOCK 126 AND PROVIDE PERU OPERATIONAL UPDATE
Petrominerales Ltd. and Veraz Petroleum Ltd. (Petrominerales and Veraz collectively referred to herein as the “Companies”) are pleased to announce that pursuant to the Purchase and Sale Agreement signed November 19, 2008, Petrominerales has elected to forgive the USD $9.0 million loan facility that was advanced to Veraz and retain its 55% working interest in Block 126. The Companies are now working jointly on advancing the exploration activities on Block 126 in east central Peru to the drilling stage.
PANANDEAN SHAREHOLDERS VOTE IN FAVOUR OF ACQUISITION BY PETROMINERALES
Petrominerales Ltd. is pleased to announce that 99.78% of the shareholders of PanAndean Resources plc (“PanAndean”) (AIM:PRE) that voted in person or by proxy at today’s special meeting of PanAndean shareholders voted in favour Petrominerales’ previously announced acquisition of all of the outstanding shares of PanAndean.
PETROMINERALES TO CASE CANDELILLA-3 AS POTENTIAL OIL WELL
Petrominerales Ltd. is pleased to provide an update on exploration activities highlighted by the decision to case Candelilla-3 as a potential oil well.
PETROMINERALES FILES ANNUAL INFORMATION FORM
Petrominerales Ltd. is pleased to announce that we have filed our 2009 Annual Information Form. The Annual Information Form includes Petrominerales’ reserves data and other oil and gas information for the period ended December 31, 2009, as mandated by National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators. Copies of Petrominerales’ 2009 Annual Information Form may be obtained from Petrominerales’ website at www.petrominerales.com, on the SEDAR website at www.sedar.com, or by emailing Petrominerales at ir@petrominerales.com.
PETROMINERALES REPORTS FOURTH QUARTER NET INCOME OF US$0.51 PER SHARE AND FUNDS FLOW FROM OPERATIONS OF US$1.03 PER SHARE
Petrominerales Ltd. is pleased to announce 2009 fourth quarter financial and operating results highlighted by fourth quarter net income of US$0.51 per share and funds flow from operations of US$1.03 per share.