Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/by_province/russia/andes-energia-awarded-a-new-exploration-licence-in.shtmlAndes Energia awarded a new exploration licence in Paraguay
The Board of Andes is pleased to announce the award by the Government of Paraguay of new a exploration permit on a block named 'Capitan Mesa',
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The Board of Andes is pleased to announce the award by the Government of Paraguay of new a exploration permit on a block named 'Capitan Mesa', located in the Itapua Department in the southeast region of Paraguay. The exploration block covers an area of 825,000 acres and has been awarded to a 50%/50% consortium between Kilwer S.A., a wholly owned subsidiary of Andes and Integra Natural Resources LLC.
The San Alfredo formation is present in the block, a source of unconventional resources in the region.
Nicolas Mallo Huergo, Chairman of the Company, commented: 'This new exploration block increases our exposure to the unconventional play in the Chaco-Paranaense basin in Paraguay. The market friendly policies of the Paraguayan Government and the prospectivity of the area make us very enthusiastic about the potential of this Country.'
