Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/geopark-signs-seven-new-exploration-licenses-in-br.shtmlGeopark signs seven new exploration licenses in Brazil
GeoPark Limited has now formally signed the following exploration licenses with the Brazilian National Petroleum, National
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GeoPark Limited has now formally signed the following exploration licenses with the Brazilian National Petroleum, National Gas and Biofuels Agency (ANP) as part of the Brazilian Licensing Round 11:
In the Reconcavo Basin in the State of Bahia:
Block REC-T 85 Block REC-T 94 In the Potiguar Basin in the State of Rio Grande do Norte:
Block POT-T 664 Block POT-T 665 Block POT-T 619 Block POT-T 620 Block POT-T 663
Regarding its winning bids on the seven blocks, GeoPark has committed to invest a minimum of US$15.3 million (including bonus and work program commitment) during the next three years which will constitute the exploratory period. The new blocks cover an area of approximately 54,850 acres.
In May 2013, GeoPark also agreed to acquire Rio das Contas from Panoro Energy ASA, which holds a 10% working interest in the shallow offshore Manati Field, the largest non-associated gas field in Brazil. This acquisition is subject to the approval of the ANP, among other regulatory authorities, and it is expected to complete by the end of 2013.
