The acquisition of the interests will be effected through the acquisition by the company of Columbus’ wholly-owned subsidiary, Jaguar E&P CPR Consultants for $25m.
The Copa wells in the eastern Block C of Cubiro, where the company already holds a 25% participating interest, are currently producing approximately 1,800 barrels of oil per day, before deduction of royalties, and this acquisition will increase the company’s share of gross production by almost 600 barrels per day.
The company has also acquired a 10% participating interest over the entire block and a 15% participating interest in the Yamu 1 and Mapuro/Picure 1 exploration prospects on the Yamu E&PC, located in the Llanos Basin.
