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Petrolifera Petroleum signs Sierra Nevada 2 TEA
Petrolifera Petroleum signs Sierra Nevada 2 TEA.
About this update from Medexus Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\nCALGARY, Sept. 19 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX)\nannounced today that the Company has signed the Sierra Nevada 2 Technical\nEvaluation Agreement ("SN2 TEA") with ANH, the government agency of Colombia\nthat handles the negotiations for oil and gas exploration contracts. The SN2\nTEA covers lands and rights adjacent to and to the north, east and southeast\nof the Sierra Nevada 1 License, which was previously awarded to Petrolifera.\n\n\nThe SN2 TEA is 879,100 acres (38 townships) in size and is located in the\nLower Magdalena Basin. It offsets known crude oil and natural gas\naccumulations. The 14 month work commitment associated with this TEA is the\nreprocessing of 650 kilometers of seismic and the completion of geological and\ngeophysical studies.\n\n\nWith the signing of this TEA, Petrolifera now controls approximately\n1.2 million acres in Colombia.\n\n\nPetrolifera Petroleum Limited is a Calgary-based crude oil and natural\ngas exploration, development and production company. It is active in the\nNeuquen Basin, Argentina; in the Maranon and Ucayali Basins onshore Peru; and\nholds concessions onshore Colombia. The company's shares are listed for\ntrading on the Toronto Stock Exchange under the symbol PDP.\n\n\nFORWARD LOOKING STATEMENTS\n\n\nThis press release contains forward-looking statements, including but not\nlimited to future exploration and development plans and work programs. These\nstatements are based on current expectations that involve a number of risks\nand uncertainties, which could cause actual results to differ materially from\nthose anticipated. These risks include, but are not limited to risks\nassociated with the oil and gas industry (e.g. operational risks in\ndevelopment, exploration and production, delays or changes in plans with\nrespect to exploration or development projects or capital expenditures; the\nuncertainty of reserve estimates; the uncertainty of estimates and projections\nin relation to production, costs and expenses and health, safety and\nenvironmental risks), the risk of commodity price and foreign exchange rate\nfluctuations, the uncertainty associated with negotiating with foreign\ngovernments and risk associated with international activity. Additional risks\nand uncertainties are described in the company's Annual Information Form which\nis filed ...