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CruzSur Announces Re-Entry in the Aruchara Well Located in the Maria Conchita Block
CruzSur Announces Re-Entry in the Aruchara Well Located in the Maria Conchita Block ...
About this update from Ng Energy International Corp
[{"type":"text","content":"\n\n\n\nCruzSur Announces Re-Entry in the Aruchara Well Located in the Maria Conchita Block\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Dec. 9, 2019\n\n\n\nVANCOUVER, Dec. 9, 2019 /CNW/ - CruzSur Energy Corp. (the \"Company\" or \"CruzSur\") (TSXV: CZR) announces that the Company intends to re-enter the Aruchara well, located in the Maria Conchita Block located in the region of La Guajira in northern Colombia,  in order to develop short tests to prove the existence of natural gas in the well (\"the Project\")\nIn connection with the project, the Company has arranged a two-year secured loan bearing interest at 15% per annum in the amount of USD$1.6M with various related parties. The lenders have been granted a 2.5% royalty derived from production of the Maria Conchita block and have an option to convert the debt into another 2.5% overriding royalty from the block. \nAbout CruzSur Energy Corp. CruzSur Energy Corp. is a publicly traded E&P company focused on proven oil & gas plays in Latin America. The Company holds a large diversified portfolio of producing, development and unexploited assets in Colombia and Argentina where it will leverage its amplitude of technical expertise and proven track record building companies and creating value.\nForward-Looking InformationExcept for the statements of historical fact, this news release contains \"forward-looking information\" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release.  The information in this news release about the completion of the operations described herein, and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms of such transaction.\nFactors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, risks related to the...