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PentaNova Energy and YPF, Argentina's National Oil Producer, to Jointly Develop One of Country's Largest Heavy Oil Fields
PentaNova Energy and YPF, Argentina's National Oil Producer, to Jointly Develop One of Cou...
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[{"type":"text","content":"\n\n\n\nPentaNova Energy and YPF, Argentina's National Oil Producer, to Jointly Develop One of Country's Largest Heavy Oil Fields\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Nov. 13, 2017\n\n\n\nSeptember Production 753 boed; Workover and Reactivation Continues on 29 future wells\n\n\n\nVANCOUVER, Nov. 13, 2017 /CNW/ - PentaNova Energy Corp. (the \"Company\") (TSXV: PNO), which seeks to become Latin America's next significant oil and gas developer, is pleased to announce operational advances on its Colombian and Argentine properties. \n\nSeptember 2017 Production in Argentina Averages 753 boed\n\nPentaNova reports September 2017 production in Argentina of 753 boepd, from 52 active wells. This includes 498 bopd from the Llancanelo heavy oil block where the Company holds a 39% working interest, and 208 boepd from the Mariposa gas block in the San Jorge Basin of Argentina in which the Company holds an 18% interest, and 47 bopd from the KM8 field in which the Company holds a 100% interest. A further 29 wells in the Argentina's KM8 property have been developed to be prepared for workover and reactivation.\n\nNegotiations Finalized to Move to the Full 50% Working Interest to Develop Argentina's Llancanelo Heavy Oil Field in Partnership With YPF, Argentina's National Oil Producer\n\nPentaNova has now completed the negotiations to complete the planned move to 50% working interest in the Llancanelo field through its fully owned subsidiary, Alianza Petrolera, through which it already holds a 29% working interest. The Company has also finalized the transfer of the 10% working interest acquired through the Roch Acquisition as announced in the Company´s May 3, 2017 press release. Additionally, the Company has completed negotiations with YPF, Argentina's largest energy producer, to farm-in on an additional 11% working interest in the block.  The farm-in terms include an initial period of up to 6 months for the partners to complete a joint planning and evaluation program to complete the full developm...