PetroTal Corp. announced the execution of a definitive agreement to acquire a 100% working interest in Peru's Block 131, including the producing Los Angeles field, through the acquisition of CEPSA Peruana, S.A.C., which represents the entire Peruvian business unit of Compania Española de Petroleos S.A.U., for a purchase price of approximately $5.0 million in cash, subject to adjustment as set out in the Acquisition Agreement. Operational Strategy: PetroTal's management team have identified three near term low risk operational initiatives at Block 131: Identification of bypassed oil for low risk horizontal well locations drilled high on structure; Potential use of hydraulic pumps (vs ESPs) and optimized tubing to reduce operating costs; and, Implementation of an operationally straightforward solution to lower chemical costs from treating asphaltene.
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May. 22 | PetroTal Renews Share Buyback Program; Names New COO and Chief Legal Counsel | MT |
May. 22 | PetroTal Corp. announces an Equity Buyback for 14,600,000 shares, representing 2% for $12 million. | CI |
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-5.06% | 524M | |
+3.53% | 290B | |
-3.88% | 133B | |
+58.85% | 132B | |
+11.77% | 78.33B | |
-2.82% | 68.76B | |
-0.90% | 53.7B | |
+1.16% | 45.84B | |
-11.69% | 35.44B | |
+19.62% | 34.01B |
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- PetroTal Corp. to Acquire a 100% Working Interest in Peru's Block 131