PETROPERÚ Petróleos del Perú : COMMUNICATION

08/05/2020 | 12:37am

PETROPERU addresses public opinion to report the following:

  1. On 15.07.2020, through the letter GPK-OG-PE-2020-LE-82, Geopark Perú S.A.C. has informed us that they have irrevocably chosen to withdraw from the Lot 64 License Agreement, in which they have a 75% interest. This option to withdraw is exercised in application of Clause 8 (c) of the Agreement of Terms and Conditions for Joint Investment in the Morona Block.
  2. In the communication, Geopark Perú SAC indicates that the decision is made after the assumption set forth in Clause 17.5 of the Lot 64 License Contract has occurred, as it is in a situation of force majeure since June 15, 2019, a period that exceeds, by far, the 180 days referred to in the aforementioned Clause.
  3. In accordance with item 13.2 of the Joint Operation Agreement, PETROPERU S.A. has thirty (30) days, counted from the receipt of the notification, to decide whether to fully assume the operation of the License Agreement for Lot 64.
  4. In the coming days, PETROPERU will communicate the actions it will take with regards to Lot 64.

Disclaimer

PETROPERÚ - Petróleos del Perú SA published this content on 25 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2020 04:36:04 UTC

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