Trayectoria, a Colombian exploration and production company, will provide cash guarantees of
Trayectoria will also assume the obligation to repay
The agreement means Andes will have six guarantees in place for eight of its blocks acquired in the 2012 licensing round. Andes can take advantage of a further
Upon completion of the funding agreement of
Andes has the option to acquire two Colombian producing blocks from Trayectoria for
If Andes exercises the option to buy the two assets, it will issue a further 15.3 million shares at
The two blocks have the potential to add initial net production of 150 barrels of oil equivalent per day to the company, 1.7 million barrels of oil equivalent of proved and probable reserves, and 60 million barrels of oil equivalent of prospective shale resources, it said.
Trayectoria also will provide financing options or source funds to finance the 3D seismic program committed in the 2012 bidding round. The value of the program is approximately
"The funding of our guarantees in
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
OCTOBER 31, 2014
|Customer Service||Policy||Advertise||Site Tools|
|HispanicBusiness Services||Editorial Guidelines||Ad Specifications||Magazine Archive|
|List Rental Agreement||About Us||Media Kits||Post Your Event|
|HireDiversity Job Search||Editorial Calendar||Research|
© 2014 HispanicBusiness Inc. All Rights Reserved.