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Pacific Rubiales announces cdn$1.60 per share all-cash acquisition of petromagdalena energy
Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC; BOVESPA: PREB) today announced that it has entered into a definitive agreement (the "Arrangement Agreement") with PetroMagdalena Energy Corp. (TSX-V: PMD) pursuant to which the Company has agreed to acquire all of the issued and outstanding common shares in the capital of PetroMagdalena by way of a Plan of
Arrangement under the British Columbia Business Corporations Act (the "Arrangement").

date.png06 Jun 2012 11:38 | comments.png 0 Comments | tags.png colombia deals pacific-rubiales petromagdalena upstream [ More ]

PetroMagdalena announces opening of blockade at Cubiro in the province of Casanare
PetroMagdalena Energy Corp. (TSXV: PMD) announced today the potential resolution of a blockade in our Cubiro Block located in the province of Casanare. In previous days there was an illegal protest where public roads in the province of Casanare were being blocked and this led to a lack of public order in the area. Rig operations were interrupted and trucking operations were also halted which impacted production schedules.

date.png23 May 2012 18:38 | comments.png 0 Comments | tags.png colombia petromagdalena s-america upstream [ More ]

PetroMagdalena announces resumption of operations in the province of Casanare
PetroMagdalena Energy Corp. (TSX-V: PMD-V) announces that production operations have resumed at its Cubiro Block located in the province of Casanare, with the blockade being lifted on the morning of Saturday May 5, 2012. As previously announced on April 24, 2012, public roads in the province of Casanare were being blocked and this led to a lack of public order in the area, impacting production from PetroMagdalena's Cubiro block. No employees or contractors of the Company were involved. Discussions between all four levels of government are focusing on delivering a long term solution for the local communities.

date.png08 May 2012 07:12 | comments.png 0 Comments | tags.png colombia petromagdalena s-america upstream [ More ]

PetroMagdalena announces normalization of operations at Cubiro in the province of Casanares
PetroMagdalena Energy Corp. (TSXV: PMD) is pleased to announce the normalization of operations in our Cubiro Block located in the province of Casanares. In previous days there was an illegal protest where public roads in the province of Casanares were being blocked and this led to a lack of public order in the area. Rig operations were interrupted and trucking operations were also halted which impacted production schedules. The unlawful blockade was lifted Wednesday evening, March 7th. With the blockade now removed, operations are returning to normal levels.

date.png13 Mar 2012 12:36 | comments.png 0 Comments | tags.png colombia petromagdalena s-america upstream [ More ]

PetroMagdalena announces farm-in with Interoil
PetroMagdalena Energy Corp. (TSXV: PMD) announced today that it has entered into a binding letter of intent with Interoil Colombia E&P Inc. in respect of a 50% participation to farm in to the LLA-47 block located in the Llanos just south and on trend with the company's main Cubiro block and other producing blocks in the basin.

date.png01 Mar 2012 06:49 | comments.png 0 Comments | tags.png colombia interoil petromagdalena upstream [ More ]

PetroMagdalena provides exploration and production update including new discoveries at Cubiro and Arrendajo
PetroMagdalena Energy Corp. (TSXV: PMD), today provided an update on its ongoing exploration program, cash and debt balances, and announced its production results for 2011 following the Company's fiscal year end.

date.png23 Jan 2012 07:45 | comments.png 0 Comments | tags.png colombia petromagdalena upstream [ More ]

PetroMagdalena suspends Yaraqui-1X exploratory well
PetroMagdalena Energy Corp. (TSXV: PMD) announced today that the operator has decided to suspend the Yaraqui-1X well, located in the Topoyaco block, as tests over indicated log pays resulted in uneconomic heavy oil flows.

date.png10 Jan 2012 08:01 | comments.png 0 Comments | tags.png colombia petromagdalena upstream [ More ]

PetroMagdalena announces exploration update
PetroMagdalena Energy Corp. (TSXV: PMD), a company focused on oil and gas exploration and production in Colombia, today announced an update on its ongoing exploration program.

date.png29 Nov 2011 06:22 | comments.png 0 Comments | tags.png colombia petromagdalena upstream [ More ]

PetroMagdalena announces 86% increase in 2P reserves at Cubiro
PetroMagdalena Energy Corp. (TSXV: PMD) announced today that it has received an independent reserves evaluation report dated September 30, 2011 (the "Petrotech Report") prepared by Petrotech Engineering Ltd. of Burnaby, British Columbia, relating to the current reserve base in Cubiro, the Company's oil and gas exploration and production property located in the Llanos Basin of Colombia. The combined proved plus probable ("2P") reserves for this block (gross to the Company) increased by 5.0 million barrels of oil ("MMbbls"), or 86%, compared to those reported in December 2010. The Company's gross (before royalties) 2P reserves at Cubiro at September 30, 2011 amount to 10.8 MMbbls, having a total net present value ("NPV") (10% discount, before tax) of US$263 million, an increase of US$126 million since December 2010. The Report also reflects a 73% increase in gross proven reserves ("1P") to a total of 3.0 MMbbls.

date.png27 Oct 2011 06:24 | comments.png 0 Comments | tags.png colombia petromagdalena reserves [ More ]
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