Petrolifera Plans to Start Block 107 Surveys this Month

Canadian oil company Petrolifera Petroleum (TSX: PDP) plans to begin its aeromagnetic/gravity surveys of block 107 in Peru's Ucayali basin in January following completion of test flights, the company said in a statement.

Petrolifera also has completed the block's environmental impact assessment (EIA), which the company has submitted to government authorities for review.

The company aims to begin its block 107 seismic program in spring 2007 if it secures timely government authorization.

Further, Petrolifera has completed its geochemistry program over three project areas in the Maranon basin's block 106 and is analyzing and interpreting the data.

Results from the program are expected to impact the fall 2007 seismic program on the block.

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