Rio Negro Pre-awards 4 E&P Concessions

Argentina's Rio Negro province has pre-awarded E&P concessions for four blocks in the Neuquen basin to four separate companies, the provincial government said in a statement.

The four blocks are Agua Amarga, Lago Pellegrini, Vaca Mahuida and Villa Regina.

Local firm Petrolera Entre Lomas was the sole bidder for Agua Amarga and has been pre-awarded the concession with its US$23.2mn offer.

The province pre-awarded local firm Interenergy Argentina the Lago Pellegrini concession with its US$37.9mn bid.

Canadian oil and gas company Petrolifera Petroleum (TSX: PDP) has been pre-awarded the Vaca Mahuida concession with its US$36.6mn bid.

Petrolifera beat out Interenergy's US$10.1mn bid as well as a US$5.33mn bid from Compania General de Combustibles (CGC).

Interenergy also was pre-awarded the Villa Regina block with a US$8.75mn bid, beating out Petrolifera's US$6.43mn offer.

The four blocks were part of the second tender round launched by the province.

The province has begun selling bidding rules for the third tender and plans to launch the fourth tender round in June.

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