PetroFalcon Eyeing Ronda Caribe

Canadian oil and gas company PetroFalcon (TSX: PFC) has paid US$150,000 to Colombian state hydrocarbons agency ANH to acquire the data package for the Ronda Caribe round that will involve awarding 13 E&P blocks in northern Colombia, PetroFalcon CFO Garrett Soden told BNamericas.

The blocks, located in the Uraba, Sinu and La Guajira basins, cover 290,000ha, BNamericas previously reported.

The properties being offered are deepwater and shallow blocks, some of which are both onshore and offshore with similar geology to the Gulf of Venezuela, PetroFalcon said in a statement.

"We are mostly interested in Venezuela, but since we have good geological data on the area, I believe we have a strategic advantage going into the Colombia offshore blocks," Soden said.

PetroFalcon has 3D seismic data from its Chevron Cardon III block in the Gulf of Venezuela, 3D seismic on the La Vela Offshore block and the 2D data package for all the Gulf of Venezuela blocks.

"If we see some interesting prospects in the Colombia data and if we manage to find a good partner, I am optimistic about the likelihood of us participating in Colombia offshore."

Offers for the round will be received until September 18 and contracts will be awarded during the first week of October.

PetroFalcon is active in Venezuela through its wholly owned subsidiary Vinccler Oil & Gas. The company has a 40% interest PetroCumarebo, and Venezuela's state oil company PDVSA holds the remaining 60% of the JV.

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