Oromin Explorations has advised that the environmental studies on the Santa Rosa Exploration Permit have been completed by its wholly-owned Argentine subsidiary and have been filed with the Environmental Control and Improvement Directorate of the Province of Mendoza. The Directorate will oversee the evaluation of the environmental studies by the appropriate government agencies and specialists prior to authorizing the first phase of exploration drilling, scheduled for the first quarter of 2009.
The Santa Rosa Block has an area of 7,694 square kilometers with approximately 300 square kilometers being the area we are focused on. This area covers a large, untested, shallow dome structure that is defined by four surrounding seismic lines on a regional grid. In addition to the environmental studies, a land surveying contract has been awarded to re-establish the corners and boundaries of the block in compliance with provincial regulations. This survey will also establish the locations of potential drill-sites and set up a reference grid for future exploration activities.
The CCyB-9 Santa Rosa Block is located within the Cuyana Basin in Mendoza Province, Argentina which has produced over 1.28 billion barrels of oil and has an established infrastructure of pipelines, a refinery, low operating costs and an experienced oil industry work force.
Otto Energy Limited has a Letter of Intent with Oromin which enables it to earn up to a 41.24% working interest by the expenditure of up to US $2,297,381.
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