Petro Andina Company News

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Petro Andina to Farm-In to Cory Moruga 'E' Block Onshore Trinidad
Wednesday, September 16, 2009Petro Andina has entered into an agreement to farm-in to the Cory Moruga 'E' Block located in South Central Trinidad.

Pluspetrol Extends Offer for Petro Andina Resources
Wednesday, August 19, 2009Pluspetrol's Alberta subsidiary has extended the expiry time for its all-cash offer to acquire all of the issued and outstanding Class A Shares of Petro Andina Resources.

Petro Andina's Board Rejects Pluspetrol's Offer
Friday, July 03, 2009Petro Andina announced that its Board of Directors unanimously recommends that shareholders reject Pluspetrol's unsolicited offer to acquire Petro Andina.

Pluspetrol Proposes All-Cash Offer to Acquire Petro Andina
Thursday, June 18, 2009Pluspetrol's subsidiary intends to make an all-cash offer to acquire all of the issued and outstanding common shares of Petro Andina Resources Inc.

Petro Andina Picks Up 4 Exploration Blocks in Colombia
Friday, May 01, 2009Petro Andina and its partner, Columbus Energy, were formally awarded four exploration blocks offered in the Colombia Mini-Round 2008 on Apr. 20.

Petro Andina Boosts Production in Neuquen Basin during First Quarter '09
Friday, May 01, 2009Oil production from Petro Andina's core operating area in the Neuquen Basin in Argentina during the first quarter of 2009 was approximately 15,630 barrels of oil per day, up from 2008 levels.

Petro Andina Reports Stellar Financial Results
Friday, March 13, 2009Following record oil production and record reserves growth, Petro Andina is pleased to announce record net income and funds flow from operations for the year ended December 31, 2008 and the fourth quarter of 2008.

Petro Andina's Argentine Oil Production Up 18% in December
Wednesday, January 21, 2009Petro Andina reported that oil production from the Company's core operating area in the Neuquen basin in Argentina during the month of December 2008 was approximately 16,050 barrels of oil per day, an increase of 18% compared to September's levels.

Petro Andina Picks Up Exploration, Production Rights for 4 Colombian Blocks
Friday, December 12, 2008Petro Andina was the successful bidder for the right to negotiate for Exploration and Production contracts on four exploration blocks in Colombia's Llanos Basin.

Voyager Inks PSCs for Trinidad's Central Range Blocks
Wednesday, September 24, 2008Voyager Energy signed Production Sharing Contracts with the Petroleum Company of Trinidad and Tobago Ltd. for the Central Range Shallow and Deep Horizons Blocks located onshore Trinidad.

Petro Andina Closes $35.9 Million Bought-Deal Equity Financing
Thursday, March 06, 2008At closing 2,990,000 common shares were issued at a price of $12.00 per common share for aggregate gross proceeds of $35,880,000.

Petro Andina Reports $31.2 Million Bought Deal Equity Financing
Thursday, February 14, 2008They have agreed to purchase for resale to the public, on a bought deal basis, 2,600,000 common shares of Petro Andina, at a price of $12.00 per common share resulting in gross proceeds of $31,200,000.

Petro Andina Exceeds 2006 December Production Rate by 193%
Wednesday, January 09, 2008Petro Andina Resources' net production for the month of December averaged 8,600 barrels of oil per day (17,250 gross), which exceeded the Company's previously published target exit rate by 20 percent.

Petro Andina Signs JV with Pampetrol for Neuquen Basin in Argentina
Thursday, December 20, 2007Petro Andina Resources has signed a joint venture agreement with Pampetrol S.A.P.E.M for the Gobernador Ayala I Exploration Concession (GA I Block) in the Neuquen Basin of Argentina.

Petro Andina Names New VP of Business Development
Monday, October 01, 2007Petro Andina has appointed David R. Taylor to the position of Vice President, Business Development.

Petro Andina Closes Credit Facility
Monday, September 24, 2007Petro Andina Resources has closed a USD$100 million senior first lien secured credit facility, to be provided by Macquarie Bank Limited.

Petro Andina Tests 3 Exploratory Wells at 760b/d
Friday, August 31, 2007Three exploratory wells drilled in the Gobernador Ayala III block in Argentina's Neuquen basin have tested at a combined rate of 760b/d, Calgary-based Petro Andina Resources CFO Bill Hogg told BNamericas.

Petro Andina Logs Pay on Two Neuquen Basin Wells
Tuesday, August 21, 2007Petro Andina Resources reports the results of three exploration wells drilled on the Gobernador Ayala III Block (GA III) in the Neuquen Basin of Argentina.

Petro Andina Assumes Operatorship of Block CNQ-7
Monday, July 09, 2007Petro Andina has assumed operatorship of the CNQ-7 Block in the Neuquen Basin of Argentina.

Petro Andina Announces New Acreage in Argentina
Thursday, May 31, 2007Petro Andina Resources Inc. has signed a final agreement with the Province of La Pampa with respect to the award of the Gobernador Ayala III Exploration Concession ("GA III Block") in the Neuquen Basin of Argentina.

La Pampa Awards Ayala II, III Blocks
Friday, May 04, 2007Argentina's La Pampa province has awarded exploration concessions for the Gobernador Ayala II and III blocks to the Argentine subsidiaries of Canada's Petrolifera and Petro Andina Resources respectively.

Petro Andina Announces Neuquen Discoveries
Wednesday, February 07, 2007Petro Andina Resources has successfully completed appraisal drilling programs at two new field discoveries on its CNQ-7/A Block in Argentina's Neuquen Basin.

Petro Andina Closes $41 Million Private Placement
Friday, October 13, 2006Petro Andina Resources has completed a private equity placement of 6,000,000 common shares for gross proceeds of Cdn.$39,000,000, at a price of Cdn.$6.50 per common share.

Petro Andina Contracts Second Rig for Argentina Operations
Tuesday, January 17, 2006Petro Andina Resources Inc. has contracted a 550 hp drilling rig from Ensign Drilling for the continuous development drilling program at its Jaguel Casa de Piedra (JCP) field on the CNQ-7/A Block located in Argentina's Neuquen Basin.

Mendoza to Launch Tender for 24 Blocks by Year-End
Wednesday, December 01, 2004Argentina's Mendoza province plans to launch a tender by the end of this year for 24 oil and gas exploration areas, the provincial economy ministry's promotion and investment undersecretary Alejandro Rodríguez said.