Infinity Expects Partner Agreements Within 30 Days
The definitive agreements regarding potential JV partners for Denver-based Infinity Energy Resources' oil and gas concession offshore Nicaragua are to be submitted within the next 30 days, Infinity CEO Stanton Ross said in a webcast.
US investment bank Capital One Southcoast is handling the process for Infinity.
Infinity holds Caribbean areas in the Perlas (2,291 sq km) and Tyra (3,330 sq km) blocks.
News regarding the finding of "oil and gas shows" onshore by another company has "caused a tremendous amount of interest in parties wanting to partner," Ross said.
The executive reiterated Infinity's plans to keep some type of interest in the offshore concession.
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- Infinity Energy Resources Names Technical Team for Offshore Nicaragua (Jun 23)
- Nicaragua Inks New Offshore Exploration Deal (Mar 06)
- Infinity Gets Approval for Offshore Nicaraguan E&D Contracts (Jul 07)