More than 40 Cos Attend Magallanes E&P Road Show in Calgary

Chile's mining minister Karen Poniachik has met with representatives from more than 40 Canadian and US companies in Calgary, Alberta, where she invited them to participate in the tender of 10 E&P blocks in the southern Magallanes basin, the mining ministry said in a statement.

Organized by the Canadian Petroleum Institute and the mining ministry, companies attending the road show included: Apache Canada (NYSE: APA); Talisman Energy (NYSE: TLM); March Resources (TSX-V: MCF); Methanex (Nasdaq: MEOH); Petro Andina Resources (TSX: PAR); CanAmericas Energy (TSX: PNE); Niko Resources; Petro Hunt; and Antrim Energy (TSX: AEN), according to the statement.

After presenting the road show to investors, Poniachik met individually with representatives from 15 companies particularly interested in the blocks.

"There is tremendous interest from companies around the world in this tender," Poniachik said in the statement.

To date, 30 oil and natural gas companies have purchased bidding rules for the tender and four have purchased technical information on the blocks, according to the statement.

Chile's government has delayed until August 9 from July 10 the date for companies to acquire term sheets for the Magallanes blocks, BNamericas previously reported.

Winners will sign special operating contracts (CEOP) with the government that will run up to 35 years, including a maximum 25-year production phase.

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Company: Apache Corp. more info
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