Oil &Gas /Energy Speculators - argentaoilandgas Trayectoriaoilandgas - Oil &Gas /Energy Speculators - InvestorVillage
Oil &Gas /Energy Speculators
This is a semi-private group. You are free to browse messages, but you must be a member of this group to post messages. Join This Group

Group: Oil &Gas /Energy Speculators   /  Message Board  /  Read Message


Rec'd By
Authored By
Minimum Recs
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board
Msg  604 of 611  at  11/26/2009 9:29:39 AM  by


 In response to msg 602 by  JWMCLEAN
view thread

Re: argentaoilandgas Trayectoriaoilandgas

Back to the old stomping grounds for Glenn.....

Argenta Enters into Agreement with Trayectoria Oil & Gas, Colombia


TORONTO, ONTARIO--(Marketwire - Nov. 25, 2009) -


Argenta Oil & Gas Inc. ("Argenta") (TSX VENTURE:AZA) announces that the Company has finalized an agreement with Trayectoria Oil and Gas S.A. ("Trayectoria"), a Colombian based private company, for the completion of its commitment to acquire and process 50 square kilometers of 2D seismic data on the La Mona Block in Colombia. This program is needed to finalize the TEA (Technical Evaluation Agreement) work obligations and, if warranted, to enter into an Exploration and Production contract.

The terms of the agreement provide for  Trayectoriaoilandgas to pay the seismic contractor GeoEnergy Ltda. (a company controlled by Trayectoria), US$650,000, equivalent to approximately 50% of the cost of the seismic acquisition and processing program. The remaining portion will be paid by Argenta out of its funds deposited in the escrow account, as required under the Contract with the Agencia Nacional de Hidrocarburos. Once the acquisition and processing is completed, Argenta has agreed to issue Trayectoria 8 million common shares of Argenta, such issuance to be subject to regulatory approval and a four month hold and Trayectoria has agreed to assign to Argenta, in exchange for an additional consideration, to be negotiated, an interest of Argenta's choice in one or more of its hydrocarbon blocks in Colombia.


Now we wait to see what blocks AZA will farm into ...here is Trayectoriaoilandgas portfollio......

 Solana(glenn old company) was partner with Trayectoriaoilandgas ...if i remeber right there was some blocks threre with big upside(hundreds of million barrel field potential)


Catatumbo Basin - Catguas Block

Solana is the operator and holds a 100% working interest in the Catguas
Block which is located in the Catatumbo basin. Trayectoria Oil and Gas,
Sucursal Colombia holds a 15% beneficial interest
in 70% of the block and a
50% beneficial interest in the remainder. This block is subject to an ANH

Catguas Block

The acquisition of 2D and 3D seismic data for the Company's planned
Catguas seismic program continues to be a challenge due to infrastructure
limitations, difficult topography and security issues. Nevertheless, the work
is progressing steadily and anticipated to be complete by November 2008,
approximately six months later than originally planned. Accordingly, the next
two exploration wells are now anticipated to be drilled in late second quarter
Mr. Glenn Van Doorne, Chief Operating Officer of Solana, a Petroleum
Geologist, is the qualified person who has reviewed the technical information
contained in this news release.


     e-mail to a friend      printer-friendly     add to library      
| More
Recs: 1     Views: 898
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board

About Us  •  Contact Us  •  Follow Us on Twitter  •  Members Directory  •  Help Center  •  Advertise
Not a member yet? What are you waiting for? Create Account
Want to contribute? Support InvestorVillage by donating
© 2003-2019 Investorvillage.com. All rights reserved. User Agreement
Financial Market Data provided by