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Interoil signs deals to boost production prospects in South America

Interoil Exploration and Production has signed two agreements in Colombia and Argentina to boost its production prospects in the regions. ....

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Interoil Exploration & Production ASA: Argentina

21
Interoil is pleased to announce that Velitec’s Work Over rig has been mobilized, fully rigged-up, certified and has started operation in the MMO-15 well in the Mata Magallanes Oeste (MMO) field in Argentina.
The work-over program in this well is forecast to last 19 days which includes retrieving existing production string, run through casing wireline logs (validate behind casing oil and gas layers), open new hydrocarbon layers and test each of them independently to verify fluids quantities and flowing plus shut-in pressures. Then, a new completion string will be installed to leave the well in production.
Based on the latest analysis, Interoil is expecting MMO-15 to flow oil and gas where, as described in several recent announcements from the company, the produced gas will be used to fuel MMO surface production equipment to be able to treat oil volumes to be sold under commercial specs. ....

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Signs new agreement in Colombia, plans further development activity in Argentina, and announces contemplated share issue

Signs new agreement in Colombia, plans further development activity in Argentina, and announces contemplated share issue
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Interoil signs agreements in Colombia and Argentina and announces small private placement

Interoil signs farm-out agreements in Colombia and Argentina and announces small private placement
04 Mar 2021
Interoil Exploration and Production has announced two transactions which strengthen the company’s production growth outlook in both Colombia and Argentina.
In
SLS and Quantum Resources for the drilling of the remaining committed
exploratory well (Mazorca) in the Altair block. This agreement is subject to Interoil’s obtainment of the funding required to meet its obligations under the farm-out agreement. The subscription of the small private placement announced herein constitutes a Company action aimed at securing such funding.
In
Velitec to invest in the
re-opening of 15 wells in the Mata Magallanes Oeste (MMO) oil field, including the reconditioning of the nearby dispatch battery at the ....

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