Pacific Rubiales - Die kolumbianische Erfolgsgeschichte geht weiter!!! - 500 Beiträge pro Seite
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Es ist Zeit sich mal gemeinsam ueber folgenden Wert zu Unterhalten.
Was in den letzten 5-Jahren in Kolumbien aufgebaut wuerde ist Gigantisch!
http://www.pacificrubiales.com/images/stories/pacificrubiale…
Aktuelle News zur letzten Acquisition:
PetroMagdalena shareholders OK Pacific Rubiales deal
2012-07-23 18:20 ET - News Release
Ms. Melissa Krishna reports
PETROMAGDALENA SECURITYHOLDERS APPROVE PLAN OF ARRANGEMENT WITH PACIFIC RUBIALES ENERGY CORP.
Holders of PetroMagdalena Energy Corp. common shares and common share purchase warrants have approved the previously announced plan of arrangement involving PetroMagdalena, the securityholders and 0942183 B.C. Ltd., a wholly owned subsidiary of Pacific Rubiales Energy Corp.
At the special meeting of securityholders held today, approximately 95.87 per cent of all securityholders, present in person or represented by proxy and voting as a single class, voted in favour of the plan of arrangement. Approximately 93.37 per cent of minority holders of common shares also voted in favour of the plan of arrangement.
The hearing in respect of the final order of the Supreme Court of British Columbia approving the plan of arrangement is scheduled for July 24, 2012. Under the plan of arrangement: (i) each former holder of common shares will receive $1.60 in cash for each common share held immediately prior to the plan of arrangement becoming effective, and (ii) each former holder of common share purchase warrants will receive 25 cents in cash for each common share purchase warrant held immediately prior to the plan of arrangement becoming effective.
Further details regarding the plan of arrangement are set out in PetroMagdalena's notice of special meeting of securityholders and information circular dated June 21, 2012, a copy of which is available at SEDAR under PetroMagdalena's profile and on PetroMagdalena's website.
Assuming all conditions of the plan of arrangement are satisfied or waived, PetroMagdalena expects the plan of arrangement to become effective on or about July 27, 2012. If the plan of arrangement is effected on July 27, 2012, the common shares and common share purchase warrants will be delisted from the TSX Venture Exchange at the close of business on July 30, 2012.
We seek Safe Harbor.
Was in den letzten 5-Jahren in Kolumbien aufgebaut wuerde ist Gigantisch!
http://www.pacificrubiales.com/images/stories/pacificrubiale…
Aktuelle News zur letzten Acquisition:
PetroMagdalena shareholders OK Pacific Rubiales deal
2012-07-23 18:20 ET - News Release
Ms. Melissa Krishna reports
PETROMAGDALENA SECURITYHOLDERS APPROVE PLAN OF ARRANGEMENT WITH PACIFIC RUBIALES ENERGY CORP.
Holders of PetroMagdalena Energy Corp. common shares and common share purchase warrants have approved the previously announced plan of arrangement involving PetroMagdalena, the securityholders and 0942183 B.C. Ltd., a wholly owned subsidiary of Pacific Rubiales Energy Corp.
At the special meeting of securityholders held today, approximately 95.87 per cent of all securityholders, present in person or represented by proxy and voting as a single class, voted in favour of the plan of arrangement. Approximately 93.37 per cent of minority holders of common shares also voted in favour of the plan of arrangement.
The hearing in respect of the final order of the Supreme Court of British Columbia approving the plan of arrangement is scheduled for July 24, 2012. Under the plan of arrangement: (i) each former holder of common shares will receive $1.60 in cash for each common share held immediately prior to the plan of arrangement becoming effective, and (ii) each former holder of common share purchase warrants will receive 25 cents in cash for each common share purchase warrant held immediately prior to the plan of arrangement becoming effective.
Further details regarding the plan of arrangement are set out in PetroMagdalena's notice of special meeting of securityholders and information circular dated June 21, 2012, a copy of which is available at SEDAR under PetroMagdalena's profile and on PetroMagdalena's website.
Assuming all conditions of the plan of arrangement are satisfied or waived, PetroMagdalena expects the plan of arrangement to become effective on or about July 27, 2012. If the plan of arrangement is effected on July 27, 2012, the common shares and common share purchase warrants will be delisted from the TSX Venture Exchange at the close of business on July 30, 2012.
We seek Safe Harbor.
Habe ich lange besessen, aber Anfang des Jahres das Zwischenhoch genutzt und verkauft. PRE zahlt sogar vierteljährlich eine kleine Dividende, so ca 10 (US/CAD) Cent pro Aktie.
Man sollte seine Kaufentscheidung jedoch nicht nur von den Leistungen in der Vergangenheit abhängig machen. Die große Frage ist, ob PRE auch weiterhin so erfolgreich und glücklich bei den Ölfunden ist, um weiter zu wachsen.
Dazu ist PRE immer noch extrem auf Kolumbien fixiert, obwohl inzwischen als relativ sicher und stabil anzusehen, muß man bei diesen Ländern immer vorsichtig sein.
Wie so viele Werte in diesem Segment scheint sie im Moment billig zu sein, aber das schienen auch schon so im Mai und Juni, trotzdem gings weiter bergab.
Wer weiss, was für weitere Kübel an Mist noch auf uns zukommen.
Ich warte noch ab, wie sich die Gesamtlage weiter entwickelt, zur Kaufpanik ist (noch) kein Anlass. Und das betrifft nicht nur PRE.
Man sollte seine Kaufentscheidung jedoch nicht nur von den Leistungen in der Vergangenheit abhängig machen. Die große Frage ist, ob PRE auch weiterhin so erfolgreich und glücklich bei den Ölfunden ist, um weiter zu wachsen.
Dazu ist PRE immer noch extrem auf Kolumbien fixiert, obwohl inzwischen als relativ sicher und stabil anzusehen, muß man bei diesen Ländern immer vorsichtig sein.
Wie so viele Werte in diesem Segment scheint sie im Moment billig zu sein, aber das schienen auch schon so im Mai und Juni, trotzdem gings weiter bergab.
Wer weiss, was für weitere Kübel an Mist noch auf uns zukommen.
Ich warte noch ab, wie sich die Gesamtlage weiter entwickelt, zur Kaufpanik ist (noch) kein Anlass. Und das betrifft nicht nur PRE.
FP says Nexen sale would likely herald more takeovers
2012-07-24 08:41 ET - In the News
See In the News (C-NXY) Nexen Inc
The Financial Post reports in its Tuesday, July 24, edition that Prime Minister Stephen Harper has been telling China that Canada welcomes its investment. The Post's Claudia Cattaneo writes that CNOOC's bid for Nexen pushes the Tory government to a fork in the road. If Ottawa approves the bid, it makes good on its rhetoric and fends off the bad odour from its rejection of BHP Billiton's hostile bid for Potash Corp. of Saskatchewan nearly two years ago. However, giving the green light to CNOOC's Nexen bid will make it hard to reject the takeover of other Canadian oil and gas champions with depressed share prices. Losing the likes of EnCana, Talisman Energy or Canadian Oil Sands would leave Canadians with even less ownership and less control of an industry that is supposed to be the engine of their economy, notes Ms. Cattaneo. If Ottawa rejects the bid, it contains the sell-off but loses credibility with investors and offends China, which Canada needs as a market for its oil and gas to reduce its dependence on the United States. With CNOOC's offer, China seems to be cleverly accommodating and even exceeding Canada's foreign investment requirements, leaving little room for Ottawa to say no.
2012-07-24 08:41 ET - In the News
See In the News (C-NXY) Nexen Inc
The Financial Post reports in its Tuesday, July 24, edition that Prime Minister Stephen Harper has been telling China that Canada welcomes its investment. The Post's Claudia Cattaneo writes that CNOOC's bid for Nexen pushes the Tory government to a fork in the road. If Ottawa approves the bid, it makes good on its rhetoric and fends off the bad odour from its rejection of BHP Billiton's hostile bid for Potash Corp. of Saskatchewan nearly two years ago. However, giving the green light to CNOOC's Nexen bid will make it hard to reject the takeover of other Canadian oil and gas champions with depressed share prices. Losing the likes of EnCana, Talisman Energy or Canadian Oil Sands would leave Canadians with even less ownership and less control of an industry that is supposed to be the engine of their economy, notes Ms. Cattaneo. If Ottawa rejects the bid, it contains the sell-off but loses credibility with investors and offends China, which Canada needs as a market for its oil and gas to reduce its dependence on the United States. With CNOOC's offer, China seems to be cleverly accommodating and even exceeding Canada's foreign investment requirements, leaving little room for Ottawa to say no.
Pacific Rubiales acquires 40% interest in Portofino
2012-07-24 09:15 ET - News Release
Mr. Ronald Pantin reports
PACIFIC RUBIALES ANNOUNCES ACQUISITION OF A PARTICIPATING INTEREST IN THE HEAVY OIL PROSPECTIVE PORTOFINO EXPLORATION BLOCK, COLOMBIA
Pacific Rubiales Energy Corp. has signed binding letters of agreement with Petrolera Monterrico SA Sucursal Colombia (Petromont) to acquire a 40-per-cent participating interest and with Canacol Energy Ltd. to acquire operatorship, of the onshore Portofino exploration block in Colombia.
The Portofino block has an area of approximately 1,047 km2, and is located at the north-eastern corner of the Caguan-Putumayo basin in southern Colombia. The block is located within the heavy oil trend that hosts the giant producing fields of Rubiales/Quifa and Castilla/Chichemene, and on trend and adjacent to the developing Capella heavy oil field. The block contains one prospect with a management estimated P50 resource potential of 140 MMbbl and up to four additional leads with approximately 160 MMbbl.
Ronald Pantin, Chief Executive Officer of the Company, commented: "This is an exciting opportunity and an excellent fit with the Company's expertise in heavy oil development. Pacific Rubiales is already the largest operator and producer of heavy oil in Colombia and has one of the largest net land positions along the heavy oil resource trend. This acquisition adds to the existing portfolio, providing future growth potential to the Company."
The transaction consists of a US$23.5 million cash payment to Petromont which includes payment for past exploration costs, plus a US$2.2 million carry of their obligations related to an approved exploration work program. As part of the agreement, there is an additional carry obligation to finance certain production facilities and other activities required for the development of the block of up to US$45 million. This carry obligation will be recovered from the proceeds of production.
In a separate agreement, the Company will pay Canacol a cash consideration of US$3.7 million to assume operatorship of the block. Pacific Rubiales will be transferred operatorship of the block following the drilling of the next four wells.
The transaction is subject to government and regulatory approvals.
We seek Safe Harbor.
2012-07-24 09:15 ET - News Release
Mr. Ronald Pantin reports
PACIFIC RUBIALES ANNOUNCES ACQUISITION OF A PARTICIPATING INTEREST IN THE HEAVY OIL PROSPECTIVE PORTOFINO EXPLORATION BLOCK, COLOMBIA
Pacific Rubiales Energy Corp. has signed binding letters of agreement with Petrolera Monterrico SA Sucursal Colombia (Petromont) to acquire a 40-per-cent participating interest and with Canacol Energy Ltd. to acquire operatorship, of the onshore Portofino exploration block in Colombia.
The Portofino block has an area of approximately 1,047 km2, and is located at the north-eastern corner of the Caguan-Putumayo basin in southern Colombia. The block is located within the heavy oil trend that hosts the giant producing fields of Rubiales/Quifa and Castilla/Chichemene, and on trend and adjacent to the developing Capella heavy oil field. The block contains one prospect with a management estimated P50 resource potential of 140 MMbbl and up to four additional leads with approximately 160 MMbbl.
Ronald Pantin, Chief Executive Officer of the Company, commented: "This is an exciting opportunity and an excellent fit with the Company's expertise in heavy oil development. Pacific Rubiales is already the largest operator and producer of heavy oil in Colombia and has one of the largest net land positions along the heavy oil resource trend. This acquisition adds to the existing portfolio, providing future growth potential to the Company."
The transaction consists of a US$23.5 million cash payment to Petromont which includes payment for past exploration costs, plus a US$2.2 million carry of their obligations related to an approved exploration work program. As part of the agreement, there is an additional carry obligation to finance certain production facilities and other activities required for the development of the block of up to US$45 million. This carry obligation will be recovered from the proceeds of production.
In a separate agreement, the Company will pay Canacol a cash consideration of US$3.7 million to assume operatorship of the block. Pacific Rubiales will be transferred operatorship of the block following the drilling of the next four wells.
The transaction is subject to government and regulatory approvals.
We seek Safe Harbor.
PetroMagdalena receives final order for Rubiales deal
2012-07-24 15:15 ET - News Release
Mr. Peter Volk reports
PETROMAGDALENA RECEIVES FINAL COURT ORDER FOR ARRANGEMENT WITH PACIFIC RUBIALES ENERGY CORP.
The Supreme Court of British Columbia has issued a final order approving the plan of arrangement involving PetroMagdalena Energy Corp., holders of common shares and common share purchase warrants of PetroMagdalena, and 0942183 B.C. Ltd., a wholly owned subsidiary of Pacific Rubiales Energy Corp.
Receipt of the final order follows PetroMagdalena's special meeting of securityholders held on July 23, 2012, wherein approximately 95.87 per cent of all securityholders, present in person or represented by proxy and voting as a single class, voted in favour of the plan of arrangement.
Under the plan of arrangement: (i) each former holder of common shares will receive $1.60 in cash for each common share held immediately prior to the plan of arrangement becoming effective, and (ii) each former holder of common share purchase warrants will receive 25 cents in cash for each common share purchase warrant held immediately prior to the plan of arrangement becoming effective. Further details regarding the plan of arrangement are set out in PetroMagdalena's notice of special meeting of securityholders and information circular dated June 21, 2012, a copy of which is available at SEDAR under PetroMagdalena's profile and on PetroMagdalena's website.
Assuming all conditions of the plan of arrangement are satisfied or waived, PetroMagdalena expects the plan of arrangement to become effective on or about July 27, 2012. If the plan of arrangement is effected on July 27, 2012, the common shares and common share purchase warrants will be delisted from the TSX Venture Exchange at the close of business on July 30, 2012.
We seek Safe Harbor.
2012-07-24 15:15 ET - News Release
Mr. Peter Volk reports
PETROMAGDALENA RECEIVES FINAL COURT ORDER FOR ARRANGEMENT WITH PACIFIC RUBIALES ENERGY CORP.
The Supreme Court of British Columbia has issued a final order approving the plan of arrangement involving PetroMagdalena Energy Corp., holders of common shares and common share purchase warrants of PetroMagdalena, and 0942183 B.C. Ltd., a wholly owned subsidiary of Pacific Rubiales Energy Corp.
Receipt of the final order follows PetroMagdalena's special meeting of securityholders held on July 23, 2012, wherein approximately 95.87 per cent of all securityholders, present in person or represented by proxy and voting as a single class, voted in favour of the plan of arrangement.
Under the plan of arrangement: (i) each former holder of common shares will receive $1.60 in cash for each common share held immediately prior to the plan of arrangement becoming effective, and (ii) each former holder of common share purchase warrants will receive 25 cents in cash for each common share purchase warrant held immediately prior to the plan of arrangement becoming effective. Further details regarding the plan of arrangement are set out in PetroMagdalena's notice of special meeting of securityholders and information circular dated June 21, 2012, a copy of which is available at SEDAR under PetroMagdalena's profile and on PetroMagdalena's website.
Assuming all conditions of the plan of arrangement are satisfied or waived, PetroMagdalena expects the plan of arrangement to become effective on or about July 27, 2012. If the plan of arrangement is effected on July 27, 2012, the common shares and common share purchase warrants will be delisted from the TSX Venture Exchange at the close of business on July 30, 2012.
We seek Safe Harbor.
Trading Spotlight
Pacific Rubiales acquires PetroMagdalena
2012-07-27 08:39 ET - News Release
Mr. Ronald Pantin reports
PACIFIC RUBIALES COMPLETES ACQUISITION OF PETROMAGDALENA ENERGY
Pacific Rubiales Energy Corp. has completed its acquisition of PetroMagdalena Energy Corp.
PetroMagdalena has working interests in 19 properties in five onshore basins in Colombia producing approximately 3.6 Mboe/d (approximately 95% light/medium crude oil and natural gas liquids) net after royalty in the first quarter of 2012 and with 2011 year-end net proved plus probable reserves of 22.9 MMboe (64% light/medium crude oil and natural gas liquids).1
Ronald Pantin, Chief Executive Officer of the Company, commented: "We know the PetroMagdalena assets well. The Company can apply its financial resources and technical expertise to unlock and accelerate exploration and development, growing production and also achieving a reduction in consolidated G&A costs. The acquired production provides the Company with a reliable and growing supply of diluent, which is required for its heavy oil production in Colombia and adds bolt-on exploration acreage."
The acquisition was completed today pursuant to a plan of arrangement under the British Columbia Business Corporations Act. Under the arrangement, a wholly-owned subsidiary of Pacific Rubiales, 0942183 B.C. Ltd (the "Purchaser"), acquired all of the outstanding PetroMagdalena common shares not already owned by it or its affiliates for $1.60 per share (approximately $225 million in the aggregate). The Purchaser acquired 140,738,004 common shares of PetroMagdalena pursuant to the arrangement which, when added to the shares of PetroMagdalena already owned by the Purchaser (being 8,653,516), results in the Purchaser owning 149,391,520 common shares, representing 100% of the outstanding PetroMagdalena shares. In addition, PetroMagdalena's share purchase warrants (TSX-V: PMD.WT) were cancelled under the terms of the Arrangement for $0.25 in cash for each unexercised warrant held.
1 Effective date of the reserves information is December 31, 2011. Gas volumes when expressed in BOE's were converted using 6,000 cubic feet of gas equivalent to one barrel of oil.
We seek Safe Harbor.
2012-07-27 08:39 ET - News Release
Mr. Ronald Pantin reports
PACIFIC RUBIALES COMPLETES ACQUISITION OF PETROMAGDALENA ENERGY
Pacific Rubiales Energy Corp. has completed its acquisition of PetroMagdalena Energy Corp.
PetroMagdalena has working interests in 19 properties in five onshore basins in Colombia producing approximately 3.6 Mboe/d (approximately 95% light/medium crude oil and natural gas liquids) net after royalty in the first quarter of 2012 and with 2011 year-end net proved plus probable reserves of 22.9 MMboe (64% light/medium crude oil and natural gas liquids).1
Ronald Pantin, Chief Executive Officer of the Company, commented: "We know the PetroMagdalena assets well. The Company can apply its financial resources and technical expertise to unlock and accelerate exploration and development, growing production and also achieving a reduction in consolidated G&A costs. The acquired production provides the Company with a reliable and growing supply of diluent, which is required for its heavy oil production in Colombia and adds bolt-on exploration acreage."
The acquisition was completed today pursuant to a plan of arrangement under the British Columbia Business Corporations Act. Under the arrangement, a wholly-owned subsidiary of Pacific Rubiales, 0942183 B.C. Ltd (the "Purchaser"), acquired all of the outstanding PetroMagdalena common shares not already owned by it or its affiliates for $1.60 per share (approximately $225 million in the aggregate). The Purchaser acquired 140,738,004 common shares of PetroMagdalena pursuant to the arrangement which, when added to the shares of PetroMagdalena already owned by the Purchaser (being 8,653,516), results in the Purchaser owning 149,391,520 common shares, representing 100% of the outstanding PetroMagdalena shares. In addition, PetroMagdalena's share purchase warrants (TSX-V: PMD.WT) were cancelled under the terms of the Arrangement for $0.25 in cash for each unexercised warrant held.
1 Effective date of the reserves information is December 31, 2011. Gas volumes when expressed in BOE's were converted using 6,000 cubic feet of gas equivalent to one barrel of oil.
We seek Safe Harbor.
Pacific Rubiales farms out 10% of PPL 237, Triceratops
2012-07-30 07:04 ET - News Release
Mr. Phil Mulacek of InterOil reports
INTEROIL EXECUTES FARM-IN AGREEMENT WITH PACIFIC RUBIALES ENERGY FOR INTEREST IN TRICERATOPS AND PPL 237
InterOil Corp. has executed a farm-in agreement and related documents with Pacific Rubiales Energy Corp. relating to its acquisition of a 10.0-per-cent net (12.9-per-cent gross) participating interest in petroleum prospecting licence 237 (PPL 237) onshore Papua New Guinea, including the Triceratops structure and exploration acreage located within that licence. This announcement is made further to the Company's announcement on April 30, 2012 that it had entered into a Heads of Agreement ("HOA") with PRE and the terms are materially the same as those previously announced.
Execution of the Farm-In Agreement accomplishes one of the milestones contemplated to complete the farm-in transaction. Completion of the farm-in transaction remains subject to satisfaction of additional conditions within 18 months, including execution of joint venture operating agreements with PRE, and PNG Government approval. Additionally, PRE has the option to terminate the Farm-In Agreement at various stages of the work program and to be reimbursed up to US$96 million of the $116 million initial cash payment, which does not include carried costs, out of future upstream production proceeds.
Pacific LNG Operations Ltd., an affiliate of Clarion Finanz A.G., and its affiliates ("PacLNG") are participating on a 25% beneficial equity basis in the portion of the farm-in transaction relating to the Triceratops structure, by reducing PacLNG's indirect participating interest in the Triceratops structure. As a result, PacLNG will receive 25% of the payments PRE makes under the farm-in transaction relating to the Triceratops structure. PacLNG will also receive a commission fee of 2.5% of cash payments made by Pacific Rubiales other than carry. Certain other indirect participating interest holders may also participate in the farm-in transaction.
"InterOil and its partners are pleased to have completed execution of the Farm-In Agreement with Pacific Rubiales, a company with a track record of successful exploration and production development," stated Mr. Phil Mulacek, Chief Executive Officer of InterOil. "We look forward to completing the Pacific Rubiales farm-in, and to accelerating appraisal and development of the Triceratops gas and condensate field in Papua New Guinea."
Ronald Pantin, Chief Executive Officer of Pacific Rubiales, commented: "We are very pleased to be partnered with InterOil and its management on what we believe to be a world class gas and condensate trend and which provides us with the strategic opportunity for early stage large resource capture on the doorstep of the world's fastest growing primary energy markets."
We seek Safe Harbor.
2012-07-30 07:04 ET - News Release
Mr. Phil Mulacek of InterOil reports
INTEROIL EXECUTES FARM-IN AGREEMENT WITH PACIFIC RUBIALES ENERGY FOR INTEREST IN TRICERATOPS AND PPL 237
InterOil Corp. has executed a farm-in agreement and related documents with Pacific Rubiales Energy Corp. relating to its acquisition of a 10.0-per-cent net (12.9-per-cent gross) participating interest in petroleum prospecting licence 237 (PPL 237) onshore Papua New Guinea, including the Triceratops structure and exploration acreage located within that licence. This announcement is made further to the Company's announcement on April 30, 2012 that it had entered into a Heads of Agreement ("HOA") with PRE and the terms are materially the same as those previously announced.
Execution of the Farm-In Agreement accomplishes one of the milestones contemplated to complete the farm-in transaction. Completion of the farm-in transaction remains subject to satisfaction of additional conditions within 18 months, including execution of joint venture operating agreements with PRE, and PNG Government approval. Additionally, PRE has the option to terminate the Farm-In Agreement at various stages of the work program and to be reimbursed up to US$96 million of the $116 million initial cash payment, which does not include carried costs, out of future upstream production proceeds.
Pacific LNG Operations Ltd., an affiliate of Clarion Finanz A.G., and its affiliates ("PacLNG") are participating on a 25% beneficial equity basis in the portion of the farm-in transaction relating to the Triceratops structure, by reducing PacLNG's indirect participating interest in the Triceratops structure. As a result, PacLNG will receive 25% of the payments PRE makes under the farm-in transaction relating to the Triceratops structure. PacLNG will also receive a commission fee of 2.5% of cash payments made by Pacific Rubiales other than carry. Certain other indirect participating interest holders may also participate in the farm-in transaction.
"InterOil and its partners are pleased to have completed execution of the Farm-In Agreement with Pacific Rubiales, a company with a track record of successful exploration and production development," stated Mr. Phil Mulacek, Chief Executive Officer of InterOil. "We look forward to completing the Pacific Rubiales farm-in, and to accelerating appraisal and development of the Triceratops gas and condensate field in Papua New Guinea."
Ronald Pantin, Chief Executive Officer of Pacific Rubiales, commented: "We are very pleased to be partnered with InterOil and its management on what we believe to be a world class gas and condensate trend and which provides us with the strategic opportunity for early stage large resource capture on the doorstep of the world's fastest growing primary energy markets."
We seek Safe Harbor.
Pacific Rubiales Energy to release Q2 results Aug. 8
2012-07-30 13:10 ET - News Release
Mr. Christopher LeGallais reports
PACIFIC RUBIALES SECOND QUARTER 2012 CONFERENCE CALL
Pacific Rubiales Energy Corp. has scheduled a telephone conference call for investors and analysts on Thursday, Aug. 9, 2012, at 8 a.m. (Bogota time) (9 a.m. (Toronto time) or 10 a.m. (Rio de Janeiro time)) to discuss the company's second quarter results. Participants will include Ronald Pantin, chief executive officer, and selected members of senior management. Pacific Rubiales expects to release its results on Wednesday, Aug. 8, 2012, after market close.
The live conference call will be conducted in English with simultaneous Spanish translation. The company will post a presentation on the company's website prior to the call.
Analysts and interested investors are invited to participate using the dial-in numbers as follows.
Participant number (international/local): 647-427-7450
Participant number (toll-free Colombia): 01-800-518-0661
Participant number (toll-free North America): 888-231-8191
Conference ID (English participants): 13207829
Conference ID (Spanish participants): 13257784
The conference call will be webcast and can be accessed through the company's website.
A replay of the call will be available until 11:59 p.m. (Toronto time) on Aug. 23, 2012, and can be accessed as follows.
Encore toll-free dial-in number: 1-855-859-2056
Local dial-in-number: 416-849-0833
Encore ID (English participants): 13207829
Encore ID (Spanish participants): 13257784
2012-07-30 13:10 ET - News Release
Mr. Christopher LeGallais reports
PACIFIC RUBIALES SECOND QUARTER 2012 CONFERENCE CALL
Pacific Rubiales Energy Corp. has scheduled a telephone conference call for investors and analysts on Thursday, Aug. 9, 2012, at 8 a.m. (Bogota time) (9 a.m. (Toronto time) or 10 a.m. (Rio de Janeiro time)) to discuss the company's second quarter results. Participants will include Ronald Pantin, chief executive officer, and selected members of senior management. Pacific Rubiales expects to release its results on Wednesday, Aug. 8, 2012, after market close.
The live conference call will be conducted in English with simultaneous Spanish translation. The company will post a presentation on the company's website prior to the call.
Analysts and interested investors are invited to participate using the dial-in numbers as follows.
Participant number (international/local): 647-427-7450
Participant number (toll-free Colombia): 01-800-518-0661
Participant number (toll-free North America): 888-231-8191
Conference ID (English participants): 13207829
Conference ID (Spanish participants): 13257784
The conference call will be webcast and can be accessed through the company's website.
A replay of the call will be available until 11:59 p.m. (Toronto time) on Aug. 23, 2012, and can be accessed as follows.
Encore toll-free dial-in number: 1-855-859-2056
Local dial-in-number: 416-849-0833
Encore ID (English participants): 13207829
Encore ID (Spanish participants): 13257784
ANH auctions 4 unconventional blocks in Caguán-Putumayo Basin
http://hydrocarbonscolombia.com/2012/08/03/anh-auctions-4-un…
http://hydrocarbonscolombia.com/2012/08/03/anh-auctions-4-un…
The sale of Ecopetrol (ECOPETL) SA next year “isn’t indispensable,” Echeverry said.
The government will present a bill to Congress this year to allow it to sell a stake in Colombia’s largest oil company, Echeverry said. The Andean country will only sell a stake when it needs to, he said.
http://www.bloomberg.com/news/2012-08-03/colombia-needs-more…
The government will present a bill to Congress this year to allow it to sell a stake in Colombia’s largest oil company, Echeverry said. The Andean country will only sell a stake when it needs to, he said.
http://www.bloomberg.com/news/2012-08-03/colombia-needs-more…
Colombian gas distributors see benefits from gas exportation
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http://hydrocarbonscolombia.com/2012/08/03/colombian-gas-dis…
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http://hydrocarbonscolombia.com/2012/08/03/colombian-gas-dis…
Pacific Rubiales Reports Strong Financial Quarter: Record Sales Volumes, EBITDA, and Funds Flow from Operations, Development and Exploration Portfolio Expanded and Transformed for the Future Through Strategic Acquisitions
Second Quarter 2012 Highlights
EBITDA increased to a record $560 million ($1,098 million for the first six months, an increase of 19% compared to the same period in 2011), driven by production growth and higher netbacks.
Net Earnings of $224 million ($483 million for the first six months, an increase of 73% compared to the same period in 2011).
Adjusted Net Earnings from Operations of $187 million ($480 million for the first six months, an increase of 20% compared to the same period in 2011).
Operating netbacks from oil and gas production of $63.12/boe, an increase of 2% over the second quarter 2011, despite a 9% decrease in WTI benchmark oil prices.
Sales volumes increased to a record 117 Mboe/d (108 Mboe/d for the first six months, an increase of 13% compared to the same period in 2011).
Total production net of royalties of 92,611 boe/d including 1,740 bbl/d* attributed from the acquisition in Peru (93,092 boe/d for the first six months, an increase of 11% compared to the same period in 2011).
Total capital expenditures of $316 million compared to $308 million in the same period in 2011, with 38% ($121 million) invested in production facilities, 35% ($111 million) in exploration and, 20% ($64 million) in development drilling.
Exploration success of 82% from drilling a total of 22 gross exploratory wells of which 18 were successful.
Significant and material acquisitions aligned with the Company's long-term growth strategy, including new production in Peru and Colombia, and new exploration acreage and resources in Colombia, offshore Guyana and onshore Papua New Guinea.
Authorization of the environmental license for increased water injection in Rubiales oil field which will allow oil production ramp-up in the field.
Agreement in principle from Ecopetrol for a declaration of commerciality of a portion of the Quifa North oil field which will allow the Company to move the field into development and ramp-up production, once it is formally approved by the Association's Executive Committee, the next week.
Standard and Poor's Rating Services revised its outlook for the Company from "Stable" to "Positive" while affirming the Company's BB corporate rating and its BB senior unsecured debt rating; providing a strong endorsement of the Company's financial and operational strength, and continuing execution on its production and reserve growth targets.
In the second quarter of 2012, the Company paid a cash dividend of $0.11 per share, to shareholders of record.
Second Quarter 2012 Highlights
EBITDA increased to a record $560 million ($1,098 million for the first six months, an increase of 19% compared to the same period in 2011), driven by production growth and higher netbacks.
Net Earnings of $224 million ($483 million for the first six months, an increase of 73% compared to the same period in 2011).
Adjusted Net Earnings from Operations of $187 million ($480 million for the first six months, an increase of 20% compared to the same period in 2011).
Operating netbacks from oil and gas production of $63.12/boe, an increase of 2% over the second quarter 2011, despite a 9% decrease in WTI benchmark oil prices.
Sales volumes increased to a record 117 Mboe/d (108 Mboe/d for the first six months, an increase of 13% compared to the same period in 2011).
Total production net of royalties of 92,611 boe/d including 1,740 bbl/d* attributed from the acquisition in Peru (93,092 boe/d for the first six months, an increase of 11% compared to the same period in 2011).
Total capital expenditures of $316 million compared to $308 million in the same period in 2011, with 38% ($121 million) invested in production facilities, 35% ($111 million) in exploration and, 20% ($64 million) in development drilling.
Exploration success of 82% from drilling a total of 22 gross exploratory wells of which 18 were successful.
Significant and material acquisitions aligned with the Company's long-term growth strategy, including new production in Peru and Colombia, and new exploration acreage and resources in Colombia, offshore Guyana and onshore Papua New Guinea.
Authorization of the environmental license for increased water injection in Rubiales oil field which will allow oil production ramp-up in the field.
Agreement in principle from Ecopetrol for a declaration of commerciality of a portion of the Quifa North oil field which will allow the Company to move the field into development and ramp-up production, once it is formally approved by the Association's Executive Committee, the next week.
Standard and Poor's Rating Services revised its outlook for the Company from "Stable" to "Positive" while affirming the Company's BB corporate rating and its BB senior unsecured debt rating; providing a strong endorsement of the Company's financial and operational strength, and continuing execution on its production and reserve growth targets.
In the second quarter of 2012, the Company paid a cash dividend of $0.11 per share, to shareholders of record.
Pacific Rubiales Receives Water Injection Licence for the Rubiales Oil Field, Allowing for an Increase in Oil Production
Canada NewsWire
TORONTO, Aug. 8, 2012 /CNW/ - Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC; BOVESPA: PREB) is pleased to announce that it has received the environmental license from the Autoridad Nacional de Licencias Ambientales ("ANLA") required to increase water injection by an additional 400,000 bbl/d at its Rubiales onshore oil field in the Llanos basin in eastern Colombia.
The Rubiales heavy oil field is the single largest producing oil field in Colombia today, with over 165 Mbbl/d average total gross field production in 2011. Pacific Rubiales has an approximate 41.8% gross working interest and is operator of the field. The Colombia national oil company Ecopetrol SA ("Ecopetrol") holds the remainder of the working interest.
Ronald Pantin, Chief Executive Officer of the Company, commented:
"Receiving the water injection licence is crucial as it will allow us to increase total oil production in the giant Rubiales field to a target level of 190 Mbbl/d by the end of this year, up from 172 Mbbl/d during the first half of the year. We have pre-built the necessary water injection facilities and have oil behind pipe, which will allow us to increase oil production relatively quickly.
We are pleased that the Colombian environmental authority has been able to grant this licence which provides such an important revenue source for the Company, our partner Ecopetrol and for the country through its share from royalties, taxes and spin-off economic activity. We also recognize the efforts the ANLA has made to enhance and streamline the process to speed up licenses for oil producers in Colombia. We look forward to working with them in obtaining additional licenses required for the construction of producing facilities at the Quifa North oil field, additional water injection at the Rubilas and Quifa SW fields, and with respect to exploration of the Company's new oil discoveries, prospects and leads on the CPE-6 E&P block to the southwest of the Rubiales field."
In addition to the water injection license just received, the Company is expecting to obtain commerciality approval for the development of the Quifa North oil field from its partner Ecopetrol, and the environmental exploration license from the ANLA required to commence its planned exploration program on the CPE-6 E&P block, in the third quarter of 2012.
Canada NewsWire
TORONTO, Aug. 8, 2012 /CNW/ - Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC; BOVESPA: PREB) is pleased to announce that it has received the environmental license from the Autoridad Nacional de Licencias Ambientales ("ANLA") required to increase water injection by an additional 400,000 bbl/d at its Rubiales onshore oil field in the Llanos basin in eastern Colombia.
The Rubiales heavy oil field is the single largest producing oil field in Colombia today, with over 165 Mbbl/d average total gross field production in 2011. Pacific Rubiales has an approximate 41.8% gross working interest and is operator of the field. The Colombia national oil company Ecopetrol SA ("Ecopetrol") holds the remainder of the working interest.
Ronald Pantin, Chief Executive Officer of the Company, commented:
"Receiving the water injection licence is crucial as it will allow us to increase total oil production in the giant Rubiales field to a target level of 190 Mbbl/d by the end of this year, up from 172 Mbbl/d during the first half of the year. We have pre-built the necessary water injection facilities and have oil behind pipe, which will allow us to increase oil production relatively quickly.
We are pleased that the Colombian environmental authority has been able to grant this licence which provides such an important revenue source for the Company, our partner Ecopetrol and for the country through its share from royalties, taxes and spin-off economic activity. We also recognize the efforts the ANLA has made to enhance and streamline the process to speed up licenses for oil producers in Colombia. We look forward to working with them in obtaining additional licenses required for the construction of producing facilities at the Quifa North oil field, additional water injection at the Rubilas and Quifa SW fields, and with respect to exploration of the Company's new oil discoveries, prospects and leads on the CPE-6 E&P block to the southwest of the Rubiales field."
In addition to the water injection license just received, the Company is expecting to obtain commerciality approval for the development of the Quifa North oil field from its partner Ecopetrol, and the environmental exploration license from the ANLA required to commence its planned exploration program on the CPE-6 E&P block, in the third quarter of 2012.
Pacific Rubiales Says CPE-6 Oil Block Is ‘Easy to Develop’
Pacific Rubiales Energy Corp. (PRE) plans to increase production next year from an oil block in Colombia near the nation’s largest crude field as the government eases permitting delays.
The CPE-6 block may produce “some” barrels of crude this year once the company receives an environmental license as soon as this month, Chief Executive Officer Ronald Pantin said yesterday in an interview in Cartagena, Colombia. Output at CPE- 6 may rise to 15,000 barrels a day next year and 120,000 barrels by the end of 2014, he said.
“It’s something easy to develop,” Pantin said.
The government is speeding permitting, aiding production increases, Pantin said. Colombia, South America’s third-largest crude supplier, is trying to reduce delays that threaten to derail national production targets, oil regulator Orlando Cabrales said in June.
Pacific Rubiales gained 4.8 percent to C$23.58 at the close in Toronto, after advancing as much as 5.6 percent.
Production from the Rubiales field, the nation’s largest, will climb to 190,000 barrels a day at year-end from about 172,000 barrels a day now, after regulators awarded a water- injection permit, Pantin said yesterday on a conference call with analysts. Pacific owns the field with Ecopetrol SA. (ECOPETL)
Acquisitions
A drop in shares of some oil producers amid a “credit crunch” has created opportunities for acquisitions, Pantin said. Pacific Rubiales last month finished its purchase of Petromagdalena Energy Corp., which also produces crude in Colombia.
Pacific Rubiales is increasing reserves through exploration, including at CPE-6, where the company began searching for crude in 2008, Pantin said. Pacific Rubiales owns the venture with Talisman Energy Inc. (TLM)
Colombian output slid to 929,200 barrels a day in July from 934,000 barrels a day in June, according to the government, which targets nationwide output of 1 million barrels a day this year. Venezuela and Brazil are South America’s largest crude suppliers.
http://www.bloomberg.com/news/2012-08-10/pacific-rubiales-sa…
Pacific Rubiales Energy Corp. (PRE) plans to increase production next year from an oil block in Colombia near the nation’s largest crude field as the government eases permitting delays.
The CPE-6 block may produce “some” barrels of crude this year once the company receives an environmental license as soon as this month, Chief Executive Officer Ronald Pantin said yesterday in an interview in Cartagena, Colombia. Output at CPE- 6 may rise to 15,000 barrels a day next year and 120,000 barrels by the end of 2014, he said.
“It’s something easy to develop,” Pantin said.
The government is speeding permitting, aiding production increases, Pantin said. Colombia, South America’s third-largest crude supplier, is trying to reduce delays that threaten to derail national production targets, oil regulator Orlando Cabrales said in June.
Pacific Rubiales gained 4.8 percent to C$23.58 at the close in Toronto, after advancing as much as 5.6 percent.
Production from the Rubiales field, the nation’s largest, will climb to 190,000 barrels a day at year-end from about 172,000 barrels a day now, after regulators awarded a water- injection permit, Pantin said yesterday on a conference call with analysts. Pacific owns the field with Ecopetrol SA. (ECOPETL)
Acquisitions
A drop in shares of some oil producers amid a “credit crunch” has created opportunities for acquisitions, Pantin said. Pacific Rubiales last month finished its purchase of Petromagdalena Energy Corp., which also produces crude in Colombia.
Pacific Rubiales is increasing reserves through exploration, including at CPE-6, where the company began searching for crude in 2008, Pantin said. Pacific Rubiales owns the venture with Talisman Energy Inc. (TLM)
Colombian output slid to 929,200 barrels a day in July from 934,000 barrels a day in June, according to the government, which targets nationwide output of 1 million barrels a day this year. Venezuela and Brazil are South America’s largest crude suppliers.
http://www.bloomberg.com/news/2012-08-10/pacific-rubiales-sa…
Pacific sees oil output up 10.5 pct for Colombian field in 2013
BOGOTA, Aug 9 (Reuters) - Pacific Rubiales Energy Corp
, the largest private oil producer in Colombia, said on
Thursday it would raise output from its Rubiales field by 10.5
percent to 210,000 barrels of oil equivalent per day (boepd) in
2013 versus the end of 2012.
Latin America's fourth-biggest oil producer, Colombia, has
ramped up oil output over the last decade after a U.S.-backed
military offensive made areas of the country safer for investors
and helped reverse years of declining crude output in the 1990s.
Thanks to an environmental license at its Rubiales oil
field, it should increase production to 190,000 boepd by the end
of 2012 and to 210,000 boepd in 2013, CEO Ronald Pantin told an
investor call about the company's second quarter results.
The Rubiales field currently produces 172,000 boepd.
The field located in the heavy-oil-rich Llanos Basin is one
of Colombia's signature success stories. Burnt to the ground by
rebels more than a decade ago, better security and fiscal terms
has turned Rubiales into Colombia's top producing field.
A military crackdown over the last decade pushed Marxist
guerrillas into remote hideouts, and foreign oil companies have
flooded in, snapping up assets in a country once largely
dismissed as a failing state.
The FARC rebel group is weaker than it has been in decades,
but still poses a threat and has stepped up attacks on the oil
industry while the sector has also faced increased demands from
local communities in oil-producing provinces.
Colombia's national oil production has shot up to a record
of around 950,000 bpd and the government hopes to hit 1 million
bpd this year -- increased output at Pacific's fields are seen
as key to reaching the goal.
The company said it expected production at its Quifa field,
also in the Llanos, to rise to 60,000 bpd by the end of this
year from 44,500 bpd in the second quarter. It did not give an
outlook for output in 2013 for Quifa.
In the April-June period, Pacific sold 42 percent of its
crude to the United States, 31 percent to Europe and 20 percent
to Southeast Asia.
Total production for Pacific -- which also has operations in
Peru -- was around 250,000 bpd on Aug. 7, the company said.
Net income in the second quarter fell 36 percent versus the
same period last year to $224 million while gross revenue
increased 8 percent to $1.04 billion in the same timeframe.
"Overall, the financial results of the second quarter, 2012
evidenced the deterioration of margins due to higher costs and
expenses, and confirmed our concerns regarding the lack of
growth in production due to the delay in the approval of
licenses," local brokerage InterBolsa said in a research note.
"However, we expect a positive effect on the stock price, as
we believe that the approval of the environmental license to
expand production at the Rubiales field and the positive results
of the exploration campaign in Quifa North and Sabanero should
offset a slightly negative reading of the financial results."
Pacific stock rose 4.2 percent on the Colombia's
stock exchange on Thursday.
http://www.reuters.com/article/2012/08/09/pacificrubiales-id…
BOGOTA, Aug 9 (Reuters) - Pacific Rubiales Energy Corp
, the largest private oil producer in Colombia, said on
Thursday it would raise output from its Rubiales field by 10.5
percent to 210,000 barrels of oil equivalent per day (boepd) in
2013 versus the end of 2012.
Latin America's fourth-biggest oil producer, Colombia, has
ramped up oil output over the last decade after a U.S.-backed
military offensive made areas of the country safer for investors
and helped reverse years of declining crude output in the 1990s.
Thanks to an environmental license at its Rubiales oil
field, it should increase production to 190,000 boepd by the end
of 2012 and to 210,000 boepd in 2013, CEO Ronald Pantin told an
investor call about the company's second quarter results.
The Rubiales field currently produces 172,000 boepd.
The field located in the heavy-oil-rich Llanos Basin is one
of Colombia's signature success stories. Burnt to the ground by
rebels more than a decade ago, better security and fiscal terms
has turned Rubiales into Colombia's top producing field.
A military crackdown over the last decade pushed Marxist
guerrillas into remote hideouts, and foreign oil companies have
flooded in, snapping up assets in a country once largely
dismissed as a failing state.
The FARC rebel group is weaker than it has been in decades,
but still poses a threat and has stepped up attacks on the oil
industry while the sector has also faced increased demands from
local communities in oil-producing provinces.
Colombia's national oil production has shot up to a record
of around 950,000 bpd and the government hopes to hit 1 million
bpd this year -- increased output at Pacific's fields are seen
as key to reaching the goal.
The company said it expected production at its Quifa field,
also in the Llanos, to rise to 60,000 bpd by the end of this
year from 44,500 bpd in the second quarter. It did not give an
outlook for output in 2013 for Quifa.
In the April-June period, Pacific sold 42 percent of its
crude to the United States, 31 percent to Europe and 20 percent
to Southeast Asia.
Total production for Pacific -- which also has operations in
Peru -- was around 250,000 bpd on Aug. 7, the company said.
Net income in the second quarter fell 36 percent versus the
same period last year to $224 million while gross revenue
increased 8 percent to $1.04 billion in the same timeframe.
"Overall, the financial results of the second quarter, 2012
evidenced the deterioration of margins due to higher costs and
expenses, and confirmed our concerns regarding the lack of
growth in production due to the delay in the approval of
licenses," local brokerage InterBolsa said in a research note.
"However, we expect a positive effect on the stock price, as
we believe that the approval of the environmental license to
expand production at the Rubiales field and the positive results
of the exploration campaign in Quifa North and Sabanero should
offset a slightly negative reading of the financial results."
Pacific stock rose 4.2 percent on the Colombia's
stock exchange on Thursday.
http://www.reuters.com/article/2012/08/09/pacificrubiales-id…
Pacific Rubiales acquires another 50 million PI shares
Pacific Rubiales Energy Corp (2) (C:PRE)
Shares Issued 294,867,119
Last Close 8/10/2012 $23.58
Monday August 13 2012 - News Release
Mr. Christopher LeGallais reports
PACIFIC RUBIALES MAKES ADDITIONAL INVESTMENT IN PUERTO BAHIA PORT PROJECT
Pacific Rubiales Energy Corp. has purchased an additional 50 million common shares in the capital of Pacific Infrastructure Inc. at a price of U.S.$1.00 per share for an aggregate investment of U.S.$50 million (the "Subscription"). This latest investment by the Company in Pacific Infrastructure has been made in connection with a letter of intent dated March 26, 2012 pursuant to which the Company agreed to purchase up to 140 million common shares in the capital of Pacific Infrastructure, as previously announced by the Company on March 28, 2012.
Pacific Infrastructure is a private Panama-based company developing a new crude oil and products terminal and port (Puerto Bahia) at Cartagena on the Colombia Caribbean coast, as well as a new oil pipeline that will link CoveAplus or minusas with Cartagena.
Ronald Pantin, Chief Executive Officer of the Company commented: "This additional investment in the Puerto Bahia Port Project further solidifies the Company's role in the development of the project, ensures our foothold in what will be one of Colombia's most important infrastructure projects, and is strategic to our future oil production growth plans. We look forward to working with the Pacific Infrastructure team as we move forward in the development of the port."
As a result of funding the Subscription, the Company currently holds 111,488,415 common shares in the capital of Pacific Infrastructure, representing approximately 44.1% of the issued and outstanding shares. The Company, in its sole discretion, has until March 27, 2013 to purchase an additional 70 million common shares in the capital of Pacific Infrastructure on substantially the same terms as this Subscription. To date, the Company has invested approximately U.S.$88 million in Pacific Infrastructure.
We seek Safe Harbor.
© 2012 Canjex Publishing Ltd.
Pacific Rubiales Energy Corp (2) (C:PRE)
Shares Issued 294,867,119
Last Close 8/10/2012 $23.58
Monday August 13 2012 - News Release
Mr. Christopher LeGallais reports
PACIFIC RUBIALES MAKES ADDITIONAL INVESTMENT IN PUERTO BAHIA PORT PROJECT
Pacific Rubiales Energy Corp. has purchased an additional 50 million common shares in the capital of Pacific Infrastructure Inc. at a price of U.S.$1.00 per share for an aggregate investment of U.S.$50 million (the "Subscription"). This latest investment by the Company in Pacific Infrastructure has been made in connection with a letter of intent dated March 26, 2012 pursuant to which the Company agreed to purchase up to 140 million common shares in the capital of Pacific Infrastructure, as previously announced by the Company on March 28, 2012.
Pacific Infrastructure is a private Panama-based company developing a new crude oil and products terminal and port (Puerto Bahia) at Cartagena on the Colombia Caribbean coast, as well as a new oil pipeline that will link CoveAplus or minusas with Cartagena.
Ronald Pantin, Chief Executive Officer of the Company commented: "This additional investment in the Puerto Bahia Port Project further solidifies the Company's role in the development of the project, ensures our foothold in what will be one of Colombia's most important infrastructure projects, and is strategic to our future oil production growth plans. We look forward to working with the Pacific Infrastructure team as we move forward in the development of the port."
As a result of funding the Subscription, the Company currently holds 111,488,415 common shares in the capital of Pacific Infrastructure, representing approximately 44.1% of the issued and outstanding shares. The Company, in its sole discretion, has until March 27, 2013 to purchase an additional 70 million common shares in the capital of Pacific Infrastructure on substantially the same terms as this Subscription. To date, the Company has invested approximately U.S.$88 million in Pacific Infrastructure.
We seek Safe Harbor.
© 2012 Canjex Publishing Ltd.
Pacific Rubiales receives OK to develop Cajua
Ticker Symbol: C:PRE
Pacific Rubiales receives OK to develop Cajua
Pacific Rubiales Energy Corp (2) (C:PRE)
Shares Issued 294,867,119
Last Close 8/15/2012 $23.94
Thursday August 16 2012 - News Release
Mr. Ronald Pantin reports
PACIFIC RUBIALES RECEIVES COMMERCIALITY APPROVAL FOR THE CAJUA OIL FIELD AT QUIFA NORTH IN COLOMBIA, ALLOWING FOR AN INCREASE IN OIL PRODUCTION
Pacific Rubiales Energy Corp.'s 100-per-cent-owned affiliate, Meta Petroleum Corp., acting as operator of the Quifa Association contract, has received commerciality approval from the Quifa Association executive committee, for a portion of the Quifa North block, to be called the Cajua field.
The Cajua field covers an area of approximately 38,000 acres and lies 20 kilometers north of the Rubiales field, and approximately 30 kilometers northeast of the Quifa SW field, which currently produce at a rate of over 173 Mbbl/d and 48 Mbbl/d respectively (total gross field production). The Company operates all three fields with an approximate 41.8% gross working interest in Rubiales and 60% gross working interest in both the Quifa SW and the Cajua fields, while Ecopetrol SA holds the remainder of the working interest.
Ronald Pantin, Chief Executive Officer of the Company, commented:
"Receiving the commerciality approval for the Cajua field will allow the Company to move to full development phase and increase production from the field to a target level of 10 Mbbl/d by the end of this year, and an expected plateau rate of 15 Mbbl/d (total gross field production). Current exploration activity in the Quifa North block will shift to the almost 240,000 gross acres remaining in the block where the Company has significant certified undeveloped 2P reserves and resources in additional undrilled prospects and leads."
The Company has sufficient capacity at its existing Quifa SW oil field facilities to handle the expected increase in volumes coming from the Cajua field.
We seek Safe Harbor.
© 2012 Canjex Publishing Ltd.
Ticker Symbol: C:PRE
Pacific Rubiales receives OK to develop Cajua
Pacific Rubiales Energy Corp (2) (C:PRE)
Shares Issued 294,867,119
Last Close 8/15/2012 $23.94
Thursday August 16 2012 - News Release
Mr. Ronald Pantin reports
PACIFIC RUBIALES RECEIVES COMMERCIALITY APPROVAL FOR THE CAJUA OIL FIELD AT QUIFA NORTH IN COLOMBIA, ALLOWING FOR AN INCREASE IN OIL PRODUCTION
Pacific Rubiales Energy Corp.'s 100-per-cent-owned affiliate, Meta Petroleum Corp., acting as operator of the Quifa Association contract, has received commerciality approval from the Quifa Association executive committee, for a portion of the Quifa North block, to be called the Cajua field.
The Cajua field covers an area of approximately 38,000 acres and lies 20 kilometers north of the Rubiales field, and approximately 30 kilometers northeast of the Quifa SW field, which currently produce at a rate of over 173 Mbbl/d and 48 Mbbl/d respectively (total gross field production). The Company operates all three fields with an approximate 41.8% gross working interest in Rubiales and 60% gross working interest in both the Quifa SW and the Cajua fields, while Ecopetrol SA holds the remainder of the working interest.
Ronald Pantin, Chief Executive Officer of the Company, commented:
"Receiving the commerciality approval for the Cajua field will allow the Company to move to full development phase and increase production from the field to a target level of 10 Mbbl/d by the end of this year, and an expected plateau rate of 15 Mbbl/d (total gross field production). Current exploration activity in the Quifa North block will shift to the almost 240,000 gross acres remaining in the block where the Company has significant certified undeveloped 2P reserves and resources in additional undrilled prospects and leads."
The Company has sufficient capacity at its existing Quifa SW oil field facilities to handle the expected increase in volumes coming from the Cajua field.
We seek Safe Harbor.
© 2012 Canjex Publishing Ltd.
Pacific Rubiales hat es ja arg gebeutelt, vor allem im letzten Monat.
Ich habe PRE immer im Blick und auch schon öfter im Portfolio gehabt.
Den Absturz kann sich keiner so richtig erklären, abgesehen von ein paar wilden und eher unglaubwürdigen Gerüchten ist eigentlich nichts negatives bekannt.
Dem heutigen operationellen Update ist auch nichts negatives zu entnehmen, im Gegenteil - PRE liefert mal wieder Rekordergebnisse.
IMHO ein sehr interessanter Wert, schätze ich doch die Chance auf einen Rebound recht hoch ein. Fragt sich nur, wann er kommt.
Mit dem heutigen Update sollten aber meiner Meinung nach die meisten Unsicherheiten beseitigt sein.
Und Dividende zahlen sie auch, vierteljährlich:
Date Div
03/14/13 0.110
12/10/12 0.111
09/17/12 0.107
06/13/12 0.113
03/20/12 0.109
12/16/11 0.095
09/16/11 0.092
06/15/11 0.091
03/14/11 0.093
12/01/10 0.095
Quelle: http://www.dividendchannel.com/symbol/pre.ca/
Sag ich doch. Gestern schon DeeThree, heute Pacific Rubiales - ich sollte ins Wahrsager Business gehen, oder Lotto spielen ...
Rebound? Schöne News heute, die vierteljährliche Dividende wird um 50% erhöht. Wer sich das gehassel mit Kanadischen Steuern sparen will, sollte also vor dem 18. Juni verkaufen ...
Pacific Rubiales increases dividend to 16.5 U.S. cents
2013-06-03 06:52 ET - News Release
Mr. Ronald Pantin reports
PACIFIC RUBIALES ANNOUNCES 50% INCREASE TO ITS QUARTERLY DIVIDEND
Pacific Rubiales Energy Corp. is increasing its quarterly cash dividend by 50 per cent. The board of directors approved an increase in the dividend to 16.5 U.S. cents per common share from the previous 11 U.S. cents per common share, payable on June 28, 2013, to shareholders of record as of June 20, 2013, and to holders of Brazilian depositary receipts of record as of June 17, 2013. The ex dividend date for shareholders trading on the Toronto Stock Exchange and the La Bolsa de Valores de Colombia (or the Colombian stock exchange) as well as for those trading BDRs on the Bolsa de Valores Mercadorias e Futuros (the Brazilian stock exchange) is June 18, 2013.
"Pacific Rubiales is committed to delivering a dividend that is reliable, sustainable and competitive," commented Ronald Pantin, chief executive officer of the company. "Today's 50-per-cent increase to our dividend is a clear demonstration of our aim to balance long-term growth with returns and our confidence in the sustainability of future earnings and cash flow, underpinned by our expectation of continued growth in production.
"Our confidence is supported by a number of developments announced over the past 12 months. These include the company's strong reserves growth and a large increase in prospective resources reported for year-end 2012, a continued diversification of the reserves base with the Rubiales field now representing less than 19 per cent of total net 2P reserves, the development of a large and diversified exploration and development portfolio, and a number of structural operating cost-reduction initiatives that are expected to materialize through the remainder of 2013."
The company expects to continue paying a dividend on a quarterly basis at this level. A formal dividend policy is not currently in place, however, the board of directors of the company is in the process of developing such a policy.
The company intends to designate all dividends as eligible dividends for purposes of the Income Tax Act (Canada) unless a notification of change is otherwise posted on the company's website and on SEDAR. Provided designation is made, the dividend will be considered an eligible dividend for tax purposes. An eligible dividend received by a Canadian resident individual shareholder is entitled to the enhanced dividend tax credit.
For shareholders trading on the Colombian stock exchange, the Colombian peso equivalency shall be calculated based on the exchange rate as certified by the central bank on the date of monetization and will be published on the Simev website at the proper time.
With respect to the BDRs traded on the Brazilian stock exchange, the depositary institution in Brazil will execute the exchange agreement as of the date of the payment of the dividend to the holders of BDRs, on or about June 18, 2013, for conversion purposes. Also, the holders of BDRs registered on June 17, 2013, shall be entitled to receive the dividends from the depositary institution on or about July 5, 2013.
We seek Safe Harbor.
Pacific Rubiales increases dividend to 16.5 U.S. cents
2013-06-03 06:52 ET - News Release
Mr. Ronald Pantin reports
PACIFIC RUBIALES ANNOUNCES 50% INCREASE TO ITS QUARTERLY DIVIDEND
Pacific Rubiales Energy Corp. is increasing its quarterly cash dividend by 50 per cent. The board of directors approved an increase in the dividend to 16.5 U.S. cents per common share from the previous 11 U.S. cents per common share, payable on June 28, 2013, to shareholders of record as of June 20, 2013, and to holders of Brazilian depositary receipts of record as of June 17, 2013. The ex dividend date for shareholders trading on the Toronto Stock Exchange and the La Bolsa de Valores de Colombia (or the Colombian stock exchange) as well as for those trading BDRs on the Bolsa de Valores Mercadorias e Futuros (the Brazilian stock exchange) is June 18, 2013.
"Pacific Rubiales is committed to delivering a dividend that is reliable, sustainable and competitive," commented Ronald Pantin, chief executive officer of the company. "Today's 50-per-cent increase to our dividend is a clear demonstration of our aim to balance long-term growth with returns and our confidence in the sustainability of future earnings and cash flow, underpinned by our expectation of continued growth in production.
"Our confidence is supported by a number of developments announced over the past 12 months. These include the company's strong reserves growth and a large increase in prospective resources reported for year-end 2012, a continued diversification of the reserves base with the Rubiales field now representing less than 19 per cent of total net 2P reserves, the development of a large and diversified exploration and development portfolio, and a number of structural operating cost-reduction initiatives that are expected to materialize through the remainder of 2013."
The company expects to continue paying a dividend on a quarterly basis at this level. A formal dividend policy is not currently in place, however, the board of directors of the company is in the process of developing such a policy.
The company intends to designate all dividends as eligible dividends for purposes of the Income Tax Act (Canada) unless a notification of change is otherwise posted on the company's website and on SEDAR. Provided designation is made, the dividend will be considered an eligible dividend for tax purposes. An eligible dividend received by a Canadian resident individual shareholder is entitled to the enhanced dividend tax credit.
For shareholders trading on the Colombian stock exchange, the Colombian peso equivalency shall be calculated based on the exchange rate as certified by the central bank on the date of monetization and will be published on the Simev website at the proper time.
With respect to the BDRs traded on the Brazilian stock exchange, the depositary institution in Brazil will execute the exchange agreement as of the date of the payment of the dividend to the holders of BDRs, on or about June 18, 2013, for conversion purposes. Also, the holders of BDRs registered on June 17, 2013, shall be entitled to receive the dividends from the depositary institution on or about July 5, 2013.
We seek Safe Harbor.
Antwort auf Beitrag Nr.: 44.778.053 von snafur am 03.06.13 22:22:25Ist hier noch jemand aktiv und kann was zur aktuellen Lage sagen?
Antwort auf Beitrag Nr.: 48.793.469 von Proficamper am 16.01.15 08:57:13Bin mit einer kleinen pos drin aber auch bei CNE.
Hängt vieleicht hiermit zusammen.
Da drücken halt die schulden. Warte mal ab vieleicht sehen wir noch die
3.00 $ oder drunter.
Pacific Rubiales reduces 2015 capital budget to $1.3B (U.S.)
2015-01-14 18:18 ET - News Release
Mr. Ronald Pantin reports
PACIFIC RUBIALES PROVIDES REVISED 2015 GUIDANCE: REDUCING COSTS WHILE MAINTAINING GROWTH AND BALANCE SHEET INTEGRITY; DISMISSES RUMOURS REGARDING DEBT OBLIGATIONS
Pacific Rubiales Energy Corp. has provided a revision to the company's 2015 capital budget guidance, reducing capital expenditures from $1.5-billion to a range of $1.1-billion to $1.3-billion, reflecting a WTI oil price assumption range of $55 to $60. (All amount values in this release are in U.S. dollars, and all production numbers are expressed in net after-royalty volumes, unless otherwise stated.)
Revised guidance 2015:
Key highlights:
Net production of 150,000 to 160,000 barrels of oil equivalent per day, a slight decrease from the previous guidance, representing approximately 1-per-cent to 8-per-cent growth over expected 2014 production levels;
Average WTI oil price assumption of $55 to $60 per barrel during the year; oil price realization is expected to be $1 to $2 above the WTI benchmark price assumption;
A significant reduction in 2015 cash costs: with operating costs estimated at $28 per barrel of oil equivalent, general and administrative costs of $200-million, financing costs of $250-million, and cash taxes of $200-million expected;
Generating adjusted earnings before interest, taxes, depreciation and amortization of $1.5-billion to $1.7-billion (including funds from hedging programs and dividends from affiliates), and funds flow (cash flow) of $1.1-billion to $1.3-billion;
Exploration and development capital expenditures of $1.1-billion to $1.3-billion, the majority directed to development drilling and facilities, and a small amount to exploration.
Ronald Pantin, chief executive officer of the company, commented: "The uncertainty in oil prices continues, and although we believe that oil prices will recover, we are taking a cautious view on the timing, reducing both our costs and our 2015 capital budget, to match expected cash flow. The company has the operational and financial flexibility to adapt to the changing environment while continuing to grow production. Our reduced capital budget only has a marginal impact on production targets as we focus expenditures on our highest return and most material near-term projects.
"We continue to maintain the integrity of our balance sheet. As of this date, our consolidated debt/adjusted EBITDA leverage ratio is approximately 1.80 to 1.0, well below the 3.5 to 1.0 restricted covenant, giving the company capacity to withstand the existing oil price environment.
"Contrary to market rumours, the company is not in default under any of its debt obligations and does not expect to be at risk of payment default. The leverage covenants in our senior notes are incurrence-based covenants, which simply means the company's ability to take on additional debt may be restricted by such ratios, subject to various exemptions. All of our senior notes have maturities that extend out from 2019 to 2025.
"Pacific Rubiales remains fully focused on maintaining liquidity in this environment, by significantly reducing costs and also reducing capital expenditures by [$200-million] to $400-million, to match expected cash flow. Furthermore, we have additional flexibility from our $1.0-billion revolving credit facility, which is currently undrawn.
"Reducing costs remains a priority. Our cash operating costs are now expected to be approximately $28 per boe, benefiting from the lower Colombia peso, a number of cost reduction initiatives put in place before year-end 2014 and lower supplier service costs. We expect significantly lower G&A costs to be driven by the lower local currency exchange rate and a reduction in staff and other costs. Average royalty rates and cash taxes are also expected to be reduced in the lower oil price environment.
"Our planned monetization of mid-stream assets will continue. Prior to the end of 2014, we closed the 43-per-cent sale of Pacific Midstream to the International Financial Corp. for proceeds of approximately $320-million. The company has additional levers to raise cash without impacting production, including the remaining 57 per cent of Pacific Midstream, other mid-stream assets, including our 41-per-cent interest in Pacific Infrastructure, and divestment of non-core small producing and exploration properties.
"In summary, Pacific Rubiales enters 2015 in solid standing. We have reduced our capital expenditures to match expected cash flow in a lower-oil-price environment and have the flexibility and further discretionary components to adjust to the external environment. In addition, we continue to reduce costs through efficiency gains and operational adjustments.
"We have extended out our corporate debt maturity and have significant levers we can pull to raise additional cash. The company has the capacity to maintain liquidity and the integrity of its balance sheet through the lower-oil-price environment. We expect to meet all of our financial obligations under the terms and timing of the various debt instruments. Capital will only be allocated to the highest return and most material projects. We will continue our strategy of repeatable, profitable growth, building, for the long-term benefit of our shareholders, employees and other stakeholders, the leading E&P company focused in Latin America."
We seek Safe Harbor.
Hängt vieleicht hiermit zusammen.
Da drücken halt die schulden. Warte mal ab vieleicht sehen wir noch die
3.00 $ oder drunter.
Pacific Rubiales reduces 2015 capital budget to $1.3B (U.S.)
2015-01-14 18:18 ET - News Release
Mr. Ronald Pantin reports
PACIFIC RUBIALES PROVIDES REVISED 2015 GUIDANCE: REDUCING COSTS WHILE MAINTAINING GROWTH AND BALANCE SHEET INTEGRITY; DISMISSES RUMOURS REGARDING DEBT OBLIGATIONS
Pacific Rubiales Energy Corp. has provided a revision to the company's 2015 capital budget guidance, reducing capital expenditures from $1.5-billion to a range of $1.1-billion to $1.3-billion, reflecting a WTI oil price assumption range of $55 to $60. (All amount values in this release are in U.S. dollars, and all production numbers are expressed in net after-royalty volumes, unless otherwise stated.)
Revised guidance 2015:
Key highlights:
Net production of 150,000 to 160,000 barrels of oil equivalent per day, a slight decrease from the previous guidance, representing approximately 1-per-cent to 8-per-cent growth over expected 2014 production levels;
Average WTI oil price assumption of $55 to $60 per barrel during the year; oil price realization is expected to be $1 to $2 above the WTI benchmark price assumption;
A significant reduction in 2015 cash costs: with operating costs estimated at $28 per barrel of oil equivalent, general and administrative costs of $200-million, financing costs of $250-million, and cash taxes of $200-million expected;
Generating adjusted earnings before interest, taxes, depreciation and amortization of $1.5-billion to $1.7-billion (including funds from hedging programs and dividends from affiliates), and funds flow (cash flow) of $1.1-billion to $1.3-billion;
Exploration and development capital expenditures of $1.1-billion to $1.3-billion, the majority directed to development drilling and facilities, and a small amount to exploration.
Ronald Pantin, chief executive officer of the company, commented: "The uncertainty in oil prices continues, and although we believe that oil prices will recover, we are taking a cautious view on the timing, reducing both our costs and our 2015 capital budget, to match expected cash flow. The company has the operational and financial flexibility to adapt to the changing environment while continuing to grow production. Our reduced capital budget only has a marginal impact on production targets as we focus expenditures on our highest return and most material near-term projects.
"We continue to maintain the integrity of our balance sheet. As of this date, our consolidated debt/adjusted EBITDA leverage ratio is approximately 1.80 to 1.0, well below the 3.5 to 1.0 restricted covenant, giving the company capacity to withstand the existing oil price environment.
"Contrary to market rumours, the company is not in default under any of its debt obligations and does not expect to be at risk of payment default. The leverage covenants in our senior notes are incurrence-based covenants, which simply means the company's ability to take on additional debt may be restricted by such ratios, subject to various exemptions. All of our senior notes have maturities that extend out from 2019 to 2025.
"Pacific Rubiales remains fully focused on maintaining liquidity in this environment, by significantly reducing costs and also reducing capital expenditures by [$200-million] to $400-million, to match expected cash flow. Furthermore, we have additional flexibility from our $1.0-billion revolving credit facility, which is currently undrawn.
"Reducing costs remains a priority. Our cash operating costs are now expected to be approximately $28 per boe, benefiting from the lower Colombia peso, a number of cost reduction initiatives put in place before year-end 2014 and lower supplier service costs. We expect significantly lower G&A costs to be driven by the lower local currency exchange rate and a reduction in staff and other costs. Average royalty rates and cash taxes are also expected to be reduced in the lower oil price environment.
"Our planned monetization of mid-stream assets will continue. Prior to the end of 2014, we closed the 43-per-cent sale of Pacific Midstream to the International Financial Corp. for proceeds of approximately $320-million. The company has additional levers to raise cash without impacting production, including the remaining 57 per cent of Pacific Midstream, other mid-stream assets, including our 41-per-cent interest in Pacific Infrastructure, and divestment of non-core small producing and exploration properties.
"In summary, Pacific Rubiales enters 2015 in solid standing. We have reduced our capital expenditures to match expected cash flow in a lower-oil-price environment and have the flexibility and further discretionary components to adjust to the external environment. In addition, we continue to reduce costs through efficiency gains and operational adjustments.
"We have extended out our corporate debt maturity and have significant levers we can pull to raise additional cash. The company has the capacity to maintain liquidity and the integrity of its balance sheet through the lower-oil-price environment. We expect to meet all of our financial obligations under the terms and timing of the various debt instruments. Capital will only be allocated to the highest return and most material projects. We will continue our strategy of repeatable, profitable growth, building, for the long-term benefit of our shareholders, employees and other stakeholders, the leading E&P company focused in Latin America."
We seek Safe Harbor.
Antwort auf Beitrag Nr.: 48.793.469 von Proficamper am 16.01.15 08:57:13
Schade, dass die Anleihe eine Kindersicherung hat (Mindestnominale: 100.000). sonst hätte ich da mit gutem Timing zugeschlagen.
Sei es drum. Ist meiner Ansicht nach eine heiße Kiste. Gerade kolumbianisches Öl wird m. E. auf dem heimischen Markt das Problem haben, dass geschmuggeltes venezoelanisches Öl zu immer niedrigeren Preisen auf den Markt kommt.
Dazu hat Pacific Rubiales das Schuldenproblem. Eine Asset Impairement ist wahrscheinlich nicht zu vermeiden und dann muß man mal sehen, wie lange die den niedrigen Ölpreis durchhalten können.
Zitat von Proficamper: Ist hier noch jemand aktiv und kann was zur aktuellen Lage sagen?
Schade, dass die Anleihe eine Kindersicherung hat (Mindestnominale: 100.000). sonst hätte ich da mit gutem Timing zugeschlagen.
Sei es drum. Ist meiner Ansicht nach eine heiße Kiste. Gerade kolumbianisches Öl wird m. E. auf dem heimischen Markt das Problem haben, dass geschmuggeltes venezoelanisches Öl zu immer niedrigeren Preisen auf den Markt kommt.
Dazu hat Pacific Rubiales das Schuldenproblem. Eine Asset Impairement ist wahrscheinlich nicht zu vermeiden und dann muß man mal sehen, wie lange die den niedrigen Ölpreis durchhalten können.
Antwort auf Beitrag Nr.: 48.907.070 von DJHLS am 28.01.15 10:27:43Reizt mich natürlich auch seeehr der Laden.
Allerdings kann ich mir die Q3-Zahlen/Bilanzen so oft anschauen, wie ich will...es wird nicht besser.
Die brauchen 60 WTI um irgendwie survivalchancen zu konstruieren. Wir sind aber bei 45 WTI o.ä.. Was noch an Tafelsilber verschachert werden kann, keine Ahnung. In so einem Umfeld gibt's jedenfalls nur Ramschpreise.
Bleiben die Ölpreise, wie derzeit...bliebe nur Übernahme (durch Alfa) o. placement oder Insolvenz. Alles nicht so anheimelnd.
Allerdings kann ich mir die Q3-Zahlen/Bilanzen so oft anschauen, wie ich will...es wird nicht besser.
Die brauchen 60 WTI um irgendwie survivalchancen zu konstruieren. Wir sind aber bei 45 WTI o.ä.. Was noch an Tafelsilber verschachert werden kann, keine Ahnung. In so einem Umfeld gibt's jedenfalls nur Ramschpreise.
Bleiben die Ölpreise, wie derzeit...bliebe nur Übernahme (durch Alfa) o. placement oder Insolvenz. Alles nicht so anheimelnd.
Antwort auf Beitrag Nr.: 48.915.569 von tntxrxwelle am 28.01.15 20:12:46Gibst schon was neues zu Pacifik, Dividenden würden schon gestrichen, oder?, was kann passieren weiter?
Antwort auf Beitrag Nr.: 49.389.713 von zoj-82 am 21.03.15 15:18:28Ja, gibt was Neues...Q4-Zahlen.
Ich bleibe bei meiner obigen Ansicht.
Ich bleibe bei meiner obigen Ansicht.
jetzt geht es Richtung Norden
Eilmeldung !!!
Smallcap-Investor = ACHTUNG: Übernahmeangebot für Pacific für 6,5$
Smallcap-Investor = ACHTUNG: Übernahmeangebot für Pacific für 6,5$
Antwort auf Beitrag Nr.: 49.719.645 von Intruder66 am 06.05.15 10:51:41
Pacific
Hallo zusammen, wie sind Eure Meinungen zu Übernahme, falls dass klappt, welche Auswirkungen für Pacific wird es haben?
Antwort auf Beitrag Nr.: 49.736.598 von zoj-82 am 08.05.15 00:35:05Das Übernahmeangebot von 6,5 CAD$ wurde angenommen !
Antwort auf Beitrag Nr.: 49.829.256 von Intruder66 am 22.05.15 05:15:16
Pacific
Hi, was passiert dann mit Aktien?, bekommt jeder dann 6,5 CAD pro Aktie? Wenn ja dann wann? warum wird Pacific noch gehandelt? kann das noch weiter steigen?, oder 6,5 ist das Maximum. Danke.
Anscheinend hat ein Großaktionär das Angebot von 6,5 CAD abgelehnt !
Entweder wird jetzt aufgestockt oder die Übernahme fällt aus und alles geht normal weiter !
Entweder wird jetzt aufgestockt oder die Übernahme fällt aus und alles geht normal weiter !
Antwort auf Beitrag Nr.: 49.973.922 von Intruder66 am 15.06.15 09:33:24
00:58 (26/06) - Source: RTRS
MEXICO CITY, June 25 (Reuters)
Mexican conglomerate Alfa said on Thursday the offer it and Harbour Energy have made to buy oil company Pacific Rubiales is "full, fair and final," the company said in a statement.
The pair's C$6.50 per share offer came during difficult times for Pacific Rubiales, Colombia's No. 2 oil producer, whose shares have plunged 75 percent over the last year as crude prices fell and the company struggled under its hefty debt load.
(Reporting by Luis Rojas Mena)
((david.aliregarcia@thomsonreuters.com;
+52 55 5282 7151; Reuters Messaging:
david.aliregarcia.thomsonreuters.com@reuters.net))
Mexico's Alfa says offer for Pacific Rubiales is 'fair and final'
.00:58 (26/06) - Source: RTRS
MEXICO CITY, June 25 (Reuters)
Mexican conglomerate Alfa said on Thursday the offer it and Harbour Energy have made to buy oil company Pacific Rubiales is "full, fair and final," the company said in a statement.
The pair's C$6.50 per share offer came during difficult times for Pacific Rubiales, Colombia's No. 2 oil producer, whose shares have plunged 75 percent over the last year as crude prices fell and the company struggled under its hefty debt load.
(Reporting by Luis Rojas Mena)
((david.aliregarcia@thomsonreuters.com;
+52 55 5282 7151; Reuters Messaging:
david.aliregarcia.thomsonreuters.com@reuters.net))
Antwort auf Beitrag Nr.: 50.071.356 von fmhbolero am 29.06.15 10:37:26
(Regulator corrects name of one of the companies.
In first paragraph removes reference to Repsol and replaces with Pacific Rubiales Energy) LIMA, June 25 (Reuters)
Three energy firms - Perenco Ltd, Pluspetrol and Pacific Rubiales Energy PRE.TO - have signaled interest in bidding for Peru's biggest oil block next month, but a new contract will not be finalized until talks with locals wrap up, Peru said on Thursday.
No other company submitted a letter of interest, a step needed to take part in the auction, said Luis Ortigas, the head of state energy regulator Perupetro.
Argentine energy company Pluspetrol has operated oil block 192, formerly called block 1-AB, since 2001.
The concession now produces about 12,000 barrels per day, about a fifth of Peru's relatively small output.
Indigenous communities in block 192 in the Amazonian region of Loreto have held several protests over pollution, proceeds and land use in recent years - at times halting output.
Legally-mandated government talks with native groups over future oil development in block 192 should wrap up by mid-July, just as a winning bid is announced, said Ortigas.
"But the contract is not going to be signed as long as talks have not finished," Ortigas told reporters on the sidelines of an event.
Under a law President Ollanta Humala passed in 2011, the government must seek input from indigenous communities before moving forward with any project that could affect them. It does not, however, require their approval.
Pluspetrol's contract for block 192 expires at the end of August.
Ortigas said Peru's nationwide oil production has fallen to about 58,000 barrels per day after French firm Perenco slowed its local operations to cut costs amid low oil prices.
"Perenco had forecast it would produce 12,000 bpd and now it's producing less than 1,000 bpd," Ortigas said.
New output from oil fields being developed by Grana y Montero and China National Petroleum Corporation will likely reverse that trend in coming months, Ortigas said.
Nevertheless, Peru's overall crude output would likely fall this year from last year's 69,000 bpd.
"We'll be over 60,000 (bpd) but won't reach 70,000," Ortigas said.
"But our goal is to reach 90,000 in the next two years."
(Reporting By Mitra Taj; editing by Richard Lough and Andrew Hay)
((mitra.taj@thomsonreuters.com; +51 1-221-2130; Reuters Messaging:
mitra.taj.thomsonreuters.com@reuters.net))
CORRECTED-OFFICIAL-Three oil firms signed up to bid on Peru's biggest oil block
01:04 (27/06) - Source: RTRS(Regulator corrects name of one of the companies.
In first paragraph removes reference to Repsol and replaces with Pacific Rubiales Energy) LIMA, June 25 (Reuters)
Three energy firms - Perenco Ltd, Pluspetrol and Pacific Rubiales Energy PRE.TO - have signaled interest in bidding for Peru's biggest oil block next month, but a new contract will not be finalized until talks with locals wrap up, Peru said on Thursday.
No other company submitted a letter of interest, a step needed to take part in the auction, said Luis Ortigas, the head of state energy regulator Perupetro.
Argentine energy company Pluspetrol has operated oil block 192, formerly called block 1-AB, since 2001.
The concession now produces about 12,000 barrels per day, about a fifth of Peru's relatively small output.
Indigenous communities in block 192 in the Amazonian region of Loreto have held several protests over pollution, proceeds and land use in recent years - at times halting output.
Legally-mandated government talks with native groups over future oil development in block 192 should wrap up by mid-July, just as a winning bid is announced, said Ortigas.
"But the contract is not going to be signed as long as talks have not finished," Ortigas told reporters on the sidelines of an event.
Under a law President Ollanta Humala passed in 2011, the government must seek input from indigenous communities before moving forward with any project that could affect them. It does not, however, require their approval.
Pluspetrol's contract for block 192 expires at the end of August.
Ortigas said Peru's nationwide oil production has fallen to about 58,000 barrels per day after French firm Perenco slowed its local operations to cut costs amid low oil prices.
"Perenco had forecast it would produce 12,000 bpd and now it's producing less than 1,000 bpd," Ortigas said.
New output from oil fields being developed by Grana y Montero and China National Petroleum Corporation will likely reverse that trend in coming months, Ortigas said.
Nevertheless, Peru's overall crude output would likely fall this year from last year's 69,000 bpd.
"We'll be over 60,000 (bpd) but won't reach 70,000," Ortigas said.
"But our goal is to reach 90,000 in the next two years."
(Reporting By Mitra Taj; editing by Richard Lough and Andrew Hay)
((mitra.taj@thomsonreuters.com; +51 1-221-2130; Reuters Messaging:
mitra.taj.thomsonreuters.com@reuters.net))
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