Interoil Acquires 12 Month License Contract in Peru
Source: www.gulfoilandgas.com 4/7/2014, Location: South America
Interoil Peru SA has secured a 12-month license contract for blocks III and IV with Perupetro. The contract's commercial terms are identical to the original license contracts.
It is expected that a bid round for a 30-year license contract for Blocks III and IV will be completed before expiry of the contract on 5 April 2015. Interoil Peru SA will participate in the bid round. Perupetro will select the new operator based on proposed investment program and royalty rate.
Interoil Colombia Exploration & Production Inc (BVI) has entered into a secured bank loan facility with Banco Colpatia, for USD 15 million. The loan carries an interest rate of LIBOR + 4,5% with maturity in February 2016.
