Following the receipt of unsolicited interest from several parties regarding early stage participation in its Uruguay concessions, Petrel Energy Limited and, its 51% owned partner-operator, Schuepbach Energy International (“SEI”) have elected to commence a process for a farmin partner for its Salto and Piedra Sola concessions in the Norte Basin, Uruguay. Royal Bank of Canada has been engaged to assist in this global process.
Mr David Casey, Managing Director of Petrel, said: “We are actively engaged with a number of parties who have expressed interest in participation in our Uruguayan concessions. We will continue to review all options to maximise shareholder value for this unique high quality and high impact asset”.
