MX Oil plc is pleased to announce that, together with its partner Geo Estratos, the Company will submit tenders for five Land Contract Areas in the third phase of the Bid Round 1 Licensing for onshore conventional concessions in the re-opening Mexican energy sector.
In this third phase, a total of 25 Land Contract Areas in the states of Chiapas, Nuevo Leon, Tabasco, Tamaulipas and Veracruz will be awarded to companies that are successful in the tender process. The award of concessions is expected to be announced later in Mexico and the Company will update the market as soon as the results are received.
MX Oil's Chief Executive Officer Stefan Olivier said, "Having completed due diligence together with our partner Geo Estratos we are excited to be submitting tenders for what we believe to be five highly prospective blocks in Mexico. With the results due to be announced later today in Mexico, we look forward to updating the market on the outcome of our submissions."
