TORONTO, Oct. 9 /CNW/ - Pacific Stratus Energy Ltd. (TSX: PSE) announced
today that it has completed the bidding process to assign 34,807 million
British Thermal Units per day (MBTUD) of natural gas that will be produced at
the La Creciente Field from the Prospect A extended well tests.
Six companies participated in the first public gas auction in Colombia,
including power plants, industrial users and local gas distributors.
Following the previously established auction rules, after three offering
rounds, the gas was finally assigned to Petroquimica Colombiana for 5,400
MBTUD at a gas price of US$3.75/MBTUD and to Gecelca for 29,407 MBTUD at a gas
price of US$3.71/MBTUD.
The price for the total amount of gas negotiated through the auction
Pacific Stratus Energy is a Canadian-based oil and gas company that
initiated operations in 2004. The company is focused on identifying attractive
opportunities primarily within the upstream Sub Andean basins. Pacific Stratus
has a current net production of 1,900 barrels of oil per day, with working
interests in the Caguan, Dindal, Rio Seco, Puli B, La Creciente, Moriche,
Guama and Arauca blocks in Colombia and blocks 135, 137 and 138 in Peru. The
company has offices in Toronto, Caracas and Bogota. Further information is
available on our website at www.pacificstratus.com.
For further information:
For further information: Jose Francisco Arata, Chief Executive Officer,
(416) 362-7735, firstname.lastname@example.org