VANCOUVER, Sept. 5, 2019 /CNW/ - CruzSur Energy Corp. (the "Company" or "CruzSur") (TSXV: CZR), announces it has received a natural gas purchase offer for the Maria Conchita field in Colombia from Energy Transitions SAS ESP. This is a binding offer to purchase the natural gas delivered at the well head for 10 years. With this agreement, Energy Transitions SAS ESP will install the treatment facilities at its own risk and infrastructure necessary to transport the gas according to the adopted monetization scheme (CNG, LNG, Gas to Power, pipeline, etc.) and will have the right of first purchase option for any gas that CruzSur and/or its affiliates produces in their other blocks such as SN-9 and Tiburon.
Energy Transitions SAS ESP partners have more than 17 years of experience in the development of natural gas businesses in Colombia, in applications such as CNG, LNG, Gas to Power, NGV and gas pipelines. Currently, this company has strategic allies to develop projects in a short term and under the fulfillment of all the technical and quality standards required by the Oil & Gas Industry.
About CruzSur Energy Corp.
CruzSur Energy Corp. is a publicly traded E&P company focused on proven oil & gas plays in Latin America. The Company holds a large diversified portfolio of producing, development and unexploited assets in Colombia and Argentina where it will leverage its amplitude of technical expertise and proven track record building companies and creating value.
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. The information in this news release about the completion of the operations described herein, and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms of such transaction.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, risks related to the Company's inability to perform the proposed operations.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to complete the planned operations and activities. The Company has also assumed that no significant events will occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE CruzSur Energy Corp.
For further information: CruzSur Energy Corp., Serafino Iacono, Interim CEO; Marianella Bernal Parada, CFO, Tel: (604) 609-6110