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Oromin Explorations Ltd. > Message
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Santa Rosa update

Posted by: doublem2 on April 19, 2008 09:07AM

"before the end of the month"!

ok .. it looks like we are getting somewhere with santa rosa .. this is a translated article published wednesday in argentina..i have done a translation online which is better than the google translation i also included the original in case someone is a better translater than the computer..lol








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Subject: holy rose

The Government will offer three new permissions for petroleum exploration They correspond to the Plan Argentina and they are found in Ranquil North and Holy Rose. Investment of US$115 million

despite that since the Executive they advanced yesterday that "before end of month" there will be news on the dilated tender of the 12 petroleum areas reverted, the certain thing is that there is a decision anticipated: concesionar other 3 located in Ranquil North and Holy Rose, that compromise investments in exploration by or$s 115 million.
The concessions correspond to the call Plan Argentina, and they went back to done presentations in 2001. At home of Government they discount the seen good of District attorney's Office of State, last step so that the governing firm Check the resolution that will favor to three international petroleum groups; the Canadian one Oromin (for the deposit B-9, in Holy Rose, next to Vizcacheras), the American one Apache, by the block I of Ranquil North, the most promising one in potential, and Wintershall, of the German group Basf, that bets on the Block II. The three they are you considered "secondary areas and of risk".

When the energy horizon demands more resources, the measure aims at to decompress a complicated situation, since in the last six years Mendoza has had only 6 exploratory wells distributed in two areas. In the hands of YPF, Petroandina and Equitable Resources, they expect for more than one year the permission of formal concession of the local Government to exploit. In the meantime, still is recognized them in phase of exploration, although already they produce 607 thousand cubic meters (equivalent to a 11% of the annual volume extracted in Mendoza), thanks to a permission of the Nation, but without being adjusted to the provincial law of Hydrocarbons N° 26,197. The deposits of Zampal Western (concesionados to the company YPF-Equitable), next to other five of the Governing area Ayala (Basin Neuquina- Malargüe South), among the ones that are Hill Huanul South, The Corcobo North, Pool Marries of Stone and Green Prairie, they contributed $ 63.5 million in perquisites during 2007, on a total collected of $ 577 million. Without a concession offered by the Government mendocino, the three companies mentioned "loosen" of a time limit of concession (25 years since the granting), and to invest.


it consulted on the future of the 12 petroleum areas reverted that not yet is resolved, Musso indicated that "before end of month, Check will sign the first concessions". Numbers that do not close In the provincial Government they admit that in recent years there was an exponential growth in the number of petroleum wells in the province, but that itself has not been seen reflected in the figures of production. According to data of the assistant Directorship of Perquisites, while to December from 2001 the production of crude oil surpassed the 6 million cubic meters, with 1,441 drillings, the 2007 finalized with almost 5.6 million cubic meters, but with 1,982 registered wells
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