Sep. 30, 2013, 8:49 AM
- Pacific Rubiales Energy (PEGFF.PK) agrees to acquire Colombian oil producer and explorer Petrominerales (PMGLF.PK) in a deal totaling $1.6B, including the assumption of ~$640M in net debt.
- The transaction includes 18 exploration and development properties in Colombia and four blocks in Peru, covering a total of nearly 40K gross sq. km and producing ~19M bbl/day of net oil in H1 2013.
Jun. 17, 2013, 10:59 AM
A 50% cut in Petrominerales' (PMGLF.PK) market value has left its equity and net debt valued at the cheapest multiple to profit among any oil and gas explorer in the world with a market value higher than $250M, according to Bloomberg, which speculates its reserves, estimated at 40M-plus barrels of mostly high-quality light oil, could attract suitors such as Enbridge (ENB), TransCanada (TRP) or Pacific Rubiales (PEGFF.PK).| Jun. 17, 2013, 10:59 AM | 3 Comments
Jan. 30, 2012, 1:11 PMPeru oil explorer Veraz Petroleum (VRZPF.PK) up over 30% on four-times normal volume with no published news. Veraz and 80% partner Petrominerales (PMGLF.PK) are drilling a high-impact well in Peru named La Colpa2X, which, if successful, would be a company maker for Veraz and very material for Petrominerales as well. (submitted by Devon Shire) | Jan. 30, 2012, 1:11 PM