Overview

• Decree 1908, signed by Governor Alfredo Cornejo and Energy Minister Jimena Latorre and published in the Boletín Oficial, formally calls a national and international tender for exploration in 12 provincial areas.
• The blocks are Atuel Exploración Sur, Atuel Exploración Norte, Boleadero, Calmuco, Chachahuen Norte, CN III Norte, Los Parlamentos, Puesto Pozo Cercado Occidental, Ranquil Norte, Río Atuel, Sierra Azul Sur and Zampal.
• The Dirección de Hidrocarburos will set purchase and submission dates, with the call to be published at least 10 days in national and international media and a minimum of 60 days before receiving offers.
• The pliego eliminates entry canons and extraordinary rent and production canons, sets a participation fee of US$15,000 payable in pesos, and requires at least one exploration well in the second exploration period.
• Prior initiatives are recognized: Hattrick invested US$325,000 in a TEA at Atuel Exploración Sur and holds preference rights, while PCR was declared initiator at Río Atuel with a US$2.98 million proposal, with a 75% reimbursement clause applying if Hattrick is not awarded.