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South America / GoM >>> Paraguay

Paraguay: Petro-Victory farming out Pirity Block in Paraguay

28 Jan 2009

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Petro-Victory is inviting select companies to join a major exploration venture in its wholly owned, 1.98 MM acre Pirity Block in Paraguay. The Block borders Argentina where the same petroleum system has produced 174.1 MMBOE, mostly 40-44 API sweet crude. Petro-Victory anticipates hundreds of millions of barrels from the Pirity Block.

Project Highlights:

  •  8,500+ acre structures have been mapped. Nine prospective closures and seven additional leads have been identified by local experts working with Schlumberger and IHS.
  • Paraguay is a stable democracy and a member of the OAS, the International Arbitration Treaty and the Kyoto Protocol.
  • Decades of disparate data have been integrated for the first time. 7,000 km of seismic, 1,300 km reprocessed, 600 km inverted and multi-well data analyzed.
  • The Concession is Paraguayan Law with favorable terms. The Environmental Permit has been issued - no barriers. The country's hydrocarbon law is one of the most favorable in the world.
  • The terrain is similar to West Texas and the structures are simple – drilling is expected to be straightforward.

To express interest in this opportunity, contact IndigoPool or visit Petro-Victory at NAPE 2009, booth 762.  

Source: IndigoPool

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