Pursuing and developing exploration project opportunities in Latin America

Projects

2014 DRILLING CAMPAIGN

The Drilling Campaign Corresponding to the Oil and Gas Property in Paraguay

The Company holds a 36 percent working interest in the Pirity Concession, which is approximately two million acres in size and located in western Paraguay’s underexplored Pirity Sub-basin, near the Argentinian-Paraguayan border. The Pirity Sub-basin is a contiguous extension of Argentina’s prolific Olmedo Sub-basin, which has demonstrated production, and is structurally positioned similar to the nearby Palmar Largo fields with reported reserves.

Cretaceous Rift Basin Showing the Pirity Concession

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2014 Pirity Concession Drilling Program

In order to meet the incremental targets under the Pirity Farm-Out, President Energy has entered into an agreement with Schlumberger’s Integrated Project Management team for project management and integrated drilling services. President Energy has also entered into an agreement with Queiroz Galvão Óleo e Gás for the 2014 drilling campaign, one of the largest drilling contractors and production services providers in Brazil.

Map of Prospect Well Locations

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Click to enlarge

Click here for information related to Well 1 - Jacaranda.

Click here for information related to Well 2 - Lapacho.

Click here for information related to Well 3 - Tapir.