Petroamerica Oil is to acquire participating interests in four exploration blocks in the Llanos Basin of Colombia from Talisman (Colombia) Oil & Gas.
As per the agreements Petroamerica will pay $18m in cash to Talisman.
Following the payment Petroamerica, through its subsidiary Petroamerica International, will earn a 25% participating interest in the El Porton block and 50% participating interests in the Los Ocarros and El Sancy blocks.
The participating interest in the El Eden block excludes the Chiriguaro-1 discovery.
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