Oromin to Farm Out Interest in Santa Rosa Concession

Oromin Exploration plans to farm out portions of its interest in the Santa Rosa oil and gas concession in Mendoza, Argentina.

Data drilling the SREx-2001 well, limited seismic work and evicence from three other regional wells suggest that there is potential for oil-bearing stratigraphic traps to the south and south-west of the well location, the company said.

As a result of these recommendations, Ormin said it seeks to farm out interest to partners who are expected to bear 100% of the costs and risks of the next programme.

The proposed programme includes additional 2D and 3D seismic work to better define the potential stratigraphic traps followed by the drilling of one or more wells.