Benchmark Energy to Farm-In to BrazAlta Resources' Espirito Santo Brazilian Blocks
04 September 2008 - 11:00PM
Marketwired Canada
THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED
STATES NEWS SERVICES.
Benchmark Energy Corp. ("Benchmark"), (TSX VENTURE:BEE) and BrazAlta Resources
Corp. ("BrazAlta"), (TSX VENTURE:BRX) report that Benchmark has entered into a
farm-in agreement with BrazAlta whereby Benchmark can earn a 60% interest in
BrazAlta's Espirito Santo Blocks 318, 362, and 380 by funding 100% of an 83-km
2D seismic shoot. The estimated cost of the 2D seismic shoot is approximately
US$1.7 million; the seismic program has already commenced.
The 3 blocks are found onshore within a proven petroleum region of the Espirito
Santo Basin in eastern Brazil, nearby to numerous producing fields. Benchmark
will fund the seismic program in Brazil out of a portion of the proceeds from
the sale of its Cosmos interest in Tunisia; the Tunisia sale is expected to
close in the near future.
While Benchmark intends to continue to seek farm-in and acquisition
opportunities in Colombia, the farm-in to the BrazAlta blocks represent a first
step by Benchmark into a new country in Latin America.
Benchmark is a junior Canadian oil and gas exploration company, focused
internationally.
BrazAlta is a publicly traded Canadian based international oil and gas
corporation with operations in Brazil, Northern Ireland and Canada. For
additional information, please visit BrazAlta's website: www.brazalta.com.
This news release shall not constitute an offer to sell or the solicitation of
any offer to buy the securities in any jurisdiction.
Bee Vectoring Technologies (TSXV:BEE)
Historical Stock Chart
From Jan 2025 to Feb 2025
Bee Vectoring Technologies (TSXV:BEE)
Historical Stock Chart
From Feb 2024 to Feb 2025
Real-Time news about Bee Vectoring Technologies International Inc (TSX Venture Exchange): 0 recent articles
More Benchmark Energy Corp. News Articles