One-Page Deal Sheet
Samarium Picks Up 70% Stake in Colombian Project; Inks JOA
Samarium Energy & Resources Corp Gulfsands Petroleum Plc
Announced Date
October 19,2016
Transaction Type
Farm-In/Farm Out
Asset/Basin:
{"Putumayo Basin"}
Transaction Details: Subscribe to see
Gulfsands Petroleum has signed a Farmout Agreement relating to the Colombian, Putumayo-14 Exploration and Production of Hydrocarbons Contract No 2 of 2013.
The Farmout Agreement has been agreed with Samarium Energy & Resources Corporation. The Company has also simultaneously entered into a Joint Operating Agreement with Samarium Energy & Resource Corporation regarding the operations of the PUT-14 Contract.
Under the terms of the Farmout Agreement:
Samarium will initially take a 70% Participating Interest in the PUT-14 Contract for nil consideration. Samarium has the right, prior to receiving…South America Deal Activity In Last 12 Months
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