Perisson Signs Global Farm-in Agreement with CNOG Perisson Signs Global Farm-in Agreement with CNOG
Perisson Signs Global Farm-in Agreement with CNOG
Calgary, Alberta (FSCwire) - Perisson Petroleum Corporation (“Perisson” or the “Company”) (TSXV: POG) is pleased to announce that on June 12, 2018, it signed a Farm-In Agreement with Oil & Gas Engineering Co Ltd of CNNC Geo-Mining Shaanxi (“CNOG”).
Through this Farm-in Agreement with CNOG, Perisson continues to expand its growth plan and corporate value chain to become an integrated global oil and gas company. Under the Farm-in Agreement, CNOG can elect to participate in the Farm-in Programs provided by Perisson whereby CNOG would provide the funding and potential access to equipment, technical and logistical capabilities to assist in the development of the farm-in opportunities.
The Company continues to look for suitable oil and gas acquisitions, including farm-out candidates, and associated infrastructure, to leverage the Company’s access to drilling capital, equipment and expertise. We look forward to developing partnerships with oil and gas companies with asset rich prospects that require significant funding to fully exploit.
Perisson is a worldwide partner with CNOG for the acquisition of petroleum assets and petroleum product delivery into China. Recently, Perisson announced that it had signed a memorandum of understanding to acquire a significant interest in the Xinquan Refinery and tank storage in China. Due diligence is underway for the refinery acquisition.