RE:RE:New Press Release - Parex Resources Announces Enhanced Strategic Partnership with Ecopetrol and Provides Operational UpdateThe only positive in the news release was the enhanced partnership agreement with EcoPetrol which will add 2P reserves net to Parex of 18 million bbls oil on development wells with very low risk at Putumayo Blocks.
Other than that, it's business as usual. I'm wondering if they will continue drilling at Arantes even though the Arantes-1 well was abandoned due to technical and safety issues?
Parex could have provided more details, but maybe they need to do more analysis first. I'm not convinced that this info was not leaked as the share price began dropping in the last week.
Not impressed with management on this issue.