09:54 AM EST - Pacific Rubiales Energy Corp. : announced today that it has executed an agreement with Petrodorado South America S.A. (a wholly-owned subsidiary of Petrodorado Energy Ltd.) for the earn-in of an additional participating interest in the Buganviles Block. Under the new agreement, Petrodorado Energy will earn an additional participating interest in the Visure and Tuqueque Prospects by covering 100% of the Company's costs in exchange for a 29.5% and 25% additional participating interest, respectively (for a 49.5% and 45% total participating interest, respectively). The farmouts in this block will result in an approximate reduction in the Company's exploratory commitments of $8.94 million U.S. for the next two wells. The Company has retained operatorship of the block. Pacific Rubiales Energy Corp.
shares T.PRE are trading up $0.07 at $24.64.
