Frontera Energy struck a deal with Toronto-listed peer Parex Resources to farm
into a non-op 50% WI in the 223,650-gross-acre VIM-1 block in the Lower Magdalena
Basin in Colombia. In exchange, Frontera will fund all of the first $10 million of the drilling,
testing and completion costs of the La Belleza-1 exploration well, after which costs on
the block will be split evenly with Parex. Frontera currently expects the well will
commence drilling during Q2.
Frontera plans to drill 27
development......
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