Canadian Occidental Petroleum Ltd. - awarded new exploration permit in Colombia.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , ALBERTA--(BUSINESS WIRE)--Aug. 10, 1995--Canadian Occidental Petroleum Occidental Petroleum Corporation ("Oxy") NYSE: OXY is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions. Ltd. announces that it has been awarded a new exploration permit covering the Boqueron Block in the Upper Magdalena Magdalena (mägthälā`nä), river, c.1,000 mi (1,600 km) long, rising in the Cordillera Central, SW Colombia and flowing N to the Caribbean Sea near Barranquilla. It flows in a fault-block valley (c. Basin of Colombia Colombia (kəlŭm`bēə, Span. kōlōm`byä), officially Republic of Colombia, republic (2005 est. pop. 42,954,000), 439,735 sq mi (1,138,914 sq km), NW South America. Bogotá is the capital and largest city. . This Block is one of the first in Colombia to be awarded under the recently improved contract terms. CanadianOxy has a 40% interest in partnership with Lasmo plc. which is the operator, and Ecopetrol, the national oil company. The Boqueron Block comprises 242,000 acres and is on trend with recent discoveries on the adjacent Espinal Block where Lasmo has made three new field discoveries to date on the Guadalupe play fairway. A 150 kilometre seismic program to identify the reserve potential of the Boqueron Block and define drilling locations is scheduled to commence by year end. Bernard Ber·nard , Claude 1813-1878. French physiologist noted for his study of the digestive and nervous systems. Isautier, President and Chief Executive Officer of CanadianOxy commented "The Boqueron Block is an attractive addition to our portfolio of high potential exploration opportunities which include the Kal, Barakan and Sintang Blocks in Indonesia, Block 12W offshore Vietnam and parts of the Masila Block in Yemen. In addition to these major exploration plays, we are actively negotiating several significant development and exploitation opportunities of proven fields in a number of resource rich emerging countries." CONTACT: Victor J. Zaleschuk, 403/234-6712 (Media and Shareholder Inquiries) REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or |
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