Calling Peru: Loon ties up exploration rights
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Peru opens door to Loon
Calgary-based Loon Energy has been granted the rights to explore for hydrocarbons in Block 127 of the Maranon basin in north-east Peru, the company said today.
Under the terms of the exploration contract signed with Peru's licensing company Perupetro, Loon has committed to acquire, process and interpret 390 kilometres of 2D seismic, reprocess 2000 kilometres of 2D seismic and prepare certain technical studies or perform an equivalent amount of work.
Block 127 is about 9675 square kilometres in size and is located in the Amazon basin area of Peru.