Vast said in a statement on Friday that it had terminated a farm-out agreement on its wholly-owned Block PUT-03, which covers almost 600 square kilometres in the Putumayo basin of Colombia.
Under the deal, Vast had agreed to farm out a 90% stake in the block to Sagres in exchange for a 10% carried interest in the first exploration phase. This phase was for a 36-month period and comprised a minimum expenditure of US$12.9
