Canada oil and gas junior Suroco Energy Inc. said Tuesday it has agreed to sell its interest in the Arjona Block in Colombia for US$1.2 million.
The Calgary-based company had held a 50 per cent working interest in the Vetra-Suroco Consortium with Ecopetrol SA, which in turn held a 60 per cent interest in Arjona.
The deal requires approval of partner Ecopetrol and is consistent with Suroco’s “strategy to focus capital towards light oil projects in its core Putumayo Basin holdings.”
Suroco explores for, develops, produces and sells crude oil, natural gas liquids and natural gas in Colombia and Western Canada. (Canadian Press)