Vancouver, British Columbia / ACCESSWIRE / April 24, 2014 / Jagercor Energy Corp. (JEM:CSE)( the “Company” or “Jagercor”) is pleased to announce that it has signed a memorandum of understanding (MOU) with Central International Corporation Sucursal Argentina (“Central”), an upstream oil and gas operator in Argentina, to jointly evaluate and develop commercial opportunities in oil and gas exploration, development and production in Argentina.
The MOU was recently signed by Edgardo Russo, President and CEO of Jagercor Energy Corp.; and Pablo Chebli, Vice President and Country Manager of Central International Corporation Sucursal Argentina. The purpose of this MOU is for both parties to jointly indentify and pursue a suitable mutual business opportunity in the oil and gas business in Argentina.
Jagercor and Central International Corporation agree to commence to work together to further their discussions regarding a possible joint venture partnership. Under the terms of the MOU, both parties would split the capital investment and associated risks, including a production operation services partnership or a jointly field development plan partnership involving one or more of the concessions currently held by Central in Argentina, including the following: “Catriel Oeste”; “Puesto Prado”; “Las Bases” and/or any other exploitation or exploration field or concession that either party may present to the other.
Mr. Russo, Jagercor´s Chief Executive Officer, commented: “This is a fantastic first step that we were able to accomplish within a tight schedule. It puts us right on course in order to begin execution of our plan of managing oil production in Argentina; together with Central Resources, a company with very high quality fields, that represent more than 200 wells opportunity with a current oil production of 1500 bbls per day, and a large book of reserves to keep the production growing the following years”.
About Jagercor Energy Corp.
Jagercor Energy is a diversified, upstream oil and gas services company with capabilities in reservoir development, production optimization and production management. The company has a skillful technical and highly trained management team with many years of operational experience in the oilfield operation sector in Argentina.
About Central International Corporation Sucursal Argentina
Central, an upstream oil and gas operator in Argentina, is the registered Argentine branch of Central International Corp., an affiliate of Central Resources, lnc. which, through its affiliates, has proven global experience and successful track record as an oil and gas operator of upstream projects.
On behalf of the Board of Directors
JAGERCOR ENERGY CORP.
President & CEO
For further information, please contact:
Investor Relations: Etienne Moshevich at 604 681 0084
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Source: Jagercor Energy Corp.