ARGENTINA

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Hispania Petroleum began operations in Argentina in 1991 after acquiring “Area Puesto Guardian” in the “Noroeste Basin”. Operations in Argentina have focused on developing Puesto Guardian’s five oil fields which stretch over 633 km2.

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The company’s redevelopment project was successful by maintaining low operational costs. Hispania was able to test and appraise significant upside while operating the block.

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The 350 Km 3-D seismic shot in Area Puesto Guardian allowed Hispania to identify a structure with an area of approximately 18 square kilometers and total unrisked resources of 10 billion cubic meters of gas and 9 million barrels of condensate (“best” recoverable volume estimates, Gaffney & Cline report).

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Hispania exited the block in 2014 but has maintained its presence in Argentina evaluating new opportunities