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San Enrique Petrolera S.A.
San Enrique Petrolera S.A. (“San Enrique”) is a Buenos Aires based E&P company that controls interest in five non-operated, producing fields totaling 251,376 net acres. The fields are situated within the Neuquén, Austral (Tierra del Fuego) and Golfo San Jorge basins and produce over 1,000 barrels of oil equivalent per day. Producing reserves (P1) are estimated at approximately 4.4 million barrels of oil equivalent with total Producing, Probable and Possible (P3) reserves estimated at 49 million barrels of oil equivalent. Purchase of San Enrique includes interest in two and three dimensional seismic data sets, all gathering, oil treatment and storage facilities on the concessions as well as oil transport and existing sales contracts.
Pluris is pressing forward to close on the San Enrique acquisition, however, closing has been delayed due to injunctions imposed on the sale of San Enrique by two of its joint venture partners on its Tierra del Fuego concession. Pluris management is taking the necessary steps to ensure Pluris’ rights and interests are protected and that resolutions related to the injunctions can be made in a timely manner, however, there is no assurance as to when such issues will be resolved.