Page 7 - LatAmOil Week 04 2020
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LatAmOil HONDURAS LatAmOil
CaribX seeks majority stake
in Main Cape offshore Honduras
UK-BASED CaribX is looking to become the majority shareholder in Main Cape, a licence area located offshore Honduras.
In a statement dated January 29, CaribX said it wanted to raise its stake in Main Cape from 15% to 55%. The company is eager to take this step before the scheduled spudding of an explo- ration well, the first to be drilled offshore Hon- duras in the last four decades, in 2021 or 2022, it said.
It did not say, though, when it would be able to accomplish this goal. The statement noted that the company could not acquire more equity in the project until the Honduran government had approved its plan.
The company further stated that it had closed out its latest round of fundraising “with a con- sortium of institutional and private investors to fund its work programme obligations, busi- ness development and regional growth plans.” It did not elaborate, but it did report that it had appointed one new member to CaribX’s board of directors and two new members to the firm’s advisory panel.
The new board director, the company said, is Ivan Sandrea, who served as CEO and founder of Mexico’s first independent upstream operator Sierra Oil and Gas until last year, when it was acquired by the German company Wintershall Dea. The new members of the advisory panel are Mark Shann, Sierra’s former technical director, and Armando Zamora, an expert on energy pol- icy and the Latin American region who formerly served as director-general of Colombia’s oil and gas regulator (known locally as ANH).
Rory Scott Russell, CaribX’s CEO, said these changes would benefit the firm. “We are pleased to have closed this latest round of funding and
COLOMBIA
Investment in Colombian oil and gas set to rise this year
delighted to have such a highly qualified and experienced group of explorers and entrepre- neurs joining the company,” he commented. “Attracting the team behind Sierra and the giant Zama discovery demonstrates the enor- mous potential offshore Honduras and in the region, as well as the subsurface similarities to the super-giant oilfields of Mexico. [With] Armando Zamora’s experience with regulatory and government affairs and our existing deep technical knowledge, CaribX has a world-class leadership team to take the company forward and address the many opportunities emerging in the region.”
Russell added: “Our first step is to increase our interest to 55% in the Main Cape licence in Honduras before drilling, which is expected in 2021-2022. This marks an exciting new chapter in our company’s history.”
Main Cape lies offshore Honduras (Image: CaribX)
COLOMBIA is on track to see investment in oil and gas projects rise substantially this year, accordingtoalocalindustrygrouprepresenting private operators.
Earlier this week, the Colombia Petroleum
Association (known by its Spanish acronym ACP) published a report predicting that the South American country’s oil and gas sector would attract $4.97bn worth of investment in 2020.
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