Winchester Energy Ltd has partnered with Jaguar Exploration to jointly seek offshore oil exploration rights in Peru, aiming to improve its market presence. The agreement allows Winchester to operate while holding an 80% interest in the exploration efforts.
Winchester Energy Limited has entered into a non-binding term sheet with Jaguar Exploration, Inc. The two companies aim to jointly pursue offshore petroleum exploration rights in the Lima and Pisco Basins of Peru. Should their application succeed, Winchester will manage the project with an 80% share in the Technical Evaluation Agreements, whereas Jaguar will retain a 20% interest.
The partnership with Jaguar Exploration represents a strategic move for Winchester Energy Ltd to expand its offshore operations. The potential for attracting additional investment for future drilling activities enhances the company’s market stance in the petroleum exploration sector. Winchester’s ongoing commitment to exploration underscores its objective to capitalize on emerging opportunities in the oil and gas industry.
Original Source: www.tipranks.com
