Enap Sipetrol Argentina SA

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NEW, Enap Sipetrol Argentina SA has retained Scotia Waterous (USA) Inc. to seek strategic alternatives for its interest in the Campamento Central-Cañadon Perdido block in Argentina's San Jorge Basin in Chubut Province. Enap Sipetrol Argentina holds a 50% nonoperated interest in the block with operator YPF SA holding the other 50%. The block covers 210 square kilometers. Production is 6,000 barrels of oil per day and is expected to peak at 8,800 barrels in 2011. Proved reserves are 13.2 million barrels (60% proved developed producing). Production is from the El Trébol, Comodoro Rivadavia, and Mina el Carmen formations. Significant upside is available for development. The bid due date is Aug. 21. The effective date is July 1. Contact Randy Crath, 713-759-3433.