| Pacific Exploration & Production Corp. - PRE.t (formerly Pacific Rubiales Energy Corp.) is the largest independent oil and gas exploration and production company in Colombia.|
The company owns 100% of Pacific Stratus and Meta Petroleum Limited, two Colombian oil & gas operators which operate and own interests in the Rubiales and Piriri oil fields in Colombia’s Llanos Basin and the La Creciente natural gas field in northern Colombia.
On March 17, 2016 the company released News
"Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) announced today that the Company is aware of media reports regarding its ongoing debt restructuring process. While the Company does not comment on market rumours, it confirms, as previously disclosed, that it continues to be in the midst of discussions with all stakeholders to strengthen the Company's capital structure and make it more suitable to current market conditions. As part of those discussions, various proposals are being evaluated by the Company and its advisors. This is an ongoing process and no definitive timetable has been set on acceptance of proposals, which are subject to confidentiality provisions. There can be no assurance that any proposal will be accepted or otherwise implemented. The Company will disclose relevant information in a timely manner in accordance with applicable securities laws.
Pacific Exploration & Production Corp. is a Canadian public company and a leading explorer and producer of natural gas and crude oil, with operations focused in Latin America. The Company has a diversified portfolio of assets with interests in more than 70 exploration and production blocks in various countries including Colombia, Peru, Guatemala, Brazil, Guyana and Belize. The Company's strategy is focused on sustainable growth in production & reserves and cash generation. Pacific Exploration & Production is committed to conducting business safely, in a socially and environmentally responsible manner.