Veraz Petroleum Ltd.
Veraz Petroleum is a junior international oil and gas exploration company with operations in Peru. On November 19, 2008 the Company announced a joint venture with Petrominerales Ltd. to further develop the Company's 2.7 million acre exploration block, Block 126, situated in east central Peru. The transaction was approved December 4, 2009 by the Peruvian Government and Petrominerales was appointed operator with a 55% working interest while Veraz will retain a 45% working interest. The Environmental Impact Assessment (EIA) was approved by Peru's Ministry of Energy and Mines on May 29, 2009 thereby allowing the company to initiate a 150 sq. km 3D and 50 km 2D seismic survey over an existing well to which a previous operator assigned 59 MMbbl recoverable reserves. The seismic was completed in late 2009 and interpretation thereof and choice of final drilling locations is ongoing.
Veraz is listed on the Toronto Stock Exchange- Venture ("TSX") under the symbol VRZ.