From Tuesday, August 08th to Monday, August 14th, 2017
Gran Tierra Energy Inc. is evaluating the sale of its oil assets in the the Peruvian amazon, with a total value of US$ 81 million
The Canadian oil company Gran Tierra Energy Inc. is evaluating different strategic options in respect to the oil assets it maintains in the Peruvian amazon. Among the options considered by the company are the division or corporate spin-off, the association with third parties, the development of such assets or the sale thereof.
The objective of the company is to maximize the value of these assets that currently stands at US$ 81 million as reported. To date, Gran Tierra owns the 95, 123 and 129 oil lots, all of which are located in the central forest of Peru, which show little advance in their exploitation due to the problems that the locations have presented.
The Board of Creditors of Doe Run Perú will meet on August 15th and 18th to decide on the modification to the guidelines for the sale of the company's assets
The Board of Creditors of the company Doe Run Perú must meet on August 15th and 18th with the purpose of approving the necessary modifications to the guidelines for the sale of the company's assets, by which the complex of La Oroya and the Cobriza mine would be sold separately and no longer simultaneously.
These amendments will have to be ratified by the board in September, when the new guidelines and the value of the assets included in the sale process are going to be approved. The estimated value of the La Oroya complex is determined at US$ 336 million, while the value of the Cobriza mine is determined at US$ 70.7 million. As long as there are no upcoming auctions considered, the government is preparing the extension of the term of administration of the company for an additional year.