Nicaragua Approves Oil Exploration Concession
Infinity Energy Resources Company, Inc. received government approval to explore 1.4 million acres of the Caribbean Sea coast.
Monday, March 16, 2009
The CEO of Infinity Energy Resources, Stanton E. Ross, manifested in the company’s press release: "The final approval of contracts for exploration [of natural gas and oil] and development by the Ministry of Energy and Mines and the Government of Nicaragua will allow the company to proceed with exploration activities."
Spanish oil company Repsol has announced its interest in exploring oil deposits in the subsoil of the new Nicaraguan Caribbean seas.
The company Infinity Energy Resources has completed its Environmental Impact Assessment (EIA) of gas and oil exploration activities in Nicaragua's Caribbean Sea.
Infinity Energy Resources, owner of oil and gas concession in Nicaraguan waters, acquired seismic data for them.
The government will sign two concession contracts with Infinity Energy for oil and natural gas exploration and exploitation.
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