Dahava Petroleos SAECA: Takes Major Position in Oil and Gas Exploration in Paraguay

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• Publié par: dahava-petroleos-saeca
• Nombre de lectures: 32
• Langue: English

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Dahava Petroleos SAECA: Takes Major Position in Oil and Gas Exploration in Paraguay

PR Newswire GUARANÍ, Paraguay, August 6, 2012

GUARANÍ,Paraguay,August 6, 2012/PRNewswire/ -- We are pleased to announce that the Dahava Group, a private equity corporation led by Joseph Goldstein of theUSAspecializing in natural resources, whose operations include two diamond mines and a black jade operation and oil and gas concessions inSouthern Africa, has established itself inParaguay, with the intention of becoming a major force in the exploration and exploitation of oil and gas. Dahava Petroleos SAECA, a Paraguayan company, has acquired Aurora Petroleos SA, Boreal Petroleos SA and CDS Energy SA, thus bringing into a single entity, vast areas of oil and gas exploration inParaguaywith Dahava's international experience. This combination will allow the Republic ofParaguay to become a major regional force in the production of hydrocarbons in the next three years. Through these acquisitions, Dahava Petroleos SAECA becomesthe partner of the Government ofParaguayto carry out the development of more than 3 million hectares in north-westernParaguay. Dahava ia also acquiring 6 miilion hectares in theParanaBasin in South East the country. TheParanaBasin is one the most promising under-explored areas with the potential for significant new oil production in the next 5 years. Independent expert reports on oil and gas potential of the areas under the contracts to Dahava, show the likelihood of at least 350 million barrels of oil and 1 billion barrels cubic feet of gas, with significant upside potential for discoveries from further exploration. During 2012, the Company plans to complete the seismic programme and to commence drilling on a number of key targets that have already identified. The Company is already negotiating contracts to bring in two rigs to operate on its areas Dahava has mandated Valores SA to raise up to$100mand obtain a listing for the Company's shares on the Paraguay Stock Exchange.See www.valores.com.py Dahava has also retained Strand Hanson Limited, aLondonbased investment bank, (seewww.strandhanson.com) toadvise the Company and raise up to $200mand introduce the company to the London Stock Exchange's AIM market subsequent to the quote inParaguayand thus provide a mechanism to bring international investors in to accelerate the development. The Chairman of Dahava Petroleos SAECA, Joseph Goldstein, said, "We are delighted to be investing in the future of oil and gas inParaguay. Thelisting of the shares on the domestic market and on overseas markets will provide the opportunity for investors inParaguayto share in the potential. We look forward contributing to the development of the oil and gas sector inParaguay. Dahava is grateful for the support received from the Government ofParaguay

led byPresident Franco andhis cabinet. The pro business attitude will allow Dahava to proceed at an accelerated phase into production". For further information: Joseph Goldstein Chairman Dahava Petroleos SAECA Phone: [phone]

Francisco Sanchez Rodas Controller Dahava Petroleos SAECA Phone: [phone] Christian Borja Teran President, Valores Casa de Bolsa SA

Stanley Canova Financia Advisoa Valores Case de Bolsa SA Phone: [phone] Rosa Elena di Martino PhD DiMartino Legal Counsellors Legal Advisor to Dahava Petroleos SAECA Phone: [phone]