About the Company
Headquartered in Calgary Canada, Petro Andina was organized as a private company in July 2003 to explore for, develop and produce hydrocarbons in the Southern Cone of South America. The Company has focused its activities in the Neuquén Basin of Argentina, conducting operations from its office in Buenos Aires. Since inception, Petro Andina's strategy has been to:
- Participate in low risk, multi-event exploration for and development of stratigraphic oil reserves.
- Transfer heavy oil experience and technology from the mature Western Canadian Basin to the Neuquén Basin.
Petro Andina Resources Inc. began trading on the Toronto Stock Exchange on May 23, 2007 under the symbol PAR. On the same day, the Company completed the placement of 6,700,000 common shares at $9.00 per share for net proceeds of $56.7 million, before expenses.
