Calgary-based and TSX-listed Stetson Oil & Gas has terminated the farm-out agreement with Sagres Energy on LLA11, a 126,494-acre block in Colombia's Llanos Basin of Columbia. Stetson acquired the block in June 2010 through a bidding round organized by the National Hydrocarbons Agency (ANH). Stetson farmed out 90% interest in the block to a subsidiary of Sagres in exchange for retaining 10% carried interest during the exploration phase, which consisted of a minimum $9.0......
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