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Pacific Rubiales Adds 1% As Announces Joint Venture in Peru with Maurel & Prom

Pacific Rubiales Corp. (PER.TO) added more than 1% to its share price in early Wednesday trade after announcing that it has signed a letter of intent with Les Etablissements Maurel & Prom S.A. pursuant to which the company has acquired a 50% working interest in the exploration contract for Block 116 located in northeastern Peru.

Ronald Pantin, Chief Executive Officer, reportedly said "This joint venture is yet another crucial step in the strategic alliance with M&P which was initiated earlier this year by the acquisition of a 49.999% interest in M&P Colombia."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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