Frontera Energy Corp. has signed a farm in agreement with CGX Resources Inc. for two shallow-water blocks offshore Guyana. Subject to governmental approval, Frontera will acquire a 33.33% interest in the Corentyne (1.125 million net acres) and Demerara (750,000 net acres) blocks in exchange for a $33.3-million signing bonus. Both blocks are adjacent to ExxonMobil Corp.’s Stabroek block.

Source: News