On 28 November 2018, New Stratus Energy Inc (NSE) reported that the exclusivity period for the letter of intent (LOI) with Vetra Energia has expired, yet negotiations continue for exploration and production assets in the Llanos and Putumayo basins. The LOI was announced on 31 May in which Stratus will acquire Vetra for a base price of USD 88.5 million and the transaction was anticipated to close by 31 July 2018. Vetra is a Spanish company that owns the following acreage: Llanos Basin exploration blocks include 100% of the LLA-5, LLA-64, LL-78, in addition to the La Punta Block on which the Santo Domingo field is located. Putumayo Basin exploration acreage includes the PUT-8 with 50% interest, while a 69.5% interest share belongs to Vetra in each of the following Suroiente Block fields â Cohembi, Pinuna-Quillacinga and Quinde. This deal will represent NSEâs entry to Colombia.
New Stratus Energy Inc, Vetra Energia SL acquisition LOI for assets in Llanos and Putumayo basins