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updated Sat. October 22, 2016 reload page to refresh

The ban was upheld by France's highest court in 2012 following a challenge filed by Schuepbach Energy after the company's exploration permits were revoked when the ban went into effect, according to the New York Times.

Sydney-based Petrel Energy and its 51%-owned partner-operator, Dallas-based Schuepbach Energy International, said its Salto and Piedra Sola concessions could contain as much as 87.8 billion cubic metres of gas and 910 million barrels of oil.
Petrel Energy is a 51% shareholder of Schuepbach Energy International, whose subsidiary in Uruguay has been contracted to drill four exploratory wells between this year and 2017.
Recent publication of the first independent resources report by NSAI on the Uruguay concessions underpins the work undertaken to date, with net P50 unrisked prospective resources of 388mmbbl.
12 that Schuepbach Energy International, in which it owns a 51 percent stake, received independent certification of a so-called unrisked gross prospective resource of as many as 1.77 billion barrels at two onshore blocks.
Petrel operates the licenses with its 51%-owned subsidiary, Schuepbach Energy International. The certification was based on analysis of a 597km 2D seismic acquisition campaign across the concessions, which cover 14,000km2.





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