BUENOS AIRES, Argentina, April 14, 2011 /PRNewswire/ -- Pampa Energia S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP) ("Pampa" or the "Company"), announces the fulfillment of the conditions precedent for the investment agreement related to the "El Mangrullo" field, celebrated between Petrolera Pampa S.A., a subsidiary of Pampa, and Petrobras Argentina S.A. ("Petrobras"), previously informed on December 9, 2010.
Let us remind the investment community that: (i) through the mentioned investment agreement, Pampa will acquire 43% of the rights to have free disposal at wellhead, commercialize and industrialize hydrocarbons from certain wells to be drilled in "El Mangrullo" field (hereinafter the "Wells") and (ii) as a consideration for said acquisition, Pampa has committed to invest up to US$ 16,000,000 on the drilling of those Wells.
For further information, contact:
Ricardo Torres - Chief Executive Officer
Mariano Batistella – Strategic Planning and Investor Relations
3302 Ortiz de Ocampo, Building #4
(C1425DSR) Ciudad Autonoma de Buenos Aires, Argentina
Phone: 5411 4809 9500
SOURCE Pampa Energia S.A.