Maple Energy plc, an integrated energy company with assets in Peru, has today announced an operational update in respect of its exploration programme on Block 31-E and the ethanol project.
On 24 April 2008, Maple authorised CGGVeritas to commence operations on shooting 225 kilometres of seismic on Block 31-E. This notice to proceed follows the recent receipt of the EIA approval from the Peruvian government in respect of the seismic and drilling work associated with the Block 31-E Exploration programme.
On 25 April 2008, Maple received approval of the environmental and social impact assessment (EIA) for the Ethanol Project from the Peruvian government. Receipt of this approval is an important event in the development of the overall Ethanol Project.
Rex Canon, CEO, Maple Energy, commented: 'Each of these milestones represents an important step in the implementation of our overall work programme for the Ethanol Project and the Block 31-E Exploration Programme, respectively. We are pleased with the progress on each of these projects as we seek to execute on our strategic vision for the company, while enhancing value for our shareholders.'
Maple is an integrated independent energy company, listed in London and Lima, with assets and operations in Peru engaging in numerous aspects of the energy industry, including: exploration and production of crude oil, natural gas and natural gas liquids, Refining, marketing and distribution of hydrocarbon products Gas-fired power generation and power transmission and the development of an ethanol project.
Maple's operations are conducted and revenues are generated through its wholly-owned subsidiaries and equity interest in Aguaytia Energy LLC, a joint venture in which Maple owns an approximate 17.5% effective economic interest.
Maple's exploration operations consist of being the operator and holder of 100% working interests in its crude-oil producing properties, Blocks 31-B, 31-D and 31-E. The company holds a 100% working interest in Block 31-E, containing the Santa Rosa, San Roque and Cashiboya Deep prospects and significant working interest in the Aguaytia Deep Prospect in Block 31-C.