Parex Resources Announces Enhanced Strategic Partnership with Ecopetrol and Provides Operational Update

CALGARY, Alberta, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) and its strategic partner Ecopetrol S.A. (“Ecopetrol”), are pleased to announce that they have executed agreements whereby Parex will earn a 50% working interest (“W.I.”) in four blocks located in the Putumayo Basin of Colombia (“Putumayo Blocks”) as well as the Farallones Block in the Llanos Foothills of Colombia (“Farallones Block”). Additionally, the Company provides an operational update and reports that it is abandoning the Arantes exploration well at LLA-122 (50% W.I.). All amounts herein are in United States Dollars (“USD”) unless otherwise stated.

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