The company’s subsidiary, PVD Exploration Morocco is a party to a farm-in and joint operating agreement with Freeport-McMoRan Oil & Gas subsidiary PXP Morocco.
PXP has a 52% operated interest in Mazagan. The first of two commitment wells was drilled last year. Pura Vida has written to PXP reserving its rights in relation to the second well obligation.
The two parties are in discussions on how to progress or resolve this matter.
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