StockMarketWire.com - Oil company President Energy said it now expected to sell down a stake in its Paraguayan assets by the end of November.

'Good progress has been made as to the satisfaction of the last remaining condition to the farm-out agreement,' the company said.

'Although later than originally envisaged, it is now expected that this condition will be satisfied by the end of October with closing of the farm-out in November.

The commencement of drilling a high-impact exploration well was slated for first half of 2022.

In Argentina, meanwhile, the company said it expected to drilling the first of three wells at the Puesto Guardian concession, Salta Province, towards the end of October.

The other two wells were projected to be drilled by the end of the year and the third to be completed in January.


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