BNET Industries

Petrofalcon Corp.

is in the Business Services Industry

Last Fiscal Year Sales:$12.6M
  • Private
  • CA
Dow Jones Description

PetroFalcon is a publicly-traded natural resource company (Toronto Stock Exchange ticker symbol "PFC") with oil and gas operations in Venezuela through its wholly-owned subsidiary, Vinccler Oil and Gas. Vinccler Oil and Gas owns a 40% interest in PetroCumarebo, a joint venture with Petroleos de Venezuela, S.A. (PDVSA), the Venezuelan state-owned oil and gas company. PetroCumarebo holds all the operating rights to the East Falcon Block and the West Falcon Block (a total of over 800,000 acres) in northwestern Venezuela. The Falcon area is strategically located in close proximity to the Paraguana Refinery Complex, the largest refinery in the world. Vinccler Oil and Gas is also acquiring a 30% interest (subject to government approval) in the offshore natural gas license for the Cardon III Block in the Gulf of Venezuela. Vinccler Oil and Gas is partners with Chevron Corporation, which operates the block and owns the remaining 70% of the license. Cardon III covers an area of over 200,000 acres and is located in relatively shallow waters 38 kilometers northwest of the Paraguana Refinery Complex. Vinccler and Chevron mobilized a 3-D seismic vessel in February 2007, and data acquisition on Cardon III was completed two months later. A drilling decision is expected in late 2007. If successful, the first commercial production of natural gas from Cardon III is expected in 2011. PetroFalcon's management team, which owns almost 30% of the company, has a decade-long track record of...

Number of Employees 50
Contact Information

3700 Canterra Tower

Calgary, Alberta T2P 4H2

www.petrofalcon...

(416) 203-4460

NAICS Code Remediation Services: 562910

Recent Events

  • PetroFalcon closes acquisition of Solar Resources

    9/14/09 - Merger / Acquisition - View Story

  • Petro-Falcon to acquire Etrion for 2.3 million euros

    8/11/09 - Merger / Acquisition - View Story

News & Analysis

petrofalcon corp. - All News and Analysis

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