Pemex and Block 7 Consortium sign Pre-Unitization Agreement

As a result of the agreement, both parties will immediately form a Working Group, with the objectives of maximizing operational and informational efficiencies, defining activities on each tract that optimize the collection of data in the area, and reducing any potential hazards, all to maximize the benefits for México. The Working Group will be comprised by legal and technical representatives from the member companies.

As a result of the agreement, both parties will immediately form a Working Group, with the objectives of maximizing operational and informational efficiencies, defining activities on each tract that optimize the collection of data in the area, and reducing any potential hazards, all to maximize the benefits for México. The Working Group will be comprised by legal and technical representatives from the member companies.

The PUA has previously been approved by the Ministry of Energy (SENER).

About Pemex

Pemex is the largest company in Mexico. It operates through the whole chain of value of the industry, from exploration and production -upstream- to industrial transformation, logistics and marketing –downstream.

About the Consortium

The Block 7 Consortium comprises Talos Energy (Operator, 35% interest), Sierra Oil and Gas (40%) and Premier Oil (25%).

About Talos Energy

Talos is a technically driven independent exploration and production company with operations in the United StatesGulf of Mexico and in the shallow waters off the coast of Mexico. Our focus in the United StatesGulf of Mexico is the exploration, acquisition, exploitation and development of shallow and deepwater assets near existing infrastructure. The shallow waters off the coast of Mexico provide us high impact exploration opportunities in an emerging basin. The Company's website is located at www.talosenergy.com.

About Sierra Oil & Gas

Sierra Oil and Gas is based in Mexico City, and is the leading and largest independent company in Mexico.  Sierra Oil & Gas and its international partners, have won 6 blocks in highly competitive auctions carried out by CNH in Mexico's southeast basin, by offering the highest government take in each round and a total  of six commitment wells combined. Sierra Oil & Gas philosophy is totally entrepreneurial, with an experienced team and core values such as transparency, corporate ethics, and international governance practices. Sierra Oil and Gas has established leading collaboration with academic institutions UNAM and ITAM as well with Instituto Mexicano del Petroleo (IMP) to advance research, education and training in Mexico's oil and gas sector.  Sierra Oil & Gas is backed by prestigious equity firms Riverstone, EnCap Investments and BlackRock, as well as Afores (Mexican retirement and pension funds) through local investment instruments CKD's, from Riverstone (RIVERCK15) and BlackRock (ICUA2CK14).

About Premier Oil

Premier Oil is a FTSE 250 independent exploration and production company with oil and gas interests in the UK, Vietnam, Indonesia, the Falkland Islands, Mexico and Brazil.

Press contacts

Pemex
Carmen Rocha Maguey
+ 521 55 74813994
[email protected]

Talos Energy
Sergio Maiworm
+1.713.328.3008
[email protected]

Logo - https://mma.prnewswire.com/media/747837/PemeLogo.jpg  
Logo - https://mma.prnewswire.com/media/687245/Talos_Energy_Logo.jpg
Logo - https://mma.prnewswire.com/media/747835/Sierra_Oil_Gas_Logo.jpg  
Logo - https://mma.prnewswire.com/media/747836/Premier_Oil_Logo.jpg