Pacific Stratus to acquire Gran Colombia Oil and Gas A.V.V.

Emerging Markets Economy, Apr 25, 2004

Pacific Stratus Ventures Ltd. announced that it has agreed to acquire all of the issued and outstanding shares of Gran Colombia Oil and Gas A.V.V. from its two shareholders, Juan Manuel Pelaez and Miguel de la Campa.

Gran Colombia is in the process of applying for oil and gas exploration permits or licenses in Colombia for the Guepaje Sur, Lagunillas, La Miel, Anguila and Fortaleza blocks.

The blocks are located in Colombia in the Valle Inferior del Magdalena and the Valle Medio del Magdalena regions and offshore in the Colombian Caribbean seaboard in the Golfo de Morrosquillo and San Bernardo Basin.