Living in Peru : your everyday companion

RIL takes 90 pc stake in oil block in Peru

Reliance Industries has signed an agreement to take a 90 per cent stake in an oil block in Peru. Reliance bought the stake in Block 141 in the high plateau of Peru from Pan Andean Resources Plc, company CEO and president (Oil & Gas) P M S Prasad said on Wednesday. Pan Andean will hold the remaining 10 per cent stake. As part of the deal, Reliance will incur all exploration costs through commercial discovery. (The Hindu - click here to read complete article)


Duran Files Audited Financials and MD&A

George A. Brown, CEO of Duran Ventures Inc., is pleased to announce that the audited financial statements for the year ended December 31, 2007 with comparatives for 2006 have been filed on SEDAR along with the Management's Discussion and Analysis for the year ended December 31, 2007.

Highlights include:

-$3,434,430 working capital including cash of $3,361,333 at December 31, 2007
-Business Combination agreement signed with MacMillan Gold Corp. to combine 100% of Peru assets into "New" Duran subject to shareholder approval (Marketwire - click here to read complete press release)