Parex Resources Inc

(PXT)

Parex Resources Inc (29, 754 boepd) is actively engaged in crude oil exploration, development and production in South America and the Caribbean region including Colombia and Trinidad.

The company focus on Columbia where Parex owns 2.1 million gross acres and has a historical rate of 50%.

As of December 2015, the company shows Proved+Probable+Possible in the Llanos Basin of 124 mmboe as compared to Proved reserves of 46 mmboe. 2P Life index is 7.8 years.

Parex has grown Llanos proved reserves from 1.1 mmboe in 2010 to 46 mmboe at y/e 2015.

The management team has over 25 years experience and have deep basin and operational experience with over 133 wells drilled