Parex Resources Inc. (Parex) is engaged in oil and natural gas exploration, development and production in South America and the Caribbean region. It has a portfolio of prospects in the prolific Llanos Basin of Colombia and onshore Trinidad and Tobago. Parex holds interests in 10 onshore exploration blocks. It holds a 100% working interest in the exploration blocks in the Llanos Basin of Colombia: Block LLA-16, Block LLA-20, Block LLA-29 and Block LLA-30. Parex, through a wholly owned subsidiary, has entered into a purchase and sale agreement with a Bermuda-based subsidiary (the Seller) of Nabors Industries Ltd., to acquire its wholly owned subsidiary (Targetco) (the Acquisition), the operations of which include interests in five exploration blocks located in Llanos Basin and two blocks located in Middle Magdalena Basin in Colombia for a total of approximately 567,000 gross acres (276,000 net acres). The Acquisition closed on April 12, 2012, with an effective date of February 29, 2012.
|Headquarters||1900, Livingston Place, West Tower|
250 Second Street S.W.
CALGARY, AB, Canada T2P 0C1
|Independent Chairman of the Board||Norman McIntyre|
|President, Chief Executive Officer, Director||Wayne Foo|
|Chief Financial Officer||Kenneth Pinsky|
|Chief Operating Officer||Barry Larson|
|Executive Vice President - Exploration & Business Development||David Taylor|
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|Shares Out.||108.4M||Book Value||$4.38|
|Annual Dividend Rate||$0.00||Price/Sales (TTM)||0.9|
|Ex-Div Date||1/1/01||P/Cash Flow (TTM)||2.2x|
|Pay Date||1/1/01||Operating Margin||11.60%|
*GAAP = prior to non-GAAP analyst adjusted earnings.