It is a 30 year concession, or contract. The first six years are attributed to the exploration, the exploratory side of it. Then the following years are based upon the development side.
(PRWEB) August 30, 2013
At the recent FSXinterlinked Investment Conference, held at the Ritz Carlton in Fort Lauderdale, Florida, Infinity Energy Resources, Inc. President/CEO, Stanton Ross, granted an exclusive interview for the FSXinterlinked channel on InterlinkedTV.
Infinity Energy Resources Inc. is a natural resources exploration and development company with oil and gas concessions covering 1.4 million acres offshore Nicaragua in the Caribbean Sea. The Company’s concessions are located adjacent to Noble Energy’s 1.8 million-acre offshore concessions, which have been estimated by Noble to potentially contain 2.7 billion barrels of oil. Noble has announced plans to commence drilling in Nicaragua during the 3rd quarter.
During the interview, Mr. Ross stated that he started the company in December of '91 and took it public in March of '92. Infinity has a very large oil and gas concession in offshore Nicaragua and expect to start drilling around July 2014. He added that "It is a 30-year concession, or contract. The first six years are attributed to the exploration, the exploratory side of it. Then the following years are based upon the development side. It also has a five year tail on it, that we can exercise an option with the government and have 35 years"
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