Repsol YPF signsfarm-in agreement with Vinccler Oil and Gas on the Cardon IV Block in the Gulf of Venezuela

Repsol YPF SA (REP) on Wednesday said that it has signed a farm-in agreement with Vinccler Oil and Gas, a wholly-owned subsidiary of PetroFalcon Corp. (PFC.TO) on the Cardon IV Block in the Gulf of Venezuela. Repsol and Vinccler recently signed a letter of intent whereby Vinccler will acquire a 25% working interest from Repsol in the offshore natural gas license for the Cardon IV Block. Under the deal, Repsol will keep a 25% interest.