President Energy announced on Monday it has discovered good oil-bearing zones at its Lapacho drill in the Paraguayan Chaco and confirms strong hydrocarbon pay at its Jacaranda well.
London AIM listed President Energy PLC, has spudded what it calls the first deep exploration well in the Paraguayan part of the Chaco basin in almost 30 years.
Argentine police are investigating a second murder of a member of the Qom indigenous community in less than a week, after a 16-year old died in a Formosa hospital on Thursday after suffering for four days.
The death by beating of a 12 year old indigenous Qom child in the north of Argentina had shocked public opinion following on another incident less than a month ago when a gendarme run over an indigenous grandmother and a ten month old baby girl.
Paraguayan president Federico Franco announced on Monday that starting on 2013 the country will become an oil producing nation, after a recent discovery close to the border with Argentina.
Paraguay will begin exploring for hydrocarbons in the Chaco region, heartland of South America next 8 December, said oil consultant Mario Garnero after meeting on Tuesday with President Federico Franco.