|By PR Newswire||
|January 23, 2013 07:13 AM EST|
ASUNCION, Paraguay, January 23, 2013 /PRNewswire/ --
Dahava Petroleos SAECA ("Dahava") is pleased to announce that it has answered and filed all of the items requested by the Commission Nacional de Valores ("CNV", the Paraguayan Securities Commission). Once the CNV approval is received, Dahava will then file the prospectus for the listing of its shares on the Bolsa de Valores de Asuncion (the, "BVPASA", the Asuncion Stock Exchange). Dahava submitted its documents, which fully addressed all of the comments of the CNV, together with supporting reports from its lawyers and accountants, on Friday 11th January 2013.
Dahava is receiving considerable interest in its proposed flotation from both Paraguayan domestic and international investors. International interest in Paraguay is developing strongly at present, as exemplified by Paraguay gaining a MOODY'S rating of Ba3, and the recent successful issue of a $500 million bond issue. The introduction by Dahava, of foreign investors on the BVPASA will be another confirmation of the international confidence in the Paraguayan business opportunities
The broker for the listing on the BVPASA is Valores, Casa de Bolsa SA, part of the Credit Andorra Group. Its auditors are the international auditing firm, PKF.
Dahava plans to use the proceeds from its planned flotation to develop the Company's plans and in particular to carry out a full drilling program focusing on known and existing oil and gas areas in its concession areas in the Chaco Basin of northern Paraguay with a view to making Paraguay and oil and gas producer for the first time in its history and to achieving energy independence and becoming a significant regional producer.
Dahava Petroleos Chairman, Joseph Goldstein said, "The receipt of CNV approval will allow us to proceed without any further delay for the 2013 work program. We are ready to commence our drilling program at a moment's notice at the confirmation of the CNV approval.
"I want to express my gratitude to our staff and our professional advisors in Paraguay who have done a superb job to produce the required documents".
DAHAVA PETROLEOS SAECA - see http://www.dahavapetroleos.com is a growth-oriented E&P company engaged in the acquisition, development and exploration of oil and natural gas properties and strategic petroleum concession areas. The Company is already one of the largest oil and natural gas E&P companies in Paraguay, measured by acreage of its exploration blocks totaling approximately 14.6 million acres. Dahava plans to commence drilling of its properties in the Chaco Basin of Northern Paraguay in early 2013 as soon as the weather permits and to grow production and reserves through development and exploration activities on its existing properties and through acquisitions that meet its long-term objectives for production.
VALORES SA, - see http://www.valores.com.py is one of Paraguay's leading brokerage houses. It is part of the Credit Andorra Group, Andorra's leading financial institution.
Francisco Sánchez. President
Jacopo Sertolli. Intl, CEO
Ari Thaler. US and Israel Investor Relations