Pan Andean ponders two offers

THE board of Irish oil and gas exploration company, Pan Andean Resources, is considering two separate expressions of interest concerning its assets in South America.

The Dublin-headquartered company — which has its shares listed on London’s Alternative Investment Market (AIM) — has interests in the US (Gulf of Mexico) and along the western coast of South America in Peru, Colombia and Bolivia; with additional projects under examination in Nigeria, Ghana and Iran.

While there had been speculation that a bid for the entire business could be forthcoming, it is understood that one expression of interest has been lodged in relation to the company’s Peruvian assets (Pan Andean is the sixth largest licence holder in the country), while the other could be targeted at both Peru and Colombia.