PetroCumarebo

PFC Oil and Gas owns 40% of PetroCumarebo, S.A., a joint venture with PDVSA. PetroCumarebo holds all the operating rights to the East Falcon Block and the West Falcon Block (838,000 acres) in northwestern Venezuela and has current onshore production of oil and natural gas. The Falcon area is strategically located in close proximity to the Paraguana Refinery Complex, the largest refinery in the world.

Baripetrol

PFC Oil and Gas also owns a 5% interest in Baripetrol, S.A., a joint venture between PDVSA, Tecpetrol and Perenco. Baripetrol operates the Colon Block (297,000 acres) in western Venezuela and has current onshore production of oil and natural gas.