Article: Trinidad & Tobago : Pioneer Exploration Signs Memorandum of Understanding.

Byline: manish03

SYMBOL OTC:BB PIEX

Pioneer Exploration Inc. (PIEX) announces it has signed a Memorandum of Understanding to acquire 125,000 shares of Macallan Oil & Gas Inc., a private Barbados Company. Macallan's major asset is a 39% net revenue interest in an oil discovery named the South Erin Block in Trinidad & Tobago.

About the South Erin Block, Trinidad & Tobago

The South Erin Block is comprised of approximately 1,350 acres in southwest Trinidad, which is about 40 miles southwest of the Port of Spain and approximately 18 miles southwest of San Fernando. The participants in the South Erin Block oil development program are Maxim ...

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