Claren Energy Corp. provide a corporate update. Currently, the Company is pursuing the acquisition of regional near-term producing assets in Romania.

Following the completion of Claren’s Phase I Work Program on the Bobocu gas field onshore Romania, the Company has updated its reservoir model of the Corcova, Blueray and Boomer prospects with respect to the sand quality, structure and gas saturation modelling specific to these prospects.

Claren in conjunction with its partner Zeta Petroleum will be engaging a 3rd party reservoir engineering firm in order to continue to further de-risk these three key prospects. Upon completion, and all subject to approval by the National Agency for Mineral Resources (NAMR), the Company will subsequently propose its 2018 work program.

“The further dynamic reservoir engineering work will largely de-risk the drilling of future wells at any of the selected prospects at Bobocu,” stated Henry Aldorf, Claren’s Chairman and CEO.

Claren also continues to engage potential partners to share the financial and technical risk on PEL 112 and PEL 444 in the Cooper Eromanga Basin, in South Australia.