On March 26, 2009 separate legislation was introduced into the Canadian parliament to establish free trade agreements with both Columbia and Peru. When this legislation is passed by parliament and signed into law by the Governor General it appears that it will be of benefit to companies such as Petrolifera operating in these countries as oil is one of the imports that Canada gets from both Peru and Columbia among other things. With the reduction in tariffs I assume that these two seperate agreements will remove tariffs from oil exploration equipment shipped from Canada into Columbia and Peru by Petrolifera (this assumes that such equipment is imported into both of these countries by Petrolifera and not rented or leased locally) as well as tariffs being removed from oil being exported to Canada from both countries. If this is true then Petrolifera's focus on exploring in both of these countries at present and getting out of Argentina appear to be a good move by Petrolifera's management which in turn will benefit all of Petrolifera's shareholders.

http://www.international.gc.ca/trade...

Best Wishes; Scott