Renaissance Oil Corp. entered into a license contract for the development of the Pontón block in Veracruz, Mexico. Pontón is approximately 12km² (2,965 acres) and now the fourth property, in Mexico, to be operated by Renaissance. Renaissance has now opened its field operations office in Villahermosa, Tabasco, which is in close proximity to the Chiapas Blocks. Preparations are actively underway for field development including numerous work overs and drilling of new wells. These operations are expected to commence in the first quarter of 2017.

The company announced the promotion of Carol Law to the position of Chief Operating Officer. Ms. Law joined Renaissance in September 2015 and has been a key contributor to evaluation of the Chiapas Blocks and other opportunities in Mexico. Ms. Law has exploration and operational experience in more than 40 countries, and has led teams to major discoveries on four continents. She most recently managed the Anadarko exploration and appraisal of the world class Prosperidad Gas discovery in the Rovuma Basin, offshore Mozambique. The company has also appointed Luis Miguel Labardini to the position of Country Manager. Mr. Labardini has been a valued advisor to the company for the past 18 months in his consulting role with Marcos y Asociados. Mr. Labardini brings extensive industry experience to Renaissance having held several high profile positions including Senior Advisor to the CFO of PEMEX, Deputy Director for Trade Financing at the Mexican Ministry of Finance and the Deputy Director for Foreign Investment at the Mexican Ministry of Finance.