An item reported that the Lobitos Oilfields Ltd at London , founded in March 1903 with a capital of 400,000 pound sterling. She possessed the territories of the former Perewian Petroleum Syndicate and the Punta Restin Oilfields, all located in the province Piura , Peruvian north coast. The company owned 3 tankers and some smaller vessels with a capacity of 23,500 tons. The Koninklijke Shell was at that moment negotiating with the company to buy her petroleum fields.