Colombia
Onshore Colombia
Azar – Putumayo Basin
In February, 2008, the Company acquired a 20% working Interest in the Azar Block.
The Azar block fits well within the Company’s core strategy of targeting low risk appraisal wells with potential exploration upside.
The Licence Contract for the Azar block was entered into with the ANH on October 12, 2006 with an exploration period of 6 years and an exploitation period of 24 years. The Operator is Gran Tierra with 40% and the other partner is Lewis Energy with 40%.
The Palmera -1 well l was drilled and logged in 1996 by Ecopetrol with the U and T sands of the Villeta and Caballos seen as non commercial at that time. The well was re-entered in Q2 2008 and tested 50 bopd of 15° API oil from 19 feet of Kg sand at a depth of 7,860 feet. The well is expected to flow at 300 bopd when a pump is installed.
The environmental studies for both the drilling and the seismic acquisition have been contracted and are under development. The 3D programs are expected to be developed in the second and third quarters of this year and the drilling of the La Vega prospect is scheduled for the final quarter. In the Florida West Structure the preliminary preparations for the 3D seismic survey started last month. The drilling of the shot holes and data acquisition has started and is expected to be finished by end of June this year.
Project Type: Exploration
Partners:
- Gold Oil (20%)
- Gran Tierra (40%)
- Lewis Energy (40%)
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