Colombia: Maurel Prom signs new exploration contract for the Llanos area

Maurel Prom, through its wholly owned subsidiary Hocol, have signed with the National Hydrocarbon Agency of Colombia (ANH) a new Exploration and Production Contract (Clarinero) in the Eastern Llanos region, approximately 400km east of Bogota. The Clarinero contract covers an area of 2,298 km squared and is operated on 100% basis by HOCOL S.A. with royalties estimated at 8%.

The Clarinero contract strongly reinforces Hocols position in this region of Colombia, where the company already operates, also on a 100% basis, five other EP contracts (Lince, Saltarín, Cocli, Guarrojo and Sabanero) in the proximity of Clarinero. In one of these contracts (Guarrojo, 100%),

Maurel Prom has announced recently the success in the confirmation of the Ocelote discovery, currently producing with the last well Ocelote-4, 3,100 bopd under long term tests. Hocol is currently producing 14,850 bopd (entitlement), which is 22% above a production of 12,237 bopd in 2007. In the Clarinero contract Maurel Prom is committed to acquire 250 km of 2D seismic, 185 km squared of 3D seismic and drill two exploration wells over the next 22 months.

Publication: Euclid Infotech - Utilities News
Provider: Euclid Infotech
Date: June 13, 2008

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