Project Profile
Value: US$1.1 million
Location: Colombia
Area: 110 square kilometres
The Block 36 (LLA36) is located in the Llanos Basin in East-Central Colombia and is one of the country’s most prospective basins. The joint venture partners have commenced the acquisition of a 110 square kilometer 3D seismic survey on January 8, 2011, over a structure previously defined by 2D seismic on Block 36 in the Llanos Basin. The survey is expected to be completed in April 2011. Brownstone has a 20% paying interest in Block 36, which is operated by Montecz S.A., and is earning a 14% working interest.
Operators:
Montecz S.A.: Operator
Quetzal Energy: is earning a 14% interest by paying 20% of the work program until payout. The company will be entitled to 18.2% of any net revenue realised on the block until they have fully recouped funds spent on fulfilling the work program until payout, following which, the company will assume its post earning private participating interest of 14%.