Project Profile
Value: undisclosed
Location: Llanos basin, Colombia
Area: 173 sq miles (447 sq km)
Reserves: unknown
The LLA-47 is located in the prolific Llanos basin and covers an area of 173 square miles (447 square kilometer). Interoil has owned a 100% of the working interest on the block and is the current operator. The company has agreed to undertake a US$30 million work program commitment in the three years of Phase 1 of the E&P contract with the ANH. This transaction is subject to approval by the ANH. In addition, the company shall pay a US$2 million signing fee upon receipt of ANH approval. Two wells were drilled in the Southernmost part of the LLA-47 block testing a structural closure at the C7 level. The Lince-2 well was a re-drill of Lince-1 and tested some 90 BOPD after experiencing technical difficulties. InterOil is committed to acquire 350 km² of 3D seismic and to drill 8 exploration wells before September 2014.
Operators:
Interoil Colombia: Operator with 50% interest
PetroMagdalena Energy Corp: 50% interest