Project Profile
Location: Llanos Orientales basin, Colombia
Reserves: 30 Mb
Area: 447 km²
Exploration start-up: 2015
The LLA-47 block is located in the Llanos Orientales basin and covers an area of 447 km2. The block is owned and operated by Interoil Colombia Exploration & Production, which has drilled two wells: Lince-1 and Lince-2. As per the ANH commitments, by year-end 2014 Interoil had completed shooting, processing and interpreting of 350km2 of 3D seismic. Interoil is obliged to drill eight exploration wells by October 2016. The estimated cost is US$18-20mn. Interoil Colombia is obliged to have in place a bank guarantee amounting to US$10.8mn for investment commitments in LLA-47, and it is currently in compliance with that comittment. Interoil Colombia is required to post an additional of US$10.5 million bank guarantee by the end of April 2015. From the drilling of the second well in LLA-47, the guarantee will be reduced, with the sum corresponding to the investment commitments for each well. The LLA-47 block is expected to hold well above 30Mb in recoverable reserves.
Interoil Colombia had signed the exploration block LLA 47 with the Colombian Hydrocarbon Agency (ANH) awarded in the Colombian Licensing Round 2010. 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. Interoil will do more technical work in order to optimize the position of the 3D seismic surveys. The preliminary plan is to acquire the 3D seismic during early 2012 in order to start drilling late 2012. Interoil will consider farming-out part of the licenses. Interoil was initially offered 3 blocks in the 2010 ANH license round.
Operators:
Interoil: Operator with 100% interest