Project Profile
Location: San Miguel and Valle de Guamuez, Caguán-Putumayo basin, Colombia
Reserves: 1.9 MMbbls of 2P reserves
Area: 130,000 acres
Start-up Year: -
The onshore block PUT-7 is located in Colombia\'s Caguán-Putumayo basin, in the municipalities of San Miguel and Valle de Guamuez.
It was operated by Canadian junior company Suroco Energy (50%) in partnership with local firm PetroGranada Colombia (PGC). The block was originally awarded to Petro Caribbean Resources in the 2010 Colombian Round, launched by the country\'s national hydrocarbons agency (ANH). This company ceded its rights to the block to the current owners in 2014.
The block had estimated oil reserves of 7.9Mb crude. Planned works for the area include a 3D seismic survey by late-2014 and the drilling of two exploratory wells by late-2015. based on a 2014 NI 51-101 independent report prepared by GLJ Petroleum Consultants Ltd., there are 1.9 MMbbls of Proved plus Probable reserves. In addition, there are multiple seismically identified drill ready exploration prospects on the PUT-7 Block, including the emerging N Sands play. There are commitments to drill two exploration wells on the PUT-7 Block during 2016, after which there will remain a commitment to perform approximately 167 square kilometres of 3D seismic. In 2016, Gran Tierra Energy entered into an agreement with PetroGranada Limited to acquire all of the issued and outstanding shares of PetroGranada Colombia Limited (PGC). Subject to approval by the Agencía Nacíonal de Hidrocarburos of Colombia (ANH), PGC holds a full 50% undivided working interest in the exploration and production contract for the block. As a result of its previous acquisition of Petroamerica Oil Corp., the Company already holds the rights to the other 50% undivided working interest of the PUT-7 Block, which is subject to ANH approval. Upon receiving ANH approval with respect to both interests, the Company will hold a 100% undivided working interest and be the operator of the PUT-7 Block.
Operators:
Gran Tierra Energy Inc.: Operator with 100% interest
Contractors:
GLJ Petroleum Consultants Ltd.: Preparation of a NI 51-101 independent report