The development stages:Exploration drilling/2014-10,In production - under development/2014-02.The onshore PUT 1 block covers 2.354ha and is located in Colombia's Putumayo-Caguán. The block, classified as a non-developed discovery, is part of the 2014 Colombian Round for production and exploration licenses, promoted by local hydrocarbons agency ANH and the mines and energy ministry (Minminas). The contract includes an initial, 12-month stage comprising reprocessing of the existing seismic data and a petrophysical reevaluation. A second, 24-month stage involves the drilling of an appraisal well. The contract will last three years for exploratory activities and 24 years once production has started, and is extendable for another 10 years.