The development stages:Exploration drilling/2007-11.The shallow water block RC5 was awarded in 2007 and is operated by the Equión Energy JV, formed by Colombian NOC Ecopetrol and Canada's Talisman Energy. In November 2012, Equión reported dry gas findings at its Mapalé-1 exploratory well. With exploratory drilling complete, Equion Energia planned to enter the technical evaluation phase, which will take into account the well's results and previously acquired seismic data in the area in order to determine the potential of the gas discovery. Equión was created in 2011 to hold the Colombian assets of BP, which Ecopetrol and Talisman acquired in a deal worth US$1.89bn. Equión operates the block with a 40.56% stake. Ecopetrol holds a 32% interest and the remaining 27.44% belongs to Brazil's Petrobras. An extension to the exploratory period was requested in December 2013, with the hopes of materializing commercial success through another well.