The development stages:Exploration drilling/2009-02.The onshore block PUT-2 covers an area of 39,119ha in Colombia's Caguán-Putumayo basin. The project was previously operated by Canadian oil firm Petronova with a 75% share, while the remaining was held by fellow Canadian Suroco Energy. As of June 2015, Petroamerica Oil Corp. acquired both companies and now holds full ownership of the block. Resources in the block were certified and 110 square kilometers of 3D seismic were acquired in 2011. The first exploration well, Canelo Sur-2, was drilled in 2013, but results were delayed due to social opposition and difficulties during drilling. Works resumed in March 2014 but the company ended up abandoning the well after inconclusive results from testing the lower "U" sand of the Villeta formation. In 1Q15, Petronova completed a surface and communities survey of the unexplored central and southwestern areas of the block. Also, reprocessing of the 2D and 3D seismic was completed and results should determine the next exploration activities for this block. PUT-2 is currently under phase two of its exploration program, which requires the drilling of two exploratory wells prior to July 2017.