The development stages:In production - under development/2013-03.The LLA-23 block is located in Colombia's Llanos Orientales basin and is currently operated by Canacol Energy (90%), where Petromont Colombia holds the remaining 10% working interest. From October 2012 to year-end 2014, the company drilled Águeda 1, Labrador 2, 3, 4, 5 and 6, Leono 1, 2 and 3, Pantro 1 and Tigro 1, resulting in significant discoveries in the C7, Mirador, Gachetá, and Ubaque formations. To date, the company has defined four productive fields: Labrador, Leono, Pantro, and Tigro. Canacol reported that its Pantro 2 evaluation well was also completed and various tests were being performed. Similarly, it announced a seven-well drilling program to be completed by 1Q15, which includes two exploratory wells, Maltés 1 and Pastor 1. As of March 2015, production reached 4,141b/d; output from highest to lowest came from Labrador, Tigro, Leono, and Pantro. Despite low oil prices, LLA-23's production is still profitable due to the block's high reservoir productivity and current cost structure. Regarding exploration, in February 2015 Canacol announced that it is in the process of acquiring 400 square kilometers of 3D seismic with the purpose of consolidating 12 identified leads at LLA-23. In doing so, the company plans to drill additional exploratory wells through 2015 and 2016. Nonetheless, as of March 2015, the company has announced that the immediate drilling of new wells is not projected for its LLA-23 block.