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Amerisur to drill second Platanillo well after promising results 6/1/2012
2,340 bopd of 30.4 degree API oil with trace water 6/7/2012
Gran Tierra Energy Confirms New Oil Discovery with 2,525 BOPD 2012
Ecopetrol  Colombia's largest integrated oil & gas company, where it accounts for 60% of total production. It is one of the top 50 oil companies in the world and the fourth largest oil company in Latin America.
EXMAR FLSRU contract for 15 years with Pacific Rubiales 2012
Black Rock Oil Begins Drilling on Arce Field 2006
Colombia's ANH Signs 5 Contracts Worth US$2.6mn  2006
Colombia Solana Gas with Guariquies 2 Well   2006
Solana Resources Llanos Drilling Program Good Results 2006
Natural Gas
Colombia is self-sufficient in natural gas and recently began exporting to neighboring Venezuela. According to OGJ, Colombia had proven natural gas reserves of 4 trillion cubic feet (Tcf) in 2010. The country produced 370 billion cubic feet (Bcf) of dry natural gas in 2009, while consuming 307 Bcf. A large portion of the country's gross natural gas production is re-injected to aid in enhanced oil recovery. The bulk of Colombia's natural gas reserves are located in the Llanos basin, although the Guajira basin accounts for the majority of current production. Similar to the oil sector, natural gas production has risen substantially in the last few years, owing to greater investment at existing fields, rising domestic consumption, and new export opportunities.

Exploration and Production
Chevron is the largest natural gas producer in the country. The company operates the offshore Chuchupa field in the Guajira basin, the largest non-associated natural gas field in the country. The company also operates the nearby onshore Ballena and Riohacha fields. The two biggest natural gas fields in the country, Cupiaga and Cusiana fields in the Llanos basin, were acquired from BP by Ecopetrol and Talisman Energy in 2010. Almost all of the gas produced from these fields in re-injected. The Colombian government published a decree in March 2011 outlining a plan to increase domestic natural gas production, including production from unconventional gas fields. Policies aimed at expanding domestic natural gas consumption and exports, combined with increased demand from the power sector due to weather-related hydroelectricity shortages, have made expanding natural gas production a priority for the government.

There are some 2,000 miles of natural gas pipelines in Colombia. Empresa Colombiana de Gas (Ecogás) operates most of Colombia's natural gas pipeline network. The three main lines include the Ballena-Barrancabermeja, linking Chevron's Ballena field on the northeast coast to Barrancabermeja in central Colombia; the Barrancabermeja-Nevia-Bogota line, which integrates the Colombian capital into the transmission network, and the Mariquita-Cali line through the western Andean foothills. 

Ecopetrol  is Colombia's largest integrated oil & gas company, where it accounts for 60% of total production. It is one of the top 50 oil companies in the world and the fourth largest oil company in Latin America. The Company is also involved in exploration and production activities in Brazil, Peru and the United States Gulf Coast, and owns the main refineries in Colombia, most of the network of oil and multiple purpose pipelines in the country, petrochemical plants, and is entering into the biofuels business.
EXMAR FLSRU contract for 15 years with Pacific Rubiales 2012
During the course of the first quarter EXMAR has signed a Floating Liquefaction Regasification and Storage (FLSRU) contract for 15 years with Pacific Rubiales in Colombia. The shipbuilding agreement will be signed in the course of the second quarter. The FLRSU will be delivered in Colombia at the beginning of 2015.
Exmar wins LNG contract in Colombia
 April 8, 2012
Exmar, the Belgian firm which was the main player in the consortium initially selected to roll out Jamaica's Liquefied Natural Gas (LNG) project, has secured a contract to build and operate a similar system in the region.

Pacific Stratus Energy (PSE) Colombia has contracted Exmar to build, operate, and maintain a floating liquefaction regasification and storage unit (FLRSU) for the Colombian Caribbean coast.

According to Exmar, this will be the world's first such unit, with a storage capacity of 14,000 cubic meters of LNG.  "We are proud to assist PRE (Pacific Rubiales Energy, the parent company of PSE), in reducing the carbon footprint of Central America and the Caribbean," said Nicolas Saverys, CEO of Exmar.  "This FLRSU will be the world's first operational floating LNG production unit. The unique technology on board the unit is the result of Exmar's innovative leadership in the LNG industry during the past years," added Saverys.

Under the agreement with PSE, Exmar will supply and liquefy millions of metric tons of LNG over a 15-year period, under a tolling structure.
PSE will provide the gas via a planned, new 88-km pipeline from its producing La Creciente gas field to the Caribbean coast.

The LNG will be targeted initially at markets in Central America and the Caribbean, to replace fuel oil and diesel, currently used for power generation.
The project should also put in place incentives to explore and develop undiscovered Colombian natural gas resources.

Ronald Pantin, Chief Executive Officer of PRE commented: "We are very excited with this Agreement, as it opens new markets and fast-tracks monetisation of the PRE's extensive natural gas reserves." According to Pantin, "This leverages PRE's strategy to explore and develop its large gas resources in northern Colombia, and also reinforces our view that Colombia has enough gas resources to become a reliable LNG supplier for the region."

The Exmar Consortium was selected the preferred bidder to introduce LNG to Jamaica but that was scrapped last year after the Contractor General raised several concerns about the bidding process.
Since then, the government has reopened the bidding process but is yet to select a preferred bidder.
A Changing Colombia
Colombia is considered one of the most politically stable countries in Latin America with economic growth that is moving the country towards first world status. There is growing confidence in the economy and a climate of greater security within the country, both of which are opening the door to foreign investment and new economic ties. It is important to note that the sanctity of contracts has always been well entrenched in Colombia.

The turning point for Colombia came in 2002 when the government took a hard-line stance against pockets of narco-terrorists by pressuring the groups to lay down arms or disband. Since then, security has improved greatly and foreign investment continues to grow, particularly in the country’s petroleum industry.

Oil plays an important role in Colombia’s economy, contributing about 10 percent of the government’s revenues and nearly 30 percent of exports. Colombia has a well developed infrastructure of refineries, pipelines and export terminals. Its refineries are operating at capacity, but there are plans for significant expansion in the future. Over 6,000 kilometres of pipelines connect major producing fields, centres of high consumption and the export terminals on two coastlines, the Caribbean Sea and the Pacific Ocean. Colombia is the fourth largest oil producer in South America, however, of the country’s 18 sedimentary basins, only nine currently have commercial production. Production had fallen from a peak of 800,000 bopd in the 1990s to 526,000 in 2005. Earlier this decade, faced with the prospect of becoming a net oil importer by 2012, the government took steps to rejuvenate its oil industry with significant success. Production had increased to over 800,000 bopd in 2011.

Opening the door to foreign investment even wider in 2004, a new petroleum fiscal and land tenure regime was introduced, which has become one of the most attractive in the world. The Agencia Nacionale Hidrocarburos (ANH) was created to act as the regulatory authority to administer new exploration lands, and to encourage foreign investment.

The government also committed to a more dynamic oil industry with a move to privatize 20 percent of Ecopetrol. In 2007 the first 10 percent stake was sold on the Bogotá Stock Exchange, and in the latter part of 2008, Ecopetrol listed shares on the New York Stock Exchange providing more flexibility and autonomy for the state-owned oil company.

A growing number of international companies are pursuing hydrocarbon exploration in Colombia. More than 150 oil and gas companies are now operating in Colombia. Total foreign investment in the oil and gas industry now stands at over $3 billion in 2010, up from $1.8 billion in 2006. Production in the country has increased close to 300,000 bopd since 2005 to more than 800,000 bopd in early 2011.

Colombia has an abundance of light, sweet oil in under-explored basins. In Colombia, a large heavy oil fairway extends across southern and eastern portions of the Llanos Basin which is believed to be from the same La Luna source rock as the massive Faja del Orinoco field in Venezuela where four projects are currently producing 600,000 bopd. Colombia also has a well developed infrastructure of refineries, pipelines and export terminals.

Black Rock Oil Begins Drilling on Arce Field 2006
Black Rock Oil 6/7/2006

Black Rock Oil reports that drilling operations on the Acre 4 development well has commenced by its joint venture partner, Kappa Resources Colombia Limited. The rig arrived on site last week and the Arce 4 well has now been spudded.

Arce 4 is expected to take 15-20 days to drill, test and complete. Subsequently the drill rig will be moved to Arce 2 where the gravel pack will be replaced.

In addition, the Company confirms that the steam generator is expected on site at the Arce field by early July and that preparation is being made for the steam testing program to commence. Steam injection and production is a proven technique used in Colombia to increase oil flow by lowering the oil viscosity and is being use for production in adjacent fields. As set out in the Company's Annual Report and Accounts for the year ended 30 June 2005, the Arce field has estimated recoverable reserves in excess of 5 million barrels of which the Company has a 50% equity.

Testing is also scheduled on the Baul field within the license area in the coming months. The Baul well was previously on commercial production but shut-in in 1961 due to the then prevailing low oil price. If the well is in good condition, it will be tested with a view to potentially declaring commerciality during 2006.

Ivan Burgess, Managing Director of Black Rock Oil & Gas plc, commented:

"Our aim remains to book reserves in excess of 2.5 million barrels and to generate cashflow in the second half of 2006. We are optimistic that the Arce field will be in commercial production later this year.

"The spudding of Arce-4 represents the first stage of our development, appraisal and exploration program in 2006 and the Arce steam testing project should start to generate cash flow for the Company later this year."

Colombia Solana Gas with Guariquies 2 Well  

Solana Resources Limited 6/5/2006

Solana Resources announces the results of the Guariquies 2 well, drilled as an appraisal well to the Guariquies 1 discovery made in March 2006. The Guariquies 1 discovery tested oil at commercial rates from the Mugrosa Formation at approximately 5,000 ft.

Guariquies 2, drilled from the same surface location as Guariquies 1, was deviated 1,600 feet to the west of Guariquies 1 with the objective of penetrating a thicker gross sand section at a higher structural elevation than at the discovery well. Post drilling evaluation of Guariquies 2 confirms that the target Mugrosa reservoir section was encountered approximately 770 feet higher than at Guariquies 1 and that the gross section was more than 800 feet thicker than at the discovery.

Guariquies 2 has encountered predominantly gas in the two main sands penetrated in the well. The lower zone, from 5,953 to 5,982 feet, produced gas though a 36/64 inch choke at a stable rate of 0.70 million cubic feet per day. The upper zone, from 4,971 to 5,004 feet produced gas through a 36/64 inch choke at a stable rate of 0.74 million cubic feet per day and also produced 8 barrels of 24 degree API oil.

The Guariquies 2 well has been suspended and the drilling rig used to drill the Guariquies 1 and 2 wells has now been released. The Guariquies 1 well is expected to be put on long term test in approximately one month. Oil produced during the test is expected to be trucked to a receiving point located approximately 10 kilometers from the well location.

Activity continues to execute the previously proposed plan to continue to appraise the Guariquies discovery to the north with at least two more appraisal wells. The first of these, Guariquies 3, is expected to be located 4.6 kilometers to the north of the discovery. The environmental license for the Guariquies 3 location is in progress.

Solana participates directly in the Shared Risk Contract, with Ecopetrol and Ramshorn, and paid 37.5% of the costs and will receive 33.75% of the production of Guariquies 2 and all future Guariquies wells.

Colombia's ANH Signs 5 Contracts Worth US$2.6mn  2006
BNAmericas 6/5/2006

Colombia's hydrocarbons regulator ANH signed one E&P contract and four technical evaluation agreements (TEAs) in May that require total investment of roughly US$2.6mn, ANH said in a statement.

Canadian oil company Gran Tierra Energy (Nasdaq: GTRE) signed the E&P contract for the Llanos basin's Primavera block. Gran Tierra will explore the 146,000ha block during the next six years and invest US$2.05mn in the first phase.

ANH has now signed 15 E&P contracts this year and aims to increase the number to 30 by year-end, the statement said.  ANH signed one TEA with the UK's Texican Oil and three with local company Petroleos del Norte.  Texican's TEA is for the Cordillera de Flor Colorada block in the Middle Magdalena basin. Texican has a year to evaluate the block, with planned investment of some US$390,000.

Petroleos del Norte signed a TEA for the Tisquirama Occidental block in the same basin, which covers roughly 3,600ha. The company has eight months to evaluate the block and will invest some US$36,000.

Petroleos del Norte will also evaluate the La India and Rio Guayabito blocks, also in the Middle Magdalena. Each block spans roughly 54,000ha and the eight-month investment plans each call for US$63,000.

ANH has signed 10 TEAs this year.

Solana Resources Llanos Drilling Program Good Results 2006
Solana Resources Limited 6/5/2006

Solana Resources announces preliminary results of the three well Llanos drilling program which began in late March, 2006.  The three well drilling program has resulted in two wells capable of oil production and one well which is still drilling and which will be tested.

Bonaire 1
The Bonaire 1 well, drilled in the 70% Solana owned Guachiria Norte block, was spudded on March 31, 2006. This well was drilled to final total depth of 7,800 feet, logged and casing was run. The rig was released on April 21, 2006 and subsequent operations carried out with a workover rig. The total cost of drilling, completing and testing the well was approximately $ 3.5 MM - this compares to a pre drill estimate for a completed and tested well of $US 5.0 million.

The Bonaire well was tested over two intervals; a lower one from 7,314 to 7,326 feet which produced formation water and an upper one from 7,135 to 7,145 feet which produced oil. The latter produced 20 barrels of high quality (38 degree API) oil with essentially no water on test after swabbing. A down hole jet pump was installed in an attempt to establish a sustainable production rate. As of the time of this update, 8 barrels of oil have been produced in 13 hours. This is not typical of the sands in the area and additional studies will be undertaken to determine the reason for the low productivity and to determine if some form of stimulation might contribute to higher flow rates. Bonaire 1 is located an all season road approximately 7 kilometres north of the producing Solana Bucaro 1 well. Any oil produced at Bonaire 1 would be expected to be trucked to Bucaro for processing.

Solana employed the Schlumberger Ecoscope(TM) Logging-While-Drilling system in the Bonaire 1 well. According to Schlumberger this was the first deployment of this new technology in Colombia. Its use allowed Solana to drill the well cost effectively and to obtain better down hole information than possible with previously existing technology. Solana has also used this technology in the two wells described below.

Yalea 1
The Yalea 1 well, drilled in the 60% Solana owned Guachiria block, was spudded on April 28, 2006 with the same rig which drilled the Bonaire 1 well discussed above. The well reached final total depth of 7,500 feet in 15 days and was completed as an oil producer. The total cost to drill, complete and test this well is estimated at $US 3.4 million, compared to a pre-drill estimate of $US 5.2 million.
The Yalea 1 well was tested with a workover rig from May 27 to June 4, 2006. The Carbonera C4 sands were tested over the interval 6,739 - 6,749 feet and produced high quality (34 degree API) oil. Swabbing of this interval recovered 144 barrels of oil over a 10 hour period. The well is currently being completed with a jet pump to initiate commercial production.
The Yalea 1 well is located 1.7 kilometers south of the producing Bucaro 1 well described above and expected oil from Yalea 1 will initially be trucked to the facilities at Bucaro 1.

Gaviotas 1
The Gaviotas 1 well, drilled on the 50% Solana owned Gaviotas block was spudded on April 21, 2006 and is currently at a final total depth of 12,802 feet. The well reached the original program total depth of 12,000 feet on May 17 after 27 days of drilling. An analysis of log and drilling data at that time indicated that the primary reservoir target in the well, the Mirador sands, contained oil shows sufficient to warrant testing. Consequently casing was run to protect these sands. In view of the fact that the Mirador and underlying Barco formations had been encountered approximately 70 feet higher than expected it was decided to deepen the well to test other prospective formations; including the Gacheta which is productive in oil fields near Gaviotas 1.

The cost to drill and complete the well to the programmed total depth of 12,000 feet was $US 4.2 million. This compares to a pre-drilling cost estimate of $US 5.9 million. The final well cost, including the cost to deepen the well beyond its original target depth, is expected to be approximately $US 5.0 million.

Solana operates all of the blocks discussed above and paid 40% of the cost of the Bonaire well, 35% of the cost of the Yalea well and 0% of the cost of the Gaviotas well with the remainder of the costs being borne by various farminees. The Guachiria block which contains the Yalea 1 well and the Gaviotas block which holds the Gaviotas 1 well are held under modified Association Contract terms by which Ecopetrol, the Colombian state oil company, agreed to surrender its 30% back in right in exchange for a 13% royalty in addition to the normal 8% state royalty. The Guachiria Norte block, containing the Bonaire 1 well is held, under terms of the new ANH contracts which were introduced in 2004.

The Gaviotas 1 well was drilled with a rig operated by a Colombian contractor, Pexin. Solana has previously announced a two year agreement with Pexin which confers on Solana a first right to use this drilling rig at market rates and with Solana holding the right to mobilize the rig at cost.

The wells described above fulfill the current commitments for Solana on the Guachiria, Guachiria Norte, and Gaviotas blocks in the Llanos basin. Depending upon the results of the production obtained from the Yalea and Bonaire wells and the planned testing of the Gaviotas well additional development wells may be required on some or all of these discoveries. Solana has completed extensive 2D seismic surveys on all of these areas within the past six months and the location of any required follow up wells will based on that seismic data.

Gran Tierra Energy Confirms New Oil Discovery with 2,525 BOPD 2012
Production Test at Ramiriqui-1, Colombia
April 12, 2012
CALGARY, Alberta, April 11, 2012, Gran Tierra Energy Inc. (“Gran Tierra Energy”) (NYSE Amex: GTE, TSX: GTE), a company focused on oil exploration and production in South America, today provided updates for its operations in Colombia.
Llanos-22 Block, Llanos Basin (CEPSA 55% WI and Operator, Gran Tierra Energy 45% WI subject to Agencia Nacional de Hidrocarburos approval)

The Ramiriqui-1 oil exploration well in the Llanos-22 block, located in the Andean foothills trend of the Llanos Basin, has reached total depth at 19,519 feet measured depth (“MD”) in basement. Gran Tierra Energy, along with its operating partner Compania Espanola de Petroleos, S.A.U. (“CEPSA”), has completed initial testing on Ramiriqui-1 by collecting reservoir data and fluid samples from the Mirador formation. The Mirador formation has 130 feet gross thickness and was perforated and tested from 17,610 feet to 17,630 feet MD in the uppermost primary reservoir interval. The interval had natural flow rates, without pumps, of up to 2,525 barrels of oil per day (“BOPD”) gross over 32.5 hours with a 28/64 inch choke and a 0.12% watercut with 26°API gravity oil. The Ramiriqui-1 well flowed at a restricted rate due to gas flaring limitations.
The partners are currently evaluating options for testing additional reservoir intervals, drilling of an appraisal well, and implementation of an early production program.
“We are extremely pleased with the early success of Gran Tierra Energy’s 2012 exploration drilling program, building on our growing reserves and production base in the Llanos Basin.” said Dana Coffield, President and Chief Executive Officer of Gran Tierra Energy. “This is the first of four exploration wells planned for this year in Colombia, with two in the Llanos Basin and two in the Putumayo Basin.  In addition, one exploration well in Peru, two exploration wells in Brazil and three exploration wells in Argentina are planned through the balance of the year.”
Azar Block, Putumayo Basin (Gran Tierra Energy 40% WI and Operator, Lewis Energy Colombia Inc. 40% WI, Gold Oil 20% WI subject to Agencia Nacional de Hidrocarburos approval)
Civil construction has commenced for the La Vega Este-1 oil exploration well. The drilling rig is expected to mobilize from the Costayaco-15 well site to the La Vega Este-1 wellsite and is expected to begin drilling in late April, 2012. The La Vega Este-1 well is targeting the same Cretaceous Sandstone intervals present in the Costayaco and Moqueta discoveries.
About Gran Tierra Energy Inc.
Gran Tierra Energy is an international oil and gas exploration and production company, headquartered in Calgary, Canada, incorporated in the United States, trading on the NYSE Amex Exchange (GTE) and the Toronto Stock Exchange (GTE), and operating in South America. Gran Tierra Energy holds interests in producing and prospective properties in Colombia, Argentina, Peru, and Brazil. Gran Tierra Energy has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a base for future growth.

Amerisur to drill second Platanillo well after promising results
HOUSTON -- Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, announced an update on the well Platanillo-3 in the Platanillo Field, Colombia, the first of a planned six well drilling campaign.  The well has successfully reached total depth at 8,250 feet and has been logged, cased and cemented.  Drill Stem Testing equipment has been mobilized and is being rigged up to perform production tests. The surface equipment on location has also been constructed and commissioned.
The reservoir sections encountered in the well are currently being studied to determine which zones will be tested. Encouragingly, the Lower "U" formation was encountered 33 feet higher than the next highest well in the field, in line with the 3D  seismic model, indicating the potential for an increased oil column.  The Company expects to perform flow tests within the next week, and will announce results once they have been analyzed.
Given the promising indications from Platanillo-3 the Company plans to skid the Serinco Rig D-10 and drill the second well of the current program from the same location (Platform 9), deviating the well to an offset of approximately 2,297 feet (700 meters) from Platanillo-3.

Amerisur Encounters Net Pay at Platanillo Well 2,340 bopd of 30.4 degree API oil with trace water
by  Amerisur Resources plc|Press Release|Wednesday, June 06, 2012   
 Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, announced an update on the well Platanillo-3 in the Platanillo Field, Colombia, the first of a planned six well drilling campaign.  After analysis of the electric logs the Company has estimated that the Platanillo-3 well encountered an interval of 85 feet gross, 52 feet net pay in the U sands of the Villeta formation. Two additional zones within the Villeta may also contain potential pay and are under evaluation.  The Company perforated the upper 26 feet of indicated net pay using a Drill Stem Testing assembly. Over a flow period of 24 hours the interval produced in natural flow at a final stabilized rate of approximately 2,340 bopd of 30.4 degree API oil with trace water, while choked back and with wellhead pressure of approximately 44 psi.

The well has now been closed in to perform a pressure build up (PBU) test, in order to acquire pertinent reservoir pressure information. Once the PBU is completed the Company plans to install a permanent completion string and commence commercial production from the well. Given the high productivity of the well, Amerisur is evaluating completion options to maximize efficiency, including the installation of a downhole electrical pumping system.

With these excellent results from Platanillo-3 the Company plans to skid the Serinco Rig D-10 and drill the second well of the current program from the same location (Platform 9), deviating the well to an offset of approximately 600m south of Platanillo-3.

"This is an impressive result which underlines the potential of the Platanillo field. Our objective now is to push forward with the next wells, optimizing their costs and operational efficiency to deliver our production targets this year," Amerisur Chief Executive John Wardle commented.

"I would like to congratulate our CEO John Wardle and all staff and contractors who have been working under extremely arduous conditions. The geological analysis performed by Dr Wardle and his colleagues has been fully vindicated. The Board looks forward to more exciting developments of this field," Chairman of Amerisur Giles Clarke said.