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Colombia: Llanos Los Ocarros block interests realigned

Parex Resources Colombia Ltd. and Petroamerica Oil Corp., Calgary, plan to begin a long-term test of the Las Maracas oil discovery well and spud an appraisal well in the second quarter of 2012 on the 110,400-acre Los Ocarros block in Colombia’s Llanos basin.

The Las Maracas-2 sidetrack tested at rates as high as 938 b/d of 37° gravity oil in August 2011.

Through various transactions the companies expect to emerge with 50-50 participating interests in the block, subject to approval by Colombia’s ANH.


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