Interoil encouraged by well result in Block LLA-47, Llanos basin

Interoil reopened the Vikingo well in onshore block LLA-47, Llanos basin, after temporary shut in May 19 due to COVID-19 concerns. Since July 20, Vikingo has reached stable flow of 250 bo/d, representing a 25% increase prior to shut in and indicating potentially higher drainage area than initially anticipated. The increase has reinforced Interoil’s positive outlook on the block’s potential.

In relation with Vikingo's declaration of Commercial Discovery, Interoil will submit two documents before regulatory authorities; a Development Program (DP) to be filed with the Colombian National Hydrocarbons Agency (ANH) and an Environmental Impact Study (EIA) to be filed with the Colombian National Environmental Agency (ANLA). Approval is mandatory for granting the Vikingo discovery Exploitation Concession, and Interoil expects approval in the coming weeks.

LLA-47 exploration block covers an area of 447 sq km where Interoil acquired 350 sq km of 3D seismic and has identified several hydrocarbon prospects. Vikingo is the first exploration well drilled in the block. The company has combined Phases 1 and 2 under the license agreement and has committed to drill 10 wells before Feb. 10, 2021.