Ecopetrol mobilizes rig to Colombia's Putumayo basin

Colombia's state-owned Ecopetrol SA has authorized mobilization of the Pride-17 drilling rig to the Platanillo block in Colombia's Putumayo basin, reported partner Amerisur Resources PLC.

Aug 23rd, 2007

Eric Watkins
Senior Correspondent

LOS ANGELES, Aug. 23 -- Colombia's state-owned Ecopetrol SA has authorized mobilization of the Pride-17 drilling rig to the Platanillo block in Colombia's Putumayo basin, reported partner Amerisur Resources PLC.

Platanillo is an "advanced project with near-term production potential," said Amerisur chief executive officer John Wardle. The firm said rig mobilization will take about 3 weeks and that it expects the well to spud in early to mid-September, followed by testing and results in October.

The rig will drill a second well, Platanillo-2, immediately following the drilling of Platanillo-1, Amerisur said. The location of Platanillo-2 will depend on results obtained in Platanillo-1. Subject to the possibility of additional civil works, it is expected that Platanillo-2 will be spudded in October.

The firm said negotiations are continuing regarding the acquisition of an increased working interest in the Platanillo contract. The current stakeholders are operator Ecopetrol 40%, Repsol YPF SA 35%, and Amerisur 25%.

Contact Eric Watkins at hippalus@yahoo.com.

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