......In light of its recent exploration successes on its LLA-23 and Middle Magdelena blocks, the Corporation plans to accelerate its exploration and development drilling program on the LLA-23 block. Aside from the programed Tigro and Pointer exploration wells, the Corporation plans to drill a third exploration well, Maltes-1, prior to the end of calendar 2014. In addition to its planned Labrador-4 and Leono-2 appraisal wells, the Corporation plans to also expand the program to drill up to six additional development wells at Leono, Pantro, and Tigro. The Corporation also plans to accelerate its water handling and power generation facilities on the LLA-23 block to more effectively manage operating costs. In other projects, the Corporation plans to accelerate it exploration and development drilling program on the Santa Isabel block (the Morsa-1 exploration well and the Oso Pardo-2 appraisal well), and expand its development drilling program at its Mono Arana shallow discovery on the VMM-2 block (three wells). The Corporation's revised 2014 capital exploration and development program includes plans to drill 13 gross exploration wells (versus the 11 originally planned), 43 gross development wells (versus the 36 originally planned), and work over 13 existing producing wells in its oil fields located in Colombia and Ecuador.
Exploration wells for the remainder of calendar 2014 will include the Tigro-1, Pointer-1, and Maltes-1 wells on the LLA- 23 block, the Palmer-1, Corozo-1, and Canadonga-1 exploration wells on the Esperanza block, the Morsa-1 well on the Santa Isabel block, the Pico Plata-1 well on the VMM3 block, the Cejudo-1 well on the VMM2 block, the Chipo-1 well on the Ombu block, and the Secoya Oeste-1 well in Ecuador.