What you won't read in WSJI previously commented that the Minister of Mines Irene Veldez is meeting with Colombian Treasury Secretary Ocompo along with reps from Eco Petro the 85 percent state owned oil company. The purpose is to sort out the current reserve status of oil reserves. There is disagreement as to the current reserves with current administration claiming 12 years and previous administration claiming 7 years. The current 183 exploration licenses are in full force and honered by Govt. 747,000 barrels produced in Colombia of which Fec produces 41k to 43 K with the intent of producing 50k.
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