Colombia

The Company is preserving its contract acreage in Colombia by maintaining its ongoing environmental, social, safety and reporting requirements while delaying capital expenditures related to development of its oil reserves in country. The Company continues to be in discussions regarding possible strategic alternatives associated with its Colombian contracts.

Colombia Contract

The Company holds two contract areas in the Middle Magdalena region of Colombia.

Bolivar Contract
Signed:
1996 with Ecopetrol
Expiry Date:
2024
Acreage:
Approximately 21,000
Initial Royalte
20%
Bocachico Contract
Signed:
1996 with Ecopetro
Expiry Date:
2024
Acreage:
Approximately 21,000
Initial Royalte
20%
Financial Information