Ecopetrol reports gas discovery offshore Caribbean coast of Colombia

11/9/2012

Ecopetrol reports gas discovery offshore Caribbean coast of Colombia

BOGOTA -- Ecopetrol reports that its affiliate Equion Energia, the operator of the exploratory well Mapale 1 drilled in the waters of the Caribbean Sea off Colombia's coast, has indicated that fluid tests and recordings carried out on the well show the presence of dry natural gas.

With exploratory drilling complete, Equion Energia will begin the technical evaluation phase, which will take into account the well's results and previously acquired seismic data in the area, in order to determine the potential of the gas discovery.

The Mapale 1 well was drilled offshore on Block RC5, an area awarded by the ANH in 2007. Equion Energia is the operating company and has a 40.6% stake and the other partners are Ecopetrol with a 32% stake and Petrobras with a 27.4% stake. Ecopetrol accounts for 60% of total production.

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