Ecopetrol announces oil discovery

9/6/2012

Ecopetrol announces oil discovery

BOGOTA, Colombia -- Ecopetrol S.A. reported that it has proven the presence of crude oil at the Aullador-I exploratory well located in Santander province, 27 km from the municipality of Sabana de Torres. The well is part of the Playon Exploration and Production Agreement signed by Ecopetrol and the National Hydrocarbons Agency on April 24, 2008.

The well was drilled to a depth of 11,393 ft. Tests averaged 300 bpd of crude oil at 24°API, obtained by natural flow. The well shows low watercut and sediment of only 0.1%, and a gas-oil ratio of 200.

In the following months extensive testing will be carried out in order to define the potential of the discovery.

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