The Petreven H-205 rig has commenced drilling of the Company's third exploration well EMS-1001 ('El Molino Sur') which is located in the southern area of the Fracción C licence. The well is targeting a structural 4 way closure at the Springhill and Tobifera levels and will be drilled to a measured depth of approximately 2250 m. Gross prospective unrisked oil initially in place for the structure on a Pmean basis is estimated at approximately 60 million bbls (included in the recent Competent Person's Report produced by Gaffney Cline & Associates).
The Company will update shareholders with progress on the exploration drilling programme as the programme advances.
