South America / GoM >>> Colombia

Colombia: Gold Oil provides Colombia update - announces investor presentations

23 Feb 2012

Gold Oil, the AIM-listed oil and gas exploration and production company with a primary focus on opportunities in Latin America, has announced an update on its operations in Colombia.

Colombia Update

The operator of the Azar Block located in the Putumayo Basin in Colombia has informed Gold Oil that the drilling of the La Vega Este-1 well on the block is due to commence in April, once the civil works have been finalised and the rig becomes available from its current drilling commitment.

The La Vega Este-1 well will target primarily the Villetta formation with the Caballos as a secondary objective. Gold Oil is currently producing from the Villetta formation in its Nancy Burdine field.

Gold Oil has a 20% interest in the block (subject to ANH approval) but under a prior commercial agreement will only contribute 10% to the costs of the well. The well is expected to take 35 days excluding testing and completion.

Investor Presentations

Gold Oil has recently made presentations to a number of financial institutions and other parties and has posted those presentations on its website. Click here for Presentation.

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Source: Gold Oil