Maurel & Prom: Oil discovery in Llanos

Tuesday, March 20, 2007

French oil and gas independent Maurel & Prom has reported a new oil discovery at the Guarrojo permit's Ocelote-1 exploration well in Colombia's Llanos central region.

The well stopped at 4,816ft (1,468m) and pumped 600b/d oil at 23.6 degrees API, the company said in a statement.

Maurel & Prom is planning a 3D seismic survey and extended test to appraise Ocelote, which boasts 3P reserve estimates of 35Mb.

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"A long test period will start and production will be transferred by truck," the statement said.

Maurel & Prom's proven and probable reserves after royalties could be 11.4Mb compared to 2006 production of 5.2Mb.