Oil junior begins phase two at Talora block
Canadian oil junior Petrodorado Energy has officially begun the second phase of development of the Talora block in Colombia's Upper Magdalena basin, the company said in its latest financial statements.
Petrodorado (TSX-V: PDQ), along with block partner and fellow Canadian outfit Sintana Energy, is now committed to drilling at least one additional exploration well at Talora by July 30, 2015.
Last year Petrodorado incurred a net loss of US$5.93mn compared to a US$17.7mn loss in 2012, the report added.
Last week the firm revealed an updated 2014 activity plan which includes US$15.8mn of investment in drilling, workover and 3D seismic activity mainly targeting the CPO-5 block in Colombia's Llanos basin.
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