Talisman and Ecopetrol Announce Hydrocarbon Discovery

Posted by Pedro Gonzalez, CPA on Nov 21, 2014

Colombia

Talisman Energy Inc.’s affiliate Talisman (Colombia) Oil & Gas Ltd., (“Talisman”) and Ecopetrol S.A. have proven the presence of hydrocarbons in the Nueva Esperanza-1 exploratory well (A2b), located in block CPO-9, Department of Meta, Colombia. Talisman and Ecopetrol are jointly analyzing the results and will file an application with the Colombian authorities to place the Nueva Esperanza-1 well on long-term test (continuous well production going to market at the most recent weekly average. A permit for long term testing is required for a well to produce oil until the permit for full field development has been granted.)

It is the second oil discovery made by Talisman and Ecopetrol in Block CPO-9, following the discovery of hydrocarbons in the Akacias structure in 2010. The Nueva Esperanza structure is adjacent to, and along the same structural trend as, the Akacias Field. Additional exploration wells along the continuation of this trend are planned.