CEPSA - Llanos-22 Block

Project Status

The Ramiriqui-1 oil exploration well in the Llanos-22 block, located in the Andean foothills trend of the Llanos Basin, is currently drilling ahead and is expected to reach TD in late December 2011.

The Ramiriqui-1 oil exploration well in the Llanos-22 block, located in the Andean foothills trend of the Llanos Basin, has reached total depth at 19,519 feet measured depth (MD) in basement.

Gran Tierra Energy, along with its operating partner Compania Espanola de Petroleos, S.A.U. (CEPSA), has completed initial testing on Ramiriqui-1 by collecting reservoir data and fluid samples from the Mirador formation.

The partners are currently evaluating options for testing additional reservoir intervals, drilling of an appraisal well, and implementation of an early production program.

they are extremely pleased with the early success of Gran Tierra Energy's 2012 exploration drilling program, building on the growing reserves and production base in the Llanos Basin.' said Dana Coffield, President and Chief Executive Officer of Gran Tierra Energy.

'This is the first of four exploration wells planned for this year in Colombia, with two in the Llanos Basin and two in the Putumayo Basin. In addition, one exploration well in Peru, two exploration wells in Brazil and three exploration wells in Argentina are planned through the balance of the year.'

Civil construction has commenced for the La Vega Este-1 oil exploration well. The drilling rig is expected to mobilize from the Costayaco-15 well site to the La Vega Este-1 wellsite and is expected to begin drilling in late April, 2012.

The La Vega Este-1 well is targeting the same Cretaceous Sandstone intervals present in the Costayaco and Moqueta discoveries.

South America-focused Gran Tierra has flowed oil from an exploration well on the Llanos-22 Block in the Andean foothills trend of the Llanos basin, onshore Colombia.

The Ramiriqui-1 well was drilled to a total depth of 19,519 feet and 26 degree API gravity oil was flowed at up to 2525 barrels per day from the Mirador formation during initial testing over a 32.5 hour period.

Gran Tierra said the Mirador formation had 130 feet gross thickness and was perforated and tested from 17,610 feet to 17,630 feet in the uppermost primary reservoir interval. (Topco)