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Ecopetrol and Talisman flow oil at Colombia onshore well

21st November 2014

Ecopetrol and Talisman Energy have proven the presence of hydrocarbons in the Nueva Esperanza-1 exploratory well (A2b), located in block CPO-9 in Colombia

Ecopetrol and Talisman flow oil at Colombia onshore well
Talisman and Ecopetrol are jointly analysing the results and will file an application with the Colombian authorities to place the Nueva Esperanza-1 well on long-term test

Nueva Esperanza-1 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 well was spudded on July 18, 2014 and reached total depth at 12,056 feet on September 26, 2014.

During an initial eight-day flow test using an electro-submersible pumping system, 309 feet of perforations in the T2 formation stabilised at a daily flow rate of 910 barrels of 8° API crude oil with less than 2 per cent water cut during the last day of flow.

Talisman and Ecopetrol are jointly analysing the results and will file an application with the Colombian authorities to place the Nueva Esperanza-1 well on long-term test.

Approval has been granted to drill two down-dip appraisal wells, the first of which, Nueva Esperanza-2, started drilling operations on November 16.

In accordance with Colombian regulations, the partners declared commerciality of the Akacias Field in December 2013 and currently await receipt of a development license.

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.

Ecopetrol S.A. is the operator of Block CPO-9 with a 55 per cent interest and Talisman (Colombia) Oil & Gas Ltd. (TCOG) has a 45 per cent interest in the licence.

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