A compelling investment case

Our strategic priorities

Colombia focus - low cost onshore oil

  • Prime position in proven Putumayo and Llanos basins with established infrastructure
  • Short cycle time from exploration to production
  • Brent linked pricing 
  • Established in-country oilfield services sector
  • Business friendly political environment

Strategic deal with Occidental Petroleum

  • $93.25m transformational farm-out signed with Occidental in 2018 to fund exploration in the Putumayo basin
  • Industry endorsement from a player active in Colombia for decades

Active drilling programme across material resource base

  • 12 blocks across the prolific Llanos and under explored Putumayo basins
  • Putumayo acreage covers light to heavy oil gradation in excellent reservoirs, big field potential
  • CPO-5 is key acreage in the most important Llanos basin play, on trend with most important recent discoveries
  • Exploration portfolio of around 912 MMBO of unrisked prospective resources

Debt free growth - maintain balance sheet strength

  • Cash generation and balance sheet strength used to fully fund the ongoing exploration campaign
  • Debt free balance sheet, strong cash position and positive operating cashflow

Own strategic export infrastructure - OBA pipeline

  • Provides a reliable, low cost route through to Pacific coast with technical capacity of 50 - 70,000 BOPD to support future growth
  • Investment in the asset was fully recovered within 15 months of operation through transport cost savings
  • Transportation of third party oil commenced in May 2019

Experienced board and management team

  • Experienced board with in country CEO and technical management team
  • Strong community relations developed over the course of a decade of operating onshore Colombia and Paraguay
  • Full compliance with QCA code