Paris, January 14th 2013
No. 02-13
  
COLOMBIA EXPLORATION UPDATE

 v

 New oil discovery in the Sabanero block after drilling Chaman-1 well

No hydrocarbon results on SantaFe-1 well (SSJN-9)

 v

New oil discovery in the Sabanero block

The Sabanero block covers an area of 434 sqkm and it is located approximately at 250 km to the South East of Bogota in the heavy-oil prolific Llanos Basin at approx. 50 km northeast of Rubiales and Quifa fields. This block is 100% Maurel & Prom Colombia (Maurel & Prom operator - through its 50.01% subsidiary MP Colombia BV).

The Chaman-1 exploration well, located at the central part of the Sabanero Block (approx. 6 km away from Sabanero field CPF), resulted in a new oil discovery in the C7 Formation (12° API) and is currently under production test, proving the prospectivity of the northern area in the block.

The short test production started with 174 bopd. Size of this discovery is under evaluation.

            
SantaFe-1 well was drilled in the SSJN-9 block with no hydrocarbon results.

The SSJN-9 block covers an area of approx. 2,648 SqKm and it is located in the Lower Magdalena Valley basin. This block is 50% Hocol and 50% Maurel & Prom Colombia which is the operator.

The SantaFe-1 well was drilled at 8,290' MD (with Cienaga de Oro Formation as the main target for gas) and unfortunately the well was dry and it was plugged and abandoned.

For more information: www.maureletprom.fr
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This document may contain forward-looking statements regarding the financial position, results, business and industrial strategy of Maurel & Prom. By nature, forward-looking statements contain risks and uncertainties to the extent that they are based on events or circumstances that may or may not happen in the future. These projections are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors such as, fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism and sabotage.

 

Maurel & Prom is listed for trading on Euronext Paris - Compartment A -­ CAC® mid 60 - SBF120® - CAC® Mid & Small - CAC® All-Tradable - CAC® All-Share 
Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA

 

COL_14JAN13_ENG:
http://hugin.info/155421/R/1670293/542771.pdf


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