Petrominerales Ltd. is pleased to announce an expanded drilling program for 2010. The program will build on our 2009 exploration successes and will be fueled by our strong cash flows from our growing production base and industry leading operating netbacks.
PETROMINERALES RECORDS NET INCOME OF US$26.2 MILLION IN THE THIRD QUARTER
Petrominerales Ltd. is pleased to announce third quarter financial and operating results highlighted by a 73% increase in production to 21,546 barrels of oil per day (“bopd”), funds flow from operations of US$71.7 million (US$0.71 per diluted share) and net income of US$26.2 million (US$0.26 per diluted share). Production has continued to increase in October, averaging 27,047 bopd. We have also recently announced exploration successes with our first wells on our Guatiquia and Rio Ariari Blocks.
PETROMINERALES CASES PERCHERON-1 AS POTENTIAL OIL WELL AND TESTS HEAVY OIL FROM RIO ARIARI-1
Petrominerales Ltd. is pleased to announce that we have cased our Percheron-1 well as a potential oil well. Percheron-1 is our first exploration well drilled on the Guatiquia Block in the Llanos Basin of Colombia.