Block

Area
(acres)

Net Area
(acres)

Working Interest
(%)

Phase
Option
Date

Current Commitments

Colombia
Deep Llanos

Corcel * (1)

44,759

44,759

100%

1-June-13

 One exploratory well (done) and one evaluation well (done)

Guatiquia

26,349

26,349

100%

27-May-13

 One exploratory well (done)

Block 25

169,805

169,805

100%

24-Aug-15

Two exploratory wells (first done) + 282 km² 3D seismic (pending)

Block 31

163,903

163,903

100%

14-Feb-15

148 km 2D seismic (done) + 60 km² 3D seismic (done) + two exploratory wells (done)

Block 59

131,289

131,289

100%

20-Jun-14

303 km² 3D seismic (done) + four exploratory wells

Block 15

  63,114

63,114

100%

20-Jun-14

101 km² 3D seismic + two exploratory wells

Block Canaguaro

5,621

  4,918

 87.5%

 

 Drilling 2 exploration wells

Total Deep Llanos 604,840 604,137      

Central Llanos (2)

Mapache

58,238

58,238

100%

29-Jun-14

One exploratory well (done)

Casimena * (1)

57,166

57,166

100%

2-Nov-13

 One exploratory well and one evaluation well (done)

Castor

55,292

55,292

100%

13-Jun-14

One exploratory well (done)

Casanare Este * (1)

43,294

43,294

100%

1-Jun-13

One exploratory well (done)

Total Central Llanos 213,990 213,990      

Llanos Heavy Oil

Chiguiro Este

178,272

178,272

100%

13-Jun-13

One exploratory well

Chiguiro Oeste

67,513

67,513

100%

19-Oct-12

One exploratory well

Rio Ariari

514,426

514,426

100%

19-Oct-12

Two exploratory wells (one done)

Total Llanos Heavy Oil 760,211 760,211      

Putumayo

Las Aguilas

32,215

32,215

100%

To be determined

One exploratory well (done) and 88 km² 3D seismic (pending)

Colombia Total Exploration 1,611,256 1,610,553      

Incremental Production Contracts

Orito (1)

42,492

33,569

79%

 

None

Neiva (1)

2,395

1,653

69%

 

None

PerÚ

Ucayali

Block 126

2,636,506

2,636,506

100%

21-Dec-14

One exploratory well or 250 EWU (done)

Block 114 (2)

1,904,510

571,353

30%

15-Nov-13

One exploratory well or 260 EWU

Block 131 (2)

2,447,510

734,253

30%

14-Sept-13

Acquire, process or 400 EWU or one exploratory well

Block 161 (3)

1,215,225

1,215,225

100%

2-Mar-12

Acquire, process & interpret 350km of 2D seismic

Total Ucayali Basin 8,203,751 5,157,337      
Perú Total Acreage

8,203,751

5,157,337      

BRAZIL

RECÔNCAVO BASIN

Block 131

5,016

3,762

75%

2014

One exploration well in 2014

Block 132

6,301

4,726

75%

2014

One exploratory well in 2014

Block 144

4,843

3,632

75%

2014

One exploratory well in 2014

Block 157

4,670

3,503 75% 2014 One exploration well in 2014

Block 170 

6,919 

5,189 75% 2013 One exploration well in 2013

Block 182

5,239 3,929 75% N/A Current phase commitments completed

Blok 183 

7,413 5,560 75% N/A No commitments but we are drilling one development well in 2014

Block 196

5,906 4,430 75% N/A Current phase commitments completed

Block 197

7,339 5,504 75% 2013 One exploration well in 2013

Bom Lugar Field

2,238 1,679 75% N/A No commitments; however, we plan to drill at least one proved development well in 2014

Jiribatuba

563 422 75% N/A No commitments

Aracaju

1,418 1,064 75% N/A No commitments

 Block Rec T-106

7,759 7,759 100%  Aug-2016 Acquire 11 km2 of 3D seismic

 Block Rec T-107

7,561 5,671 75%  Aug-2016 Drill two exploration wells

 Block Tuc T-177

46,505 46,505 100%  Aug-2016 Drill one well and acquire 31 km2 of 3D seismic
Brazil Total Acreage 119,690 103,334      
Total Company acreage 9,979,584 6,906,446      

Current to May 2013
* Contracts in Subsequent Exploratory Program
(1) Working interest before potential R-Factor reductions
(2) We have a 30% working interest in these blocks and our share of these costs will be covered by the Operator
(3) Contract currently in force majeure