In December 2012, Petrominerales acquired a 75 percent interest in a Brazilian entity that owns the licenses for three marginal fields and seven exploration contracts covering over 40,000 acres in the Recôncavo Basin, onshore Brazil. We later complemented our onshore Brazilian portfolio with the acquisition of interest in two additional blocks in the Recôncavo Basin: Blocks 170 and 183, subject to the Agencia Nacional do Petróleo, Gás Natural e Biocombustíveis of Brazil ("ANP") approval. Both blocks are contiguous with our existing acreage, offering the same tight-oil potential in the Gomo sands in the Candeias Formation.
In May, at the 11th Brazilian Bid Round, we were awarded Block REC-T 106 and Block REC-T 107 in the Reconcavo Basin and Block TUC-T 177 in the Tucano Basin, all located in the state of Bahia, onshore Brazil. The three blocks are expected to be finalized in August and will be subject to ANP contracts. Upon the execution of the contracts, Petrominerales will hold a 100 percent interest in Block REC-T 106 and Block TUC-T 177 and a 75% interest in Block REC-T 107.
Our land position in Brazil is now 119,690 acres (103,334 net acres) and we have a significant exposure not only to the deep tight oil potential in the Gomo horizon but also to considerable exploration potential in shallower conventional reservoirs. Our initial focus will be to demonstrate the commercial deliverability of the Gomo sands using fracture stimulation technology. We plan to drill our first two wells in the fourth quarter of 2013 and recomplete one well in our existing producing oil field, Bom Lugar.