Interoil’s current operations are all related to assets in Colombia and include two production licences, Puli-C and Altair, plus two exploration contracts LLA-47 and Cor-6, both onshore blocks placed in very prolific hydrocarbon provinces in the Llanos Basin.
In addition, Interoil has an operating service contract with Ecopetrol for the Toqui-Toqui field, which is located close to the Mana field, and which is licensed by Hocol, a sister company of Ecopetrol. The contract was extended until December 2019.
The LLA-47 exploration block covers an area of 447 km² where Interoil acquired 350 km² of 3D seismic and has identified several hydrocarbon prospects. The Company has combined phases 1 and 2 under the license agreement and have a commitment to drill 10 wells before 10 February 2020.
The “Vikingo” well was the first well drilled in the LLA-47 block. Vikingo turned out to be a discovery and has been producing well since opened. The Vikingo well also brought a lot of hard geology data that when integrated with the existing interpretation showed inconsistencies that call for a reprocessing of the existing 3D seismic acquisition field data. Further drilling has been postponed until the reprocessing and new interpretation has been concluded.