S1-06 MAU 10AUG06docarchives.maureletprom.fr/pdf/MAU-ORT-09JUL08_EN.pdf · MAU-ORT-09JUL08_n°...
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Paris, July 09, 2008 N° 27-08 COLOMBIA Success of Ortega Sur: Gas production of 7.5 million cubic feet per day at 100% Exploration Update: Cocli NE plugged and abandoned Ortega IPC (Ecopetrol operator 31%, Maurel & Prom 69%) The Ortega Sur well, drilled in the Ortega Incremental Production Contract, signed with Ecopetrol S.A. and located in the Upper Magdalena Valley, 250 km south-west from Bogota, has reached three hydrocarbon-bearing intervals from Caballos and Tetuan Formations. Three selective tests in Middle & Upper Caballos and Tetuan, resulted in a gas production of 2.5 million cubic feet per day, 3.0 million cubic feet per day and 2.0 million cubic feet per day respectively, for a total estimate production of 7.5 million cubic feet per day equivalent to 1,350 boepd. Maurel & Prom net production (entitlement) after royalties represents an estimate of 4.76 million cubic feet per day equivalent to 857 boepd. Maurel & Prom, through its wholly owned subsidiary Hocol S.A., holds 69% of this contract that carries royalties of 8% and Ecopetrol, operator, holds the remaining 31%. This gas well will support Maurel & Prom gas sales project in Colombia with Don Pedro and Monserrate Field. This well can be connected to Santa-Rita gas production facilities by the end of the year. MAU-ORT-09JUL08_n° 27-08 Page 1 sur 3
Transcript of S1-06 MAU 10AUG06docarchives.maureletprom.fr/pdf/MAU-ORT-09JUL08_EN.pdf · MAU-ORT-09JUL08_n°...
Paris, July 09, 2008
N° 27-08
COLOMBIA
Success of Ortega Sur: Gas production of 7.5 million cubic feet per day at 100% Exploration Update: Cocli NE plugged and abandoned
Ortega IPC (Ecopetrol operator 31%, Maurel & Prom 69%) The Ortega Sur well, drilled in the Ortega Incremental Production Contract, signed with Ecopetrol S.A. and located in the Upper Magdalena Valley, 250 km south-west from Bogota, has reached three hydrocarbon-bearing intervals from Caballos and Tetuan Formations. Three selective tests in Middle & Upper Caballos and Tetuan, resulted in a gas production of 2.5 million cubic feet per day, 3.0 million cubic feet per day and 2.0 million cubic feet per day respectively, for a total estimate production of 7.5 million cubic feet per day equivalent to 1,350 boepd. Maurel & Prom net production (entitlement) after royalties represents an estimate of 4.76 million cubic feet per day equivalent to 857 boepd. Maurel & Prom, through its wholly owned subsidiary Hocol S.A., holds 69% of this contract that carries royalties of 8% and Ecopetrol, operator, holds the remaining 31%. This gas well will support Maurel & Prom gas sales project in Colombia with Don Pedro and Monserrate Field. This well can be connected to Santa-Rita gas production facilities by the end of the year.
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Exploration Update
Cocli NE well has been plugged and abandoned.
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This press release may contain forward-looking statements with respect to the financial condition, results of operations, business, strategy and plans of Maurel & Prom. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. These forward-looking statements are based on assumptions which we believe are reasonable but that could ultimately prove inaccurate and are subject to a number of risk factors, including but not limited to price fluctuations in crude oil; exchange rate fluctuations; uncertainties inherent in estimating quantities of oil reserves; actual future production rates and associated costs; operational problems; political stability; changes in laws and governmental regulations; wars and acts of terrorism or sabotage. .
Maurel & Prom is listed on Euronext Paris – compartment A - CAC mid 100 Index Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA
Agenda 2008
Monday August 4, 2008 First Half Sales 2008 Friday August 29, 2008 Publication First Half Results 2008 Thursday September 11, 2008 Analyst meeting Tuesday November 4, 2008 Third Quarter Sales 2008
Press releases to be distributed on each of the abovementioned days before the markets open
INVESTOR RELATIONS PRESS RELATIONS Laurence Borbalan Michelle Aubert Tel. : +33 1 47 03 68 58 Tel. : +33 1 47 03 68 61 Mob. :+33 6 79 44 66 55 Mob. :+33 6 85 34 45 94 [email protected] [email protected]
MAU-ORT-09JUL08_n° 27-08 Page 3 sur 3
