Talora Block

The Talora Block is a sizeable exploration block consisting of 59,522 acres, only 60 kilometers west of the capital city of Bogotá.

Sintana Energy thru its Colombia Branch Office, Sintana Energy Inc. has agreed to a farm-in from Petrodorado Energy Ltd. for an undivided 30% interest in the Talora Block;

The block straddles the arbitrary boundary between the Upper and Middle Magdalena Basins and is flanked by "Middle Magdalena" oil fields to the north and "Upper Magdalena" oil fields to the south, both consisting of light and medium gravity oil and totaling to more than 150 MMBO recoverable, all within about 25 kms of Talora.

The "Upper Mag" fields lie 25 kms to the south of Talora (40 kms from the prospects): the Guando Field is one of the most important Upper Mag fields with 120 MMBO, 30,000+ BOPD of medium-gravity crude discovered.

Just to the west of Guando lies the Abanico Field which lies immediately against Talora's northern block boundary this includes the Toqui-Toqui Field discovered in 1986 (4-7 MMBO) and the Puli Field (10-13 MMBO) discovered in 1991.

The Talora area has a long exploration history dating back to 1921 with the drilling of 6 shallow wells, by the Transcontinental Oil Company (subsequently bought by Marathon). 3 additional wells have been drilled since 2004 under the Talora license plus a deepened re-entry. It was only in 2010 that Petrodorado for the first time targeted the main thrust anticlines located near the center of the block.

It was through the drilling of the Verdal-1 well in 2010 that the stratigraphy and thickness of the units in the area became clear and that the thrust anticlines had abundant seal section over the main reservoir, protecting the basal Cretaceous reservoirs from being breached to outcrop or leaking to the surface. The Verdal-1 well also revealed two new valuable pieces of information: (1) the greater depth of the yet undrilled basal Cretaceous Caballos reservoir unit and most significantly, (2) that the Cretaceous units on top of the Caballos formation are unexpectedly hydrocarbon-charged to the degree that it was not possible to properly control the drilling of the well as it was designed and drilling was abondoned hundreds of feet above the main Caballos reservoir target.

The Dorados-1X exploration well commenced drilling operations on July 31, 2012 with a planned total depth for the well of 9,500 feet with the Cretaceous Caballos and Tetuan (Albian/Aptian) formations being the primary objectives. While drilling in the Cretaceous Cenomanian section above these objectives, the well encountered a younger and exceptionally thick sand-prone sequence which has never previously been reported in the basin. This sand-prone section, currently named the "Dorados Sands," was encountered from about 5,160 feet (MD) to below 7,000 feet, or around 1,850 feet thick (gross). While drilling, this section (5,160 to 6,035 feet) yielded excellent wet gas and oil shows as measured by both Gas Chromatography and Mass Spectroscopy.

The Dorados structure which the Dorados-1X well data now reveals is a large thrust anticline and thick sandstone reservoir with significant recoverable hydrocarbons potential. Seismic mapping yields structural closure, 4-way and 3-way closure against the main thrust fault, in the range of 2,900 to possibly over 8,000 acres with estimated net reservoir thickness based on limited data in the range of 200 feet and possibly much greater.

Partnered with: Petrodorado