SINU-9

The SINU-9 block covers an area of 311,353 acres and is located in the north part of Colombia sharing area in Lower Magdalena and San Jacinto basins, two of the basins with the largest gas and light oil potential in the country. The region has excellent infrastructure with open access to national oil and gas pipelines, 50km from port access, and coverage of a reliable electricity grid.

• Gas Discovery testing over 15 MMSCFPD from three zones at Magico-1X in the upper Cienega de Oro formation
• Brujo-1X and Hechicero-1X will be drilled from the same pad and are expected to be spudded in Q3-22 and Q4-22 respectively
• Gross 3P Undeveloped Reserves of 36.2 Bcf
• Excellent exploration potential for natural gas with Best Estimate Contingent Resources of 37.0 Bcf and Best Estimate  Prospective Resources (Prospects)  Unrisked of 602.2 Bcf (Risked 182.4 Bcf)  and Prospective Resources (Leads) of 459.0 Bcf gross(1) 
• Canacol’s block to the west has booked natural gas 2P reserves of 607 Bcf and production of 181 MMcf/d 2021
• The area has excellent infrastructure with open access to national oil and gas pipelines and coverage of a reliable  electricity grid

• Gross 3P Undeveloped Reserves of 36.2 Bcf
• Best Estimate Contingent Resources of 37.0 Bcf
• Best Estimate Prospective Resources (Prospects) Unrisked of 602.2 Bcf (Risked 182.4 Bcf) and Prospective Resources (Leads) of 459.0 Bcf
• Reserves and Resources report by Petrotech Engineering Ltd., an independent qualified reserves evaluator with an effective date of December 31, 2020 (the ” Report”)