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LLA47BlockLlanosBasinColombia,SouthAmerica

CanacoltoprovideaguaranteeofUS$4.8milliontoInteroil

ProjectProfile
Value:undisclosed
Location:Llanosbasin,Colombia
Area:173sqmiles(447sqkm)
Reserves:unknown

TheLLA47islocatedintheprolificLlanosbasinandcoversanareaof173squaremiles(447squarekilometer).Interoilhasowneda100%oftheworkinginterestonthe
blockandisthecurrentoperator.ThecompanyhasagreedtoundertakeaUS$30millionworkprogramcommitmentinthethreeyearsofPhase1oftheE&Pcontractwith
theANH.ThistransactionissubjecttoapprovalbytheANH.Inaddition,thecompanyshallpayaUS$2millionsigningfeeuponreceiptofANHapproval.Twowellswere
drilledintheSouthernmostpartoftheLLA47blocktestingastructuralclosureattheC7level.TheLince2wellwasaredrillofLince1andtestedsome90BOPDafter
experiencingtechnicaldifficulties.InterOiliscommittedtoacquire350kmof3Dseismicandtodrill8explorationwellsbeforeSeptember2014.

Operators:

InteroilColombia:Operatorwith50%interest

PetroMagdalenaEnergyCorp:50%interest

ProjectInformation

Nov18,2015

Canacol has agreed to provide a guarantee of US$4.8 million to fulfil Interoil\'s guarantee obligations for the LLA47 licence.As a result, the Colombian
regulatory entity,Agencia Nacional de Hidrocarburos (ANH), will release Interoil from guarantees totalling US$3.6 million.Andes intends to use the proceeds of
US$3.2 million from the transaction to continue the development of itsArgentine and Colombian assets and for working capital purposes.

May28,2015

The NationalAgency of Hydrocarbons (ANH) has granted an extension of 104 days for the exploration phase for LLA47. Norwegianbased Interoil has
completed 350km2 of 3D seismic and was obligated to drill eight exploration wells by October 2016, which has now been extended to 10 February 2017. The
requirement to provide an additional guarantee of USD 10,5 million has been extended to 29 July 2015.

Mar02,2012

PetroMagdalena Energy Corp. has entered into a binding letter of intent with Interoil Colombia E&P Inc. in respect of a 50% participation to farm in to the LLA
47 block located in the Llanos just south and on trend with the company\'s main Cubiro block and other producing blocks in the basin.

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Projectclassification

STATUS: CATEGORY: ON/OFFSHORE:

UPSTREAM APPRAISAL EXPLORATION DRILLING ONSHORE

Projectoperators

Interoil(Colombia)
Carrera 7 No. 11343 oficina 1202
Edificio Torres Samsung
Bogot
Colombia

CONTACT

Telephone:++5716205450
Web:http://www.interoil.no
Email:info@interoil.ch

PetroMagdalena(Colombia)
Carrera 11A
No. 9445 Piso 9
Colombia

CONTACT

Telephone:++5717432140
Fax:++5717432144
Web:http://www.petromagdalena.com
Email:Investorrelations@petromagdalena.com

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Projectmaincontractors
Nomaincontractorslisted

Projectsubcontractors
Nosubcontractorslisted

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Projectnotes

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