Location and background
The Mauritia Norte-1 (MN-1) well is located in the municipality of Orocue in the Department of Casanare and is part of the 12,463 hectare Moriche Block located in the Llanos Basin in the central-east part of Colombia. Pacific Rubiales holds an 80% participating interest in this E&P contract, which was awarded by the ANH on February 21, 2005 to Pacific Stratus. The geology, work performed and exploration potential of the Moriche Block are explained in greater detail below under "Assets – Exploration".
Production and Reserves
At the beginning of 2007 the company drilled the MN-1 well at a cost of $7.3 million. The well began production in June 2007, and up to December 31, 2007, it had produced 31,533 bbl of 36.8 οAPI crude oil, at an average of 173 bbl/d. Net proved producing reserves at Moriche are 0.07 MMbbl, net proved undeveloped reserves come to 0.286 MMbbl and probable undeveloped reserves are 171 Mbbl.
