Hocol announces drilling results of the Coralino-1 well, in the Colombian Caribbean

Hocol, a company of the Ecopetrol Business Group, announces the successful drilling of the Coralino-1 well, which evidences the presence of gas at several levels of the reservoir rock associated with the Ciénaga de Oro Formation, the main producing rock of the Lower Magdalena Valley. The Coralino-1 well is located 60 kilometers southeast of Montería, in the jurisdiction of the municipality of Pueblo Nuevo, Córdoba department.

• The Coralino-1 well was successfully drilled and identified the presence of gas in the department of Córdoba.
• The Coralino-1 well is part of the Exploration and Production contract signed between Hocol and the National Hydrocarbons Agency (ANH) VIM-8, located in the southeastern part of the Lower Magdalena Valley basin (VIM), where Hocol has a 100% participation.

The drilling of this exploratory well identified the presence of gas in a structure near the Arrecife discovery in block VIM 8. The Coralino-1 well was successfully drilled between August 3 and September 1, 2022, reaching a total depth of 10,800 feet (3,292 meters).

The petrophysical interpretation of the electrical logs and the information acquired during the drilling of the well indicate the presence of natural gas in several intervals of sandstones from the Miocene-aged Ciénaga de Oro Superior Formation, with the top found at 7,979 feet (2,432 meters). This result from the Coralino well will allow Hocol to advance in the evaluation of the discovery. Currently, work is underway to initiate the testing period to follow in the coming months, which will allow establishing the productivity of the reservoir and its commercial viability.